Maize is a food and feed crop. The maize or corn oil is used for cooking purpose as well as in bio-fuel. In addition, the by-product is used as fertilizer and animal feed. Due to its diversified uses, the demand for maize oil is rising. The oil is used for salad dressing, as cooking oil and as a key ingredient in margarine. It is also used in food service industries.
The global Maize oil market is segmented by application as household usage, agricultural usage and industrial usage. Geographically, market can be segmented into North America, Europe, Asia Pacific and Rest of the World.
The key drivers of growth in this market are greater usage of maize oil in cooking in urban areas, demand for low-calorie oil and growing health concerns among consumers in emerging countries. Agronomist has developed high-oil varieties of maize or corn which is extremely low in calorie than others and makes perfect frying oil for health conscious people. Some of the restraining factors could be Government regulations on labeling, manufacturing and selling of the oil.
The Maize oil market globally is expected to grow with a significant single digit CAGR over the period of 2013- 2019. Maize oil is easy to digest and is beneficial to health. Health conscious people prefer using maize oil over other edible oils having high amount of saturated fatty acid. With rising literacy level in emerging countries, households are undergoing tremendous changes in consumption patterns.
Some of the key players in Maize oil Market are RPMG, Inc., Neshiel Chemical Pvt. Ltd., Soyyi?it Group, Cargill Inc among others.
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