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World - Crude Maize (Corn) Oil - Market Analysis, Forecast, Size, Trends And Insights
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The global crude maize (corn) oil market is forecast to continue its upward consumption trend, with an anticipated CAGR of +3.0% in volume and +5.2% in value from 2022 to 2030. In 2022, approximately 3M tons of crude maize oil were consumed worldwide, with the United States, China, and Brazil leading in consumption volumes. Production of crude maize oil decreased in 2022 for the first time since 2019, with notable fluctuations in output volume over the years. Despite a slight decrease in imports, the market value for crude maize oil is expected to increase. The United States remains the largest exporter of crude maize oil, with a significant share of global exports. Overall, the market shows potential for growth and developments in the coming years.
Market Forecast
Driven by increasing demand for crude maize (corn) oil worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market volume to 3.8M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +5.2% for the period from 2022 to 2030, which is projected to bring the market value to $4.6B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Crude Maize (Corn) Oil
In 2022, approx. 3M tons of crude maize (corn) oil were consumed worldwide; approximately equating 2021. The total consumption volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption reached the peak volume at 3.4M tons in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.
The global crude maize oil market value expanded slightly to $3.1B in 2022, surging by 4.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the global market reached the peak level at $3.3B in 2018; however, from 2019 to 2022, consumption failed to regain momentum.
Consumption By Country
The countries with the highest volumes of consumption in 2022 were the United States (982K tons), China (528K tons) and Brazil (217K tons), together accounting for 57% of global consumption. South Africa, Belgium, Turkey, Japan, Italy, Singapore, France, Kuwait, Tunisia and Saudi Arabia lagged somewhat behind, together accounting for a further 22%.
From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +36.8%), while consumption for the other global leaders experienced more modest paces of growth.
In value terms, the largest crude maize oil markets worldwide were the United States ($827M), China ($470M) and South Africa ($189M), with a combined 49% share of the global market. Brazil, Japan, Kuwait, Turkey, Singapore, Tunisia, Belgium, Saudi Arabia, France and Italy lagged somewhat behind, together accounting for a further 26%.
Among the main consuming countries, Singapore, with a CAGR of +37.9%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.
The countries with the highest levels of crude maize oil per capita consumption in 2022 were Kuwait (13 kg per person), Singapore (10 kg per person) and Belgium (6.4 kg per person).
From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +35.6%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Crude Maize (Corn) Oil
In 2022, production of crude maize (corn) oil decreased by -1.8% to 2.9M tons for the first time since 2019, thus ending a two-year rising trend. The total output volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 9.5%. Over the period under review, global production reached the maximum volume at 3.4M tons in 2018; however, from 2019 to 2022, production failed to regain momentum.
In value terms, crude maize oil production contracted modestly to $2.4B in 2022 estimated in export price. Overall, production showed a noticeable slump. The pace of growth was the most pronounced in 2014 with an increase of 33% against the previous year. As a result, production reached the peak level of $3.6B. From 2015 to 2022, global production growth remained at a lower figure.
Production By Country
The countries with the highest volumes of production in 2022 were the United States (1M tons), China (528K tons) and Brazil (256K tons), with a combined 62% share of global production. South Africa, Italy, Japan, France, Belgium, Canada, Turkey, Argentina and South Korea lagged somewhat behind, together comprising a further 20%.
From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +14.0%), while production for the other global leaders experienced more modest paces of growth.
Imports
World Imports of Crude Maize (Corn) Oil
In 2022, overseas purchases of crude maize (corn) oil were finally on the rise to reach 419K tons after two years of decline. Over the period under review, imports, however, showed a mild decrease. The most prominent rate of growth was recorded in 2016 with an increase of 27% against the previous year. As a result, imports reached the peak of 512K tons. From 2017 to 2022, the growth of global imports remained at a lower figure.
In value terms, crude maize oil imports rose remarkably to $562M in 2022. In general, imports, however, continue to indicate a slight decrease. The most prominent rate of growth was recorded in 2021 with an increase of 44%. Over the period under review, global imports attained the maximum at $632M in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.
Imports By Country
The United States (64K tons), Kuwait (57K tons), Singapore (50K tons), Tunisia (50K tons) and Saudi Arabia (50K tons) represented roughly 65% of total imports in 2022. It was distantly followed by Turkey (27K tons), making up a 6.4% share of total imports. Azerbaijan (13K tons), Egypt (12K tons), Belgium (11K tons) and Greece (9.7K tons) held a little share of total imports.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Singapore (with a CAGR of +37.5%), while imports for the other global leaders experienced more modest paces of growth.
In value terms, Kuwait ($89M), Singapore ($79M) and Tunisia ($77M) constituted the countries with the highest levels of imports in 2022, with a combined 44% share of global imports.
Singapore, with a CAGR of +39.3%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Import Prices By Country
The average crude maize oil import price stood at $1,343 per ton in 2022, shrinking by -1.9% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 50% against the previous year. As a result, import price reached the peak level of $1,370 per ton, and then contracted modestly in the following year.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Azerbaijan ($1,974 per ton), while the United States ($511 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (+10.6%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Crude Maize (Corn) Oil
In 2022, approx. 295K tons of crude maize (corn) oil were exported worldwide; reducing by -7.4% against 2021 figures. Overall, exports recorded a perceptible descent. The growth pace was the most rapid in 2015 when exports increased by 30% against the previous year. The global exports peaked at 565K tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.
In value terms, crude maize oil exports fell to $388M in 2022. In general, exports continue to indicate a pronounced setback. The growth pace was the most rapid in 2021 with an increase of 45%. Over the period under review, the global exports attained the peak figure at $574M in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.
Exports By Country
In 2022, the United States (97K tons), distantly followed by Canada (64K tons), Brazil (42K tons), Hungary (26K tons) and Turkey (14K tons) represented the key exporters of crude maize (corn) oil, together comprising 82% of total exports. Argentina (13K tons) and France (10K tons) took a little share of total exports.
From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +91.5%), while shipments for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($156M) remains the largest crude maize oil supplier worldwide, comprising 40% of global exports. The second position in the ranking was taken by Brazil ($63M), with a 16% share of global exports. It was followed by Hungary, with an 11% share.
In the United States, crude maize oil exports contracted by an average annual rate of -8.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+3.8% per year) and Hungary (+0.6% per year).
Export Prices By Country
The average crude maize oil export price stood at $1,315 per ton in 2022, rising by 7.6% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 49%. The global export price peaked in 2022 and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hungary ($1,632 per ton), while Canada ($513 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.3%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global crude maize oil market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 60 - Oil of Maize
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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