Malaysia Culinary Coconut Milk Market to Hit USD 119.31 million in 2029 at a CAGR of 2.9% during 2022-2029

The malaysia culinary coconut milk market size was USD 67.34 million in 2021. The market is projected to grow from USD 71.96 million in 2022 to USD 119.31 million in 2029 at a CAGR of 2.9% during the 2022-2029 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Malaysia Culinary Coconut Milk Market, 2022-2029.” Factors such as rising coconut cultivation and increasing demand for coconut in Malaysia and a global market will increase the footprint of the market during the forecast period. Additionally, increasing consumers towards vegetarianism & organic foods will boost the growth of the market.

COVID-19 Impact

Disruption in Supply Chains & Faltering Transport Sector to Decrease Growth Amid Pandemic

The COVID-19 pandemic led to several disruptions in various sectors. Restrictions on movement on the general population and shortage of workforces led to a decrease in the market volume. A gap in demand-supply and rising alternatives for healthy food products further decreased the demand for the market. However, as the pandemic loomed on, various players reported a rise in their revenues, as players began to adjust to the new method of functioning.

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List of Key Players Present in the Market

• S&P Industries Sdn. Bhd. (Malaysia)
• Santanmas Food Industries (M) Sdn Bhd (Malaysia)
• Linaco Manufacturing (M) Sdn. Bhd. (Malaysia)
• Tropical Produce Sdn Bhd (Malaysia)
• Mitra Sdn Bhd. (Malaysia)
• Eramas Group (Malaysia)
• M&S Food Industries Sdn Bhd (Malaysia)
• Kara Marketing Sdn Bhd (Malaysia)
• Gogoco Holding Sdn Bhd (Malaysia)
• Denis Group Holding S.A. (Switzerland) 

Segments

Product Type, Form, and Distribution Channel are Studied

Based on product type, the market is broken down into coconut milk, coconut milk powder, coconut cream, and coconut cream powder.

By form, the market is divided into powder and liquid.

With respect to distribution channel, the market is segmented into supermarket/hypermarkets, convenience stores, grocery stores, and online retailers.

Report Coverage

The market for Malaysia culinary coconut milk contains qualitative & quantitative insights by encompassing critical factors such as product types, distribution channels, market size, and growth rate of all segments. Additionally, factors such as a comprehensive analysis of the market with a forecast on a global scale have been provided. Also, ongoing mergers & acquisitions, regulatory scenarios, and key industry trends have been highlighted.

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Drivers & Restraints

Rising Utilization of Coconut Milk and Rising Awareness of Products to Augment Market Growth

Factors such as the rising availability of raw materials among manufacturers and increasing integration of products among traditional cuisines will boost the Malaysia culinary coconut milk market growth during the forecast period. Rising demand from the HORECA sector and rising awareness regarding the health benefits will increase the footprint of the market. Also, expanding quick-service restaurants and increasing consumer inclination among consumers toward veganism will further fuel the growth of the market.

However, the availability of alternatives will limit the growth of the market during the forecast period.

Regional Insights

Malaysia to Witness Huge Growth due to Increasing Tourism Sector

The rising middle-class economy and the inclination of a majority of the population to switch to coconut milk toward their regular cuisine will increase the footprint of the market in the region. Rising plant-based hunger among the general population and the rapidly advancing foodservice sector will fuel the growth of the market. Also, rising understanding of consumers toward maintaining a balanced lifestyle and increasing consumer expenditure will increase the penetration of the Malaysia culinary coconut milk market share.

Competitive Landscape

Product Development & Rising Focus Toward Introducing New Flavors to Help Prominent Players Gain Edge

The market for Malaysia culinary coconut milk is filled by rising consumer demand along with an increasing influence of culinary ingredients. Dominant players are focused on developing novel products focused on taste and texture to attract a larger consumer base. For example, in April 2021, Dunkin Brands announced that it will be integrating coconut milk as a dairy alternative across all restaurants to tend customized beverages. Smaller players are consolidating the remaining market share. Additionally, expanding their current product portfolio for meeting the rising consumer demand will further help the market integrate toward a competitive edge.

Industry Development

• December 2021 - Ayam Brand launched its organic coconut milk variant in Malaysia, which is made using free from hormone, pesticides, and GMO coconuts.

