Project report for Corn Oil

In India, corn oil is not very popular for domestic uses. Rising cardiovascular diseases has shifted the consumer focus towards consumption of food containing low cholesterol which is expected to drive the segment growth of Industry in near future. Moreover, food processor segment is expected to account for substantial growth over the forecast period. Consumers are now focusing on healthy life-style, due to this they carefully choose the products they buy and use. In addition, easy access to information has made them aware about the availability of different types of oils and fats in the market. Thus, now food processors are trying to respond to consumer demand by offering stable and healthy products.

Corn oil is oil extracted from the germ of corn. Its main use is in cooking, where its high smoke point makes refined corn oil a valuable frying oil. It is also a key ingredient in some margarines. Corn oil is generally less expensive than most other types of vegetable oils. 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 market has been segmented on the basis of Edible and non-edible corn oil. Among both of this segment non edible segment is expected to show robust growth over the forecast period. Edible segment is expected to show substantial growth in terms of volume. Edible segment is further sub segmented as food service restaurants, food processor, and retail.

The global corn oil market reached a value of INR 363.910 Crores in 2020. Increasing consumption of corn oil as a biodiesel alternative in order to reduce carbon footprint is expected to support the demand of corn oil during the forecast period. Moreover, increasing government regulation especially important in states with low carbon fuels standards such as California is further expected to support the market demand. Furthermore, corn oil provides essential fatty acids like linoleic acid which is essential for immune function, as well as it enables to lower high blood pressure in people who are suffering from hypertension which is expected to fuel the market growth in the near future. The growing incidences of lifestyle diseases coupled with rising health awareness among consumers has significantly contributed in driving the demand for corn oil globally. Moreover, the use of corn oil in the production of biofuel and various other industrial products such as soaps, paints, textiles, pharmaceuticals, poultry, pesticides etc. have further augmented the growth of the market. Additionally, apart from food and biodiesel applications, corn oil also has a wide array of other industrial applications such as soaps, paints, pesticides, textiles etc. With increasing global population and economic growth across both developed and emerging markets, these end-use industries are also expected to witness substantial growth, creating a positive impact on the demand of corn oil.