Asia-Pacific Corn Oil Market Outlook, 2028

Corn oil production and use have grown significantly in the Asia-Pacific area in recent years. The region has seen a rise in the use of corn oil, which is made from maize kernels, attributed to its many culinary uses and alleged health advantages. The demand for corn oil has increased as dietary preferences change and customers' awareness of their health increases. Manufacturers in the Asia Pacific region have increased their production capacities in response to this demand. The production of maize oil in the area has increased as a result, with businesses investing in cutting-edge extraction methods and quality-control procedures to match the demanding demands of the international market. The fact that maize is a common primary crop in many nations in the Asia Pacific area has also aided in the expansion of the corn oil manufacturing industry. Using expellers, solvent extraction, and refining to remove impurities before marketing, corn (maize) germ is converted into corn oil. Compared to the majority of other edible vegetable oils, corn oil is often less expensive. Corn oil is useful for frying since it has a high smoke point of 232°C. According to the research report, “Asia-Pacific Corn Oil Market Outlook, 2028” published by Bonafide Research, the market is expected to grow with around 7.38% CAGR by 2023-28. The corn oil market in the Asia Pacific region is experiencing significant expansion, driven by several key trends and active participation from various regions within Asia. The rising health consciousness among consumers has led to increased demand for healthier cooking oil options, and corn oil, known for its lower saturated fat content, has gained popularity. The agricultural capabilities of several countries in the Asia Pacific region, such as China, India, Indonesia, and Malaysia, have enabled efficient production of corn, making the sourcing of raw materials for corn oil manufacturing more accessible and cost-effective. The Asia Pacific region has become a significant player in the global corn oil import and export trade. On the import side, many countries in the Asia Pacific region, including Japan, South Korea, and some Southeast Asian nations, rely on imported corn oil to meet their domestic demand. These imports are often driven by the need to maintain a stable supply. Conversely, countries with strong corn oil manufacturing capabilities, such as China, Indonesia, and Malaysia, actively participate in the export of corn oil. These nations have not only secured their domestic markets but have also expanded to serve international markets, including other parts of Asia, the Middle East, and beyond. Their competitive prices, high-quality products, and efficient production processes have made them key exporters in the global corn oil trade.

Based on the geography, the Asia Pacific market is segmented into China, Japan, India, Australia, South Korea and rest of APAC. In the Asia Pacific region, the largest corn oil manufacturing and consumption hubs are primarily concentrated in East Asia and Southeast Asia. China stands out as the leading manufacturer and consumer of corn oil in the Asia Pacific. Its vast agricultural resources and large population contribute to robust corn production and a high demand for corn oil within the country. China's corn oil manufacturing industry has also evolved to meet international quality standards, making it a major exporter of corn oil to other parts of the region and beyond. In Southeast Asia, countries like Indonesia and Malaysia have witnessed significant growth in both corn oil production and consumption. These nations are known for their thriving palm oil industries, and they have expanded their oilseed processing capabilities to include corn. As a result, they have become important players in the corn oil market, not only for their domestic needs but also as suppliers to neighboring countries. Moreover, countries in East Asia, including Japan and South Korea, have a substantial demand for corn oil due to their modern culinary preferences and food processing industries. While they may not produce corn oil on the same scale as China or Southeast Asia, their consumption rates remain noteworthy. The report is segmented on the basis of Nature of Corn oil; that are Conventional and Organic. In the Asia Pacific region, there has been a notable shift in consumer preferences regarding corn oil. While conventional corn oil has long been a staple due to its affordability and widespread availability, there is a growing trend towards the consumption of organic corn oil. Furthermore, the demand for organic products in the Asia Pacific is buoyed by a desire to support sustainable and eco-friendly agricultural practices. Although organic corn oil is typically priced higher than its conventional counterpart, the willingness of consumers in the Asia Pacific region to pay a premium for health, environmental, and quality considerations is driving the growth of the organic corn oil market. This trend highlights the evolving preferences of consumers in the region and the importance of sustainability and health in shaping their food choices. On the basis of End-Users, the market is segmented into Households, Industrials, and Food Services. This edible corn oil holds the largest market share in household’s usage. Along with this, its natural drying properties make it an excellent choice as a binder in paint products. When exposed to air, corn oil undergoes a process called oxidation, which leads to the formation of a solid film that provides protection and enhances the durability of painted surfaces. This makes corn oil a valuable component in the formulation of high-quality paints and coatings, commonly used for applications like automotive finishes, industrial coatings, and architectural paints. Additionally, In cosmetics and personal care products, corn oil have a variety of functions, including abrasives, absorbents, binders, bulking agents, hair conditioning agents and skin conditioning agents. The expanding use of corn oil in the HoReCa sector in the Asia Pacific region is driven by its culinary versatility, cost-effectiveness, health-conscious attributes, and the growth of the food service industry itself. This trend underscores the importance of corn oil as a staple ingredient in the region's vibrant and diverse food service landscape.

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Manmayi Raval

Research Consultant

Based on the distributional channels, the market is segmented into conventional stores, hypermarkets/supermarkets, direct sales, online sales and others. In Asia Pacific regions, the distribution of corn oil has traditionally been dominated by conventional brick-and-mortar retail channels, particularly hypermarkets and supermarkets. Shoppers would typically purchase corn oil alongside their other groceries during their routine visits to these stores. This longstanding practice made hypermarkets and supermarkets the primary outlets for corn oil distribution, offering consumers a wide range of brands and options. Additionally, the direct sales provide better control over pricing strategies, product quality, and customer relationships. The manufacturer’s set competitive prices, ensuring that their products remain cost-effective while still maintaining profitability. The expansion of online sales of corn oil is playing a pivotal role in driving market growth in the Asia Pacific region. E-commerce platforms have become increasingly popular channels for consumers to purchase a wide range of products, including cooking oils like corn oil. Considered in this report: •Geography: Asia Pacific •Historic year: 2017 •Base year: 2022 •Estimated year: 2023 •Forecast year: 2028 Aspects covered in this report: •Asia Pacific Corn Oil Market with its value and forecast along with its segments •Various drivers and challenges •On-going trends and developments •Top profiled companies •Strategic recommendation

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Countries covered in the report: •China •Japan •India •Australia •South Korea By Nature: •Conventional •Organic By End User: •Household •Industrial •Food Service By Distributional Channel: •Conventional Store •Hypermarket/Supermarket •Direct Sales •Online •Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Corn Oil Market industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.