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Pregelatinized Starch Market to Hit USD 2.38 billion by 2028 at a CAGR of 4.3% by 2021-2028

The pregelatinized starch market size was valued at USD 1.72 billion in 2020. The market size is expected to rise from USD 1.77 billion in 2021 to USD 2.38 billion by 2028 at a CAGR of 4.3% during the projected period. The global market is expected to rise during the projected period due to rising starch demand in the food & beverage sector to store processed and ready-to-eat food packages. Fortune Business Insights™ publishes this information in a report titled, "Pregelatinized Starch Market, 2021-2028".

Pregelatinized starch is a form of carbohydrate that is cooked and dried to be converted into flaked or powder form. These starches are extracted from potatoes, wheat, and corn. The starches are used in ready-to-eat and processed foods and are efficiently digestible. Also, properties such as biodegradable are likely to foster market growth.

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List of Key Players Profiled in the Report:

• Cargill Incorporated (Iowa, U.S.)
• Tate & Lyle (London, U.K.)
• Visco Starch (Gujarat. India)
• Galam (Ma'anit, Israel)
• Banpong Tapioca Flour Industrial Co Ltd. (Bangkok, Thailand)
• Crest Cellulose (Andhra Pradesh, India)
• DFE Pharma (Tamil Nadu, India)
• Karandikars Cashell Private Limited (Maharashtra, India)
• Grain Processing Corporation (Iowa, U.S.)
• S A Pharmachem Pvt Ltd. (Maharashtra, India)

Segments:

Source, Application, and Region are Studied

By source, the market is divided into corn, wheat, potato, and others.

Based on application, the market is segmented into food & beverage, pharmaceutical, cosmetics, and others.

By geography, the market is categorized into Europe, Asia Pacific, South America, North America, and the Middle East & Africa.

Report Coverage:

The research report provides factual data regarding statistics and information regarding development trends and advancements in the industry. Also, innovative strategies and latest trends in the market are discussed along with industrial developments implemented by key players. The report focuses on various developments such as technological advancements and innovation activities adopted by prominent players in the industry.

Drivers & Restraints:

Rising Product Demand in Food & Beverage Sector to Bolster Market Expansion

The market is anticipated to propel market growth in the coming years, owing to increasing product demand in the food & beverage sector. Also, the product requirement in the cosmetics and personal care industry is likely to boost the market. Furthermore, the rising demand for ready-to-eat and processed food products in an emerging market is expected to increase product supply and bolster market expansion globally. These factors are likely to ensure the pregelatinized starch market growth during the forecast period.

However, the high energy required to process the starch is likely to hinder the market growth.

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Regional Insights:

Europe Dominates Global Market Due to Increasing Product Demand

Europe holds the most prominent global market share during the forecast period owing to the rising demand for personal care and cosmetic products. Increased utilization of starch in this sector is likely to propel market growth.

North America holds the second-largest global pregelatinized starch market share, owing to rising product demand in the food & beverage sector. The presence of key players in the region is expected to increase the production rate and rise the supply of the starch to various industries.

Competitive Landscape:

Innovation Strategies Allows Key Players to Maintain Market Position

The presence of key players in the global market encourages the companies to implement development strategies such as partnerships, mergers, and acquisitions. The companies operating in various segmented regions focus on implementing innovative strategies to develop product portfolio and ensure product differentiation to gain competitive advantage.

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Industry Development

• March 2020: Tate & Lyle, MIRA-Gel forms a gel at room temperature and is similar to the starch produced from cooked starches and heat-processed gel-forming agents or gums. These agents can be used for instant foods and cold processed starch.

A2 Milk Market to Worth USD 4.27 billion by 2029 at 11.0% CAGR during 2022-2029

The global A2 milk market size was pegged at USD 1.84 billion in 2021. The market is anticipated to surge from USD 2.03 billion in 2022 to USD 4.27 billion by 2029 at 11.0% CAGR during the forecast period. Fortune Business Insights™ has deep-dived these inputs in its latest research report, titled, “A2 Milk Market, 2022-2029.”

According to the analysis, A2 protein will be highly sought-after for easy digestion among the lactose intolerant population. A notable surge in disposable income and burgeoning population will complement increasing awareness about the upsides of A2 milk across emerging and advanced economies.

