Reports
Reports
The global maize oil market is expected to witness strong growth during the forecast period between 2021 and 2031.
Maize oil is an oil product, light in texture and rich in nutritional content such as unsaturated fatty acids such as linoleic acid. Maize oil also has high Vitamin A, B, and C content. As a result, they have proven beneficial in helping keep the skin smooth and helped in strengthening the hair.
COVID-19 pandemic negatively impacted growth in overall maize oil market. Rising number of cases worldwide forced governments to impose stringent social distancing regulations and lockdowns in a bid to contain the spread of the virus.
This led to temporary or permanent shutting down of maize oil production units, thereby lowering manufacturing and sales as well as decreasing market growth.
However, with most population sections vaccinated twice and approval given to the use of third booster dose, it is projected that maize oil production facilities will resume operations soon, thereby increasing product demand and stimulating the growth in maize oil market.
Rising product demand in personal care and cosmetic products manufacturing is the key growth driver for global maize oil market.
Also, increasing maize oil demand for cooking purposes in urban areas is expected to help create revenue-generating opportunities for prominent players in global maize oil market, in the coming years.
In addition to this, rising demand for low-calorie oil is projected to positively impact demand and trigger the growth in overall maize oil market, in the years ahead.
Government initiatives and measures such as offering funding to leading players for research and development undertakings could stimulate the growth in global market, in the coming years.
Other factors such as rapid urbanization, especially in developing economies and rising disposable income could also contribute to growth in maize oil market, in future.
Offline distribution channel is expected to emerge as largest contributor, in terms of revenue, to overall maize oil market because of increasing consumer preference to purchase maize oil products from supermarkets and hypermarkets in prominent countries worldwide.
Presence of numerous leading players has ensured that the competitive landscape in global maize oil market is fragmented. Many of these players are anticipated to hold a large share in overall market, in the coming years.
Launch of new players could help prominent maize oil market players create revenue-generating opportunities and gain a competitive edge over other players.
Research and development activities could be key, revenue-generating growth strategy for well-established maize oil market players, in the coming years.
Other strategies such as signing collaborative agreements with smaller players could help prominent maize oil market players in expanding their market presence and increasing their revenue shares.
Some of the leading players in global maize oil market include Archer Daniels Company, Cargill Inc., Associated British Foods PLC, The Savola Group, and Abu Dhabi Vegetable Oil Company.
The global maize oil market is classified into four regions, namely, North America, Asia Pacific, Europe, and rest of the world.
North America is expected to emerge as maximum revenue-generating region in global maize oil market because of increasing consumer demand for cooking purposes in countries such as the U.S and Canada, owing to increased Vitamin E and polyunsaturated fats content.
Asia Pacific is expected to offer significant growth opportunities for global market due to increasing biofuel consumption in countries such as India and China, contributing significantly to the region.
Europe is projected to witness strong growth in global market due to increasing demand for rapeseed and palm oil in countries such as the U.K and Germany.
The rest of the world is expected to witness moderate growth in global market, in the coming years.
N/A
Copyright © Transparency Market Research, Inc. All Rights reserved
Trust Online
Maize Oil Market
