South America Corn Oil Market Outlook, 2028

The South American agricultural sector has been actively promoting corn cultivation, leading to an increased domestic supply of corn. This has resulted in a stable and cost-effective source of corn oil production within the region, reducing the dependence on imports. The growing popularity of corn oil as a feedstock for biodiesel production has added to its demand. Corn oil is generally less expensive than most other types of edible vegetable oils. It has a high smoke point of 232°C and thus frying with corn oil is convenient. Corn oil extracted by screw pressing or solvent extraction is the crude oil that needs a refining process before marketing. The majority of oils on the market are refined oil, except some virgin olive oils, linseed, tallow, lard, and some cold-pressed oils which can be consumed without the refining process. Manufacturers are focusing on producing high-quality, non-GMO, and organic corn oil options to meet the changing demands of consumers. Additionally, sustainable sourcing practices and eco-friendly packaging are becoming increasingly important considerations within this market, reflecting the broader trend towards environmentally responsible consumption. According to the research report, “South America Corn Oil Market Outlook, 2028” published by Bonafide Research, the market is anticipated to add nearly USD 58 Million from 2023 to 2028. The South America corn oil market has witnessed significant expansion in recent years, driven by several key trends. One of the prominent factors contributing to this growth is the increasing awareness of health-conscious consumers regarding the benefits of corn oil. Corn oil is widely recognized as heart-healthy cooking oil due to its low saturated fat content and high levels of heart-healthy unsaturated fats. As consumers become more health-conscious, they are increasingly opting for corn oil as a healthier alternative to other cooking oils. Another crucial trend in the South America corn oil market is the growing demand for convenience foods. With the fast-paced lifestyles of modern consumers, there is a rising preference for ready-to-eat and processed foods that require cooking oils. Corn oil is a popular choice for food manufacturers and restaurants due to its neutral flavor, high smoke point, and versatility in various culinary applications.

On the basis of geography, the South American corn oil market, encompassing countries like Brazil, Argentina, and Colombia, has been undergoing significant developments in recent years. Brazil, as one of the region's largest economies, has played a pivotal role in driving the expansion of this market. The country's growing population and rising awareness of health-conscious dietary choices have fueled the demand for corn oil, known for its heart-healthy properties. Argentina, another major player in the South American corn oil market, benefits from its substantial corn production. As one of the world's top corn producers, Argentina has a steady supply of corn for oil extraction, making it a competitive player in the global corn oil market. The country's emphasis on agricultural innovation and sustainable practices has further strengthened its position in the market. Colombia, while not as large a producer as Brazil and Argentina, has also seen a notable increase in corn oil consumption. The country's food processing industry has been on the rise, driving the demand for corn oil as a versatile cooking and frying medium. Moreover, the Colombian government has been actively promoting the use of biofuels, including corn-based ethanol, which indirectly contributes to the corn oil market's growth. South American countries, such as Brazil and Argentina, are major players in corn oil production and exports. They often export corn oil to various international markets, including countries in North America, Europe, and Asia. On the basis of Nature of corn oil, the market is segmented into Conventional type and Organic type. As the demand is high and the price of corn oil is affordable, the conventional oil is leading the market in 2022. The market environment is changing, though, as a result of a considerable change in customer choices and awareness of healthier, more environmentally friendly options. Consumers in South America are becoming more and more enamored with organic maize oil as a result of its alleged health advantages and environmentally friendly manufacturing practices. This change promotes not just better overall health but also a more sustainable and environmentally friendly food supply chain. The rise of organic corn oil on the market serves as a reminder of the food industry's dynamic nature, which is constantly evolving and where consumer preferences and values are of utmost importance in determining the direction of markets and goods. On the basis of the End- Users, the market of corn oil is segmented into Households, Industrials, and Food Services. Corn oil is popular cooking oil used in households worldwide. In households, it is frequently used for frying, sautéing, and baking, lending a delicious and crispy texture to a wide array of dishes. Its neutral taste also makes it a popular choice for salad dressings and marinades, allowing the flavors of other ingredients to shine through. Beyond its culinary appeal, corn oil is appreciated for its health benefits, as it is low in saturated fats and contains heart-healthy monounsaturated and polyunsaturated fats. Its affordability and widespread availability further contribute to its enduring popularity in households, making it an essential component of countless kitchens worldwide. Corn oil is also a feedstock used for biodiesel. Other industrial uses for corn oil include soap, salve, paint, erasers, rustproofing for metal surfaces, inks, textiles, nitroglycerin, and insecticides. It is sometimes used as a carrier for drug molecules in pharmaceutical preparations. Corn oil is a versatile and widely used component in the pharmaceutical industry. Its prominent role lies in its utility as a pharmaceutical excipient, primarily due to its excellent solubility properties and inert nature.

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Manmayi Raval

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Based on the distributional channels, the market is been segmented into Online and Offline modes. Through offline modes, conventional stores holds the largest market share following it the hypermarkets/supermarkets, Direct sales, and others. Historically, physical shopping channels, particularly conventional stores, supermarkets and hypermarkets, have dominated the distribution of corn oil. Direct sales provide sellers more control over pricing policies, product standards, and client interactions. They set competitive rates to keep their products profitable while yet keeping them cost-effective. Increased online corn oil sales are a key factor in the South American region's market expansion. The emergence and growth of e-commerce and online shopping platforms have significantly impacted the distribution landscape. More consumers are now opting to buy corn oil online, taking advantage of the convenience and accessibility those e-commerce offers. Online retailers and grocery delivery services have made it easier than ever for shoppers to have corn oil and other groceries delivered directly to their homes. Considered in this report: •Geography: South America •Historic year: 2017 •Base year: 2022 •Estimated year: 2023 •Forecast year: 2028 Aspects covered in this report: •South America 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: •Brazil •Argentina •Colombia 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.