COVID-19 Impact

Closure of Supermarkets Challenged Stakeholders

The prevalence of the demand-supply gap challenged stakeholders striving to overcome challenges stemming from the COVID-19 pandemic. The closure of supermarkets did not bode well for the business outlook. That said, the trend for online stores and the resumption of global trade prompted industry players to invest in R&D investments. The prevailing trends suggest a robust outlook globally, with major players poised to inject funds to boost their footprint.

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Major Players Profiled in the Report:

• The A2 Milk Company (New Zealand)
• Godrej Jersey (India)
• Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF) (India)
• PROVILAC Dairy Farms Pvt. Ltd. (India)
• Freedom Foods Group (Australia)
• Vinamilk (Vietnam)
• Erden Creamery Private Limited (India)
• Nestle S.A. (Switzerland)
• Vedaaz Organics Pvt. Ltd. (India)
• Ripley Farms (U.S.)

Report Coverage

The report offers a comprehensive perspective of the market size, share, revenue, and volume. It has also delved into Porters’ Five Force analysis and SWOT analysis. Quantitative and qualitative assessments have provided a holistic view of the market. The primary interviews validate assumptions, findings, and the prevailing business scenarios. The report also includes secondary resources such as annual reports, press releases, white papers, and journals.

Segments

Liquid Segment to be Sought-After Due to Rising Consumption

Based on form, the market is segmented into liquid and powder. The liquid segment will contribute notably to the global market during the forecast period, mainly attributed to rising consumption and convenience. Notably, fresh A2 milk has become sought-after due to more selenium and phosphorous than powdered milk. Maximum nutrients are the biggest benefits for end-users to shift to the liquid form of the milk.

Supermarkets and Hypermarkets Segment to Remain Dominant with Easy Availability

In terms of distribution channel, the market is classified into supermarkets and hypermarkets, online retail, convenience stores, and others. The supermarkets and hypermarkets segment could account for a significant share of the global market on the heels of easy availability in stores. Besides, the post COVID 19 outlook suggests robust growth in the distribution channel due to ease of lockdown and resumption of trade.

With respect to geography, the market covers Asia Pacific, North America, Europe, the Middle East & Africa, and South America.

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Drivers and Restraints

Expanding Product Uses in Infant Formula to Underpin Industry Growth

The A2 milk market share will witness an upward trajectory owing to its popularity as substitute milk for infants. Leading manufacturers have infused funds into milk products for easy digestibility and similarity with breast milk. Furthermore, the prevalence of disease symptoms associated with the consumption of regular milk will prompt consumers to seek the milk product. Prominently, the soaring number of the lactose intolerant population could encourage manufacturers to boost their portfolios. However, high costs with regards to the maintenance of cows could impede the growth prospect.

Regional Insights

Asia Pacific to Witness Investments Galore with Bullish Presence of Breed Cows

The Asia Pacific market size was valued at USD 709.12 million in 2021 and will witness a similar trend owing to the rising prevalence of A2 breed cows. Besides, strong demand for dairy products in supermarkets, hypermarkets, and online stores will augur well for the regional growth. Moreover, the emergence of startups and the expanding footprint of well-established players will solidify the position of Asia Pacific in the global landscape.

The Europe A2 milk market growth will be pronounced owing to the presence of major companies across the U.K., Germany, and France. Furthermore, milk has become trendier in confectionery and bakery products. Stakeholders are likely to augment their research and development activities to tap into the regional market.

An increased emphasis on R&D activities and innovations has made North America a favorable investment hub. Bullish distribution channels across the U.S., Canada, and Mexico and the easy availability of A2 beta-casein milk products encourage major companies to expand their geographical presence.

Competitive Landscape

Stakeholders Prioritize Product Launches to Foster Portfolios

Prominent players could inject funds into mergers & acquisitions, product rollouts, technological advancements, and R&D activities. Besides, major companies could invest in innovations and product offerings in the ensuing period.

Key Industry Development

• August 2018 - Fonterra Cooperative Brand Anchor announced a strategic partnership with the A2 Milk Company Ltd. The aim of the partnership was to augment its milk portfolio and give more choices regarding milk to consumers.

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Cod Liver Oil Market to Hit USD 162.86 million by 2029 at a CAGR of 9.06% by 2022-2029

The global cod liver oil market size was USD 82.29 million in 2021. The market is projected to grow from USD 88.75 million in 2022 to USD 162.86 million by 2029 at a CAGR of 9.06% during the 2022-2029 period. Fortune Business Insights™ publishes this information in a report titled, "Cod Liver Oil Market, 2022-2029". As per the report, the market is likely to grow during the projected period due to increasing popularity of omega-3 dietary supplements.

List of Key Players Profiled in the Report:

• LYSI Iceland (Iceland)
• Nestle Health Science (Switzerland)
• Olvea Fish Oils (France)
• Vital Nutrients (U.S.)
• Power Health Products Ltd (U.K.)
• Mason Naturals (U.S.)
• Carlson Laboratories Inc. (U.S.)
• WN Pharmaceuticals Ltd. (Canada)
• NOW Health Group, Inc., (U.S.)
• Nordic Naturals Inc. (U.S.)

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COVID-19 Impact:

Rising Health Concerns Amid Pandemic to Bolster Market Growth

The demand for cod liver oil was growing during the pandemic due to increasing demand for food supplements and nutraceuticals among the population. Also, companies witnessed high sales of these oils to improve the immune system and reduce health issues. The rising health concerns bolstered the market growth during the pandemic period. Also, these oils are efficient and effective for the population from different age groups.

Segments:

Atlantic Segment to Lead Market Due to High Availability

By source, the market is trifurcated into Atlantic, Arctic, and others (Pacific, Greenland, and others). The Atlantic segment is expected to lead the global market due to increasing supplies and efficient manufacturing of fish liver oils.

Dietary Supplements Segment to Dominate Global Market During the Forecast Period

Based on application, the market is categorized into dietary supplements, pharmaceuticals, nutraceuticals, and personal care & cosmetics. The dietary supplements segment is projected to dominate the global market due to rising demand for omega-3 supplements.

Soft Gel Segment to Grow Due to Longer Shelf Life & Affordability

On the basis of form, the market is classified into liquid, soft gels, and capsules & tablets. The soft gels segment is projected to hold a dominant market share during the forecast period due to its efficiency, affordability, and higher shelf-life.

Geographically, the market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

The report provides complete information and insights on recent developments and trends in the market. Furthermore, the drivers and restraints affecting the market growth during the projected period are mentioned further in the report. Also, the impact of COVID-19 pandemic on global market development is highlighted further in this report. Regional market insights on segmented market areas are provided further along with a list of key market players in the industry.

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Drivers & Restraints:

High Demand for Omega-3 Dietary Supplements to Propel Growth

The rising consumption of fish oils is expected to bolster the cod liver oil market growth during the forecast period. Also, the rising inclusion of these oils in sports nutrition products is anticipated to drive the market. Furthermore, increasing popularity of omega-3 dietary supplements and increasing frequency of product launches by leading companies are anticipated to fuel the market growth.

However, high product prices may hinder market growth.

Regional Insights:

Europe Holds Largest Market Share Due to Rising Product Demand

Europe held the largest cod liver oil market share and stood at USD 37.57 million in 2021. The regional market growth is attributed to the increasing demand for nutraceuticals and high consumption of omega-3 supplements.

Competitive Landscape:

Rising Developments by Leading Companies to Maintain Their Market Position

The leading market players focus on increasing their production capacities to ensure high profitability in the emerging market. Also, the key players consider forming strategic alliances, mergers, and partnerships to propel growth and maintain their market position.

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Key Industry Development:

• February 2022: Carlson Laboratory Inc., a leading nutritional supplements manufacturing company, launched a new cod liver oil in green apple flavor. This new product developed for kids and adults provides 1,100 mg of omega-3s, with vitamins A and D3 per serving for adults, and 550 mg of omega-3s, with vitamins A and D3 for kids.

Vanilla Extract Market to Hit USD 6.29 billion by 2029, Exhibiting a CAGR of 3.52% by 2022-2029

The global vanilla extract market size was valued at USD 5.26 billion in 2021. The market is projected to grow from USD 4.94 billion in 2022 to USD 6.29 billion by 2029, exhibiting a CAGR of 3.52% during the forecast period.

This information is provided by Fortune Business Insights, in its report, titled “Vanilla Extract Market, 2022-2029.”

COVID-19 Impacts:

Spread of COVID-19 Across Globe Restrained Market Growth

The COVID-19 pandemic limited the supply of all commodities globally majorly in Q2 2020, which triggered interruptions in the supply chain and led to several products incapable to reach end-users. This further had consequences, such as less supply of ingredients and finished product, influencing the overall ingredients market including vanilla extracts, which registered disappointing growth in 2020.

Since the COVID-19 pandemic, the number of people cooking at home augmented, which resulted in an elevation of food & beverages sales.

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Segments:

Madagascar Vanilla Segment Holds Prime Market Share Accredited to Huge Yield and High Demand

Madagascar vanilla beans are produced in Madagascar and are measured to be the best of its kind for superior quality vanilla beans in the spice industry. Abundant rainfall and fertile soil make the prime circumstances for cultivation of vanilla plants.

Food & Beverages Segment Holds Key Share Owing to Expanded Applications of Product in Numerous Food Products

Vanilla extracts are utilized predominantly in the food & beverages industry in multiple forms. Its usage can be witnessed as flavoring and taste enhancers in candy, chocolate, pastry, ice-cream, dairy products, bakery items such as biscuits, cookies, waffles, baking mixes, muffins, cakes, and beverages such as soft drinks, confectionery, coffee drinks, sauces, as well as baby formulas.

In terms of region, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

The report offers valuable insights obtained by thorough study done by our researchers. An extensive research was conducted to provide an estimated size of the market. The data used to project the shares for multiple segments at the country, regional, and global levels is obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver precise information to make business investment decisions easy for you.

Drivers and Restraints:

Flourishing Food & Beverage Industry to Assist Vanilla Extract Market Growth

In the food industry, vanilla is chiefly utilized in ice cream preparation. The amplification of fast food chains globally is thriving ice cream ingestion as the fast food industry is among the pivotal consumers of ice cream. Surging consumer disposable income, increasing living standards, and refining consumer purchasing power are resulting in an upsurge in per capita consumption in developing countries such as India and China.

Furthermore, the requirement for gourmet and premium ice creams has elevated considerably owing to rising health consciousness among consumers due to its superior quality, delicate taste, provenance, exotic ingredients, and moral foundation.

Regional Insights:

Asia Pacific to Lead Backed by Presence of Major Players

Asia Pacific holds the prime vanilla extract market share owing to the existence of major food & beverages players in China and India as well as the incidence of huge number of pharmaceutical producing companies in Asia Pacific.

Europe is the second largest market for the product. This is primarily owing to the existence of some of the world’s biggest food companies as well as cosmetic product manufacturing companies. Europe is well-renowned as the cosmetic hub with numerous pioneering cosmetic companies having their headquarters situated in the EU region.

In North America, the U.S. and Canada are the prime and largest markets. Elevated demand for this product is chiefly observed from industries such a food & beverages as well as pharmaceutics.

Competitive Landscape:

Acquisitions Initiated by Key Companies to Promote Market Growth

The leading players in the market constantly opt for efficient strategies to bolster their brand value as well as promote the global market growth. One such efficient strategy is acquiring competitive companies and further securing a profit for both the companies.

List of Key Players Mentioned in the Report:

• Adams Extract (U.S.)
• F. Sauer Company (U.S.)
• McCormick & Company (U.S.)
• Frontier Natural Products (U.S.)
• Madécasse (U.S.)
• Nielsen-Massey Vanillas (U.S.)
• Watkins Incorporated (U.S.)
• Eurovanille (France)
• Firmenich (Switzerland)
• Symrise (Germany)
• Lochhead Manufacturing Company (U.S.)

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Key Industry Development:

July 2021: Archer Daniels Midland Company procured Rodelle Inc., which is the finest creator, processor, and dealer of vanilla products throughout the world. Rodelle offers solutions to dominating food and beverage players in the world, as well as directly to customers.

Bovine Gelatin Market Size to Hit SD 1.88 billion by 2029, exhibiting a CAGR of 6.46% by 2022-2029

The global bovine gelatin market size was USD 1.13 billion in 2021. The market is projected to grow from USD 1.21 billion in 2022 to USD 1.88 billion by 2029, exhibiting a CAGR of 6.46% during the 2022-2029 period.

This information is provided by Fortune Business Insights, in its report titled, “Bovine Gelatin Market, 2022-2029.”

COVID-19 Impacts:

Disruption in Raw Material Supply Leads to Negative Growth Amidst Pandemic

The unexpected COVID-19 pandemic has had an impact on many aspects of the economy, including manufacturing, financial growth, and consumer behavior. The global food industry's overall business was hindered by the widespread lockdown, the shutdown of production facilities, and logistical challenges. Due to the demand-supply imbalance, price increase, and poor logistics, these disruptions made it difficult to import and export raw materials.

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Segments:

Food & Beverages Segment to Account for the Major Market Share in the Industry

Based on application, the market is divided into food & beverages, healthcare & pharmaceuticals, cosmetics, and others. Out of all, the food & beverages segment, hold the largest market share due to rising consumer preferences for natural ingredients, which can be consumed on a daily basis.

Capsule & Tablets to Exhibit Solid Growth Owing to Rising Demand for Convenience

On the basis of form, the market is segmented into powder, capsule & tablets, and others. The capsule & tablets segment held the maximum revenue share in the year 2020 and is expected to remain dominant in the coming years.

Geographically, the market is segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Drivers and Restraints:

Consistent Focus on Research & Development Contributes to Market Growth

Due to growing consumer demand for numerous beneficial foods and beverages, the market is expanding. In recent years, customers have found gelatin-based items increasingly alluring for satisfying their unique whims and cravings. People are choosing gelatin-fortified goods to develop and sustain a healthy lifestyle, and they are looking for products and brands that can meet their daily needs.

Regional Insights:

Europe to Dominate Stoked by Growing Demand for Packaged Products

With a market value of USD 437.08 million in 2021, Europe dominated the global market. This is mainly attributed to the fact that end-use sectors, including cosmetics, pharmaceuticals, food & beverage, and others are seeing increased demand. Additionally, as gelatin is primarily used as a stabilizer in packaged meals as well as utilized to improve the shelf life, the growing demand for packaged goods in nations such as Germany and the U.K. also drives the need for bovine gelatin.

Asia Pacific is anticipated to have the second-largest bovine gelatin market share and is anticipated to continue to expand in the future.

Due to the growing use of gelatin in 3D photography and the treatment of arthritis, particularly in countries such as Brazil and Argentina, the use of products containing bovine gelatin is also increasing in South America.

Competitive Landscape:

Key Players Invest Heftily in Numerous Companies to Gain Impetus

The market observes trends such as investments by crucial players. Heavy investments assist companies to gain lucrative prospects and elevated revenue. Other tactical strategies involve collaborations, mergers, product launches, and so on.

List of Key Players Mentioned in the Report:

• NITTA GELATIN, INC. (Japan)
• Lapi Gelatin S.p.A. (Italy)
• Jellice Pioneer Europe B.V. (Netherlands)
• Darling Ingredients Inc. (U.S.)
• Gelita AG (Germany)
• Merck KGaA (Germany)
• Lonza Group (Switzerland)
• Bernard Jansen Products Inc. (U.S.)
• Luoyang Leston Import and Export Trade Co., Ltd. (China)
• Nutra Food Ingredients, LLC (U.S.)

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Key Industry Development:

December 2021: A Turkish company called Halavet Foods invested about USD 25 million in the introduction of a new halal gelatin plant throughout Turkey. The company wants to double the amount of gelatin it exports to the North American market in order to increase production capacity.

Corn Oil Market to Hit USD 9.37 billion by 2029 with a CAGR of 6.95% during 2022-2029

The global corn oil market size was valued at USD 5.34 billion in 2021 and USD 5.86 billion in 2022. The market is expected to reach USD 9.37 billion by 2029 with a CAGR of 6.95% during the forecast period. Diverse applications of corn oil in numerous industries such as pharmaceuticals, cosmetics, and animal feeds are predicted to drive market evolution. New advancement in the extraction of the oil is expected to propel the market course in a growing direction. Rise in the awareness regarding the importance of leading a healthy lifestyle is expected to facilitate market development. Fortune Business Insights™ shares this information in its report titled “Corn Oil Market, 2022-2029.”

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Segments

Edible Segment to Lead as it is One of the Preferred Oils for Cooking

Based on type, the market is bifurcated into edible and non-edible. The edible segment is anticipated to dominate as it is one of the preferred oils for cooking. According to the National Library of Medicine, the oil has high alpha and gamma tocopherols (vitamin E), which prevents the oil from rancidity. This property of the product makes it effective to use in salads and cooking oils.

Food and Beverage to Govern the Segment as it is Used in Commercial Kitchens

Based on application, the market is segmented into food & beverage, pharmaceuticals, cosmetics & personal care, animal feed, industrial, and biodiesel. The food & beverage segment is expected to have a major part as the product as it is increasingly used in commercial kitchens, owing to its higher smoke point than its substitutes such as canola oil and soybean oil. Thus, it is considered one of the ideal oils for deep-frying or shallow-frying in a skillet and has more flavor than other vegetable oils.

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Drivers and Restraints

Diversifying Usage of the Product to Propel Market Development

Diversifying usage of the product is anticipated to drive the corn oil market growth. There has been an increased usage of the product in various end-user industries such as pharmaceutical, cosmetics, industrial, and food & beverages. It helps in the production of soaps, hair care preparations, and powder for the face and body. It is also used in the skincare of pet animals as a massaging oil for dog hair, which makes the coat look healthier and also used to fed to horses to treat dull coat conditions. New innovation in the optimum extraction of the oil is set to positively impact the market growth.

However, the presence of various substitute oils is projected to hinder market growth.

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Regional Insights

North America to Lead Market Share Due to Increasing Consumption of Biodiesel

North America is expected to lead the corn oil market share due to increasing consumption of biodiesel. The growth for biodiesel is growing due to the growing demand for green fuels across the aviation industry. The region reached a valuation of USD 2.90 billion in 2021 due to increasing prevalence of obesity among the population of the U.S. Food manufacturers have launched initiatives to support the consumption of low-calorie and cholesterol-free oils so as to reduce cardiovascular diseases and blood-cholesterol levels and improve digestion and metabolism.

Europe is also set to hold an important position in the market due to growing demand from countries such as Germany and Italy. The demand in the region is high for feedstock production in European countries.

Competitive Landscape

Acquisition Strategies by Key Players to Advance Market Course

Various market players of the market have been focusing on acquisition strategies. In September 2021, Nestle agreed to acquire 100% of Agri Trading. The agreement is set to support renewable growth and enhanced the global renewable raw material sourcing and footprint in the U.S. Such goals related to renewable energy is set to facilitate the demand for products that are green in nature. The industry is experiencing an increase in the new entry of players with a range of innovative products, especially in developing nations.

List of Key Players Profiled in the Report

• Abu Dhabi Vegetable Oil Company LLC. (U.A.E)
• Archer-Daniels-Midland Company (U.S.)
• Associated British Foods (U.K.)
• Bluecraft Agro (India)
• Cargill Inc (U.S.)
• Grain Processing Corporation (U.S.)
• Greenfield Specialty Alcohols (Canada)
• Ingredion Incorporated (U.S.)
• Richardson International (Canada)
• Roquette Frères. (France)

Key Industry Development

• March 2022: Minnedosa Ethanol Plant (M.E.P.), an ethanol plant located in Minnedosa, Canada, started producing corn oil used to make renewable diesel. The new product has highlighted the company’s pledge of ingenuity, teamwork, and innovation in meeting the world’s ever-changing energy demands.

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COVID-19 Impact:

Increase in the Prices of the Oil During Pandemic Led to Positive Market Value

The COVID-19 pandemic significantly affected the food & beverage industry. The supply chains were majorly hampered due to the lockdown, production halt, and prolonged quarantine conditions. Factories had reduced a number of employees, which impacted the production of the oil. Lack of availability of corn oil in the market led to high prices and increase in the value of the market. According to the global analysis article by the Foreign Agricultural Service, in the U.S., the price of corn oil in the year 2019-20 was USD 870 per metric ton and increased to USD 1,193 per ton in 2020-21.