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Corn Oil Market Size, Share & Industry Analysis, By Type (Edible and Non-Edible), By Application (Food & Beverage, Pharmaceuticals, Cosmetics & Personal Care, Animal Feed, Industrial, and Biodiesel), and Regional Forecast, 2024-2032

Last Updated: July 01, 2024 | Format: PDF | Report ID: FBI103810



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The global corn oil market size was valued at USD 6.17 billion in 2023 and is projected to grow from USD 6.52 billion in 2024 to USD 11.80 billion by 2032, exhibiting a CAGR of 7.69% during the forecast period. North America dominated the Corn Oil Market with a market share of 53.48% in 2023.

Corn or maize oil is a vegetable oil extracted from corn germs. The product is traditionally used as a cooking oil as it has several functional properties such as high smoke point, anti-inflammatory, and unsaturated fatty acids. Furthermore, the product has diversified applications in several industries, including pharmaceuticals, cosmetics, and animal feeds. The product is one of the key raw materials used to manufacture ethanol. The demand growth is fueled by the product's consumption for food, fuel, and industrial applications.

Corn oil has been significantly used across food & beverage applications over the past several years. It helps to improve the flavor of dishes, is favored by consumers experimenting with new dishes, and can provide a well-round culinary exposure.  The oil has several health benefits, such as better eye health and cholesterol management. It is a good source of vitamin E, is rich in essential fatty acids and is suitable for a balanced diet. Furthermore, it is one of the key raw materials used to produce biodiesel. The supply chain had been interrupted majorly due to the lockdown, production halt, and extended quarantine conditions. The factories reduced their production and supply by minimizing the number of employees in factories for safety purposes. It has negatively impacted its production and interfered with the product's availability in the market. The lack of availability of the product in the market caused prices to rise. For instance, according to the Foreign Agricultural Service global market analysis article, in the U.S., its price in the year 2019-20 was USD 870 per metric ton and increased to USD 1,193 per ton in the year 2020-21. Therefore, the global market experienced positive growth in terms of market value during the COVID-19 period.

Corn Oil Market Trends

Increasing Demand for Non-GMO and Fortified Products to Propel the Market Growth

The preference for food and beverage ingredients perceived as ‘clean’ is growing globally. As consumers look for foods that are clean-label and minimally processed, there has been increased demand by manufacturers for healthier alternatives in oils. For instance, in October 2018, Healthy Food Ingredients, an American company, introduced non-GMO product variants in the market. According to the company, this product is naturally refined, bleached, and deodorized. Furthermore, the company increased its production capacity for supply assurance. It has an excellent frying quality, pleasing taste, and high levels of polyunsaturated fats is ideal for many applications, including snack food, baking, food service, and retail bottling. Thus, increasing consumer preference for healthy and nutritious food products increases the demand for the product in the market.

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Corn Oil Market Growth Factors

Diversified Usage of Corn Oil in Various Industries to Propel the Product Demand

There has been an increased application of the product in several end-use industries, including pharmaceutical, cosmetics, industrial, and food & beverages over a period of time. It is used as a carrier of drug molecules in medicines. It acts as a disintegrant, which enables capsules or tablets to break down into small fragments to get dissolved easily and absorbed by the body. It helps in producing soaps, hair care preparations, and powder for the face and body. People primarily use it as cooking oil as it is composed of saturated fatty acid, monounsaturated fatty acid, and polyunsaturated fatty acids such as linolenic acid, linoleic acid, and oleic acid. These acids help to control the inflammation and excess cholesterol and reduce blood pressure delivering multiple benefits. It is used in small quantities to manufacture inks, textiles, soaps, rust inhibitors, rubber substitutes, and insecticides. It is also used in the skincare of pet animals; massaging oil into the dog’s hair makes the coat look healthier and is fed to horses to treat dull coat conditions. Thus, the product's diverse applications help propel the global market growth.

Latest Innovations in Optimal Corn Oil Extraction will Positively Impact the Overall Market Growth

Ethanol is a domestically produced alternative fuel that is made from oil derived from corn. Distillers Corn Oil (DCO) is a co-product of the corn-grain-to-ethanol process. It is also primarily marketed as a feedstock for biodiesel. In a corn ethanol facility, oil can be recovered from liquid streams by mechanical means that work under centrifugal force. However, it must first be liberated from the germ by milling or crushing. Thus, optimal extraction for ethanol producers becomes a crucial task. Therefore, industry players are developing innovative technologies to improve production efficiency. For instance, in June 2019, DuPont Nutrition & Biosciences (DuPont), an innovative and sustainable solution company across food, health, pharma, and biotech industries, launched DuPont OPTIMASH DCO+. The product is a patent-pending thermostable protease that helps to liberate the oil from the fiber matrix of the corn kernel and protein. The product helps ethanol producers to increase the yield without affecting the quality of distillers’ grains


Presence of Substitute Oils to Impede Market Growth 

There are several substitutes available in the market such as canola, rice bran, olive, and groundnut oil, which have similar amounts of calories and nutritional values. Moreover, some studies have claimed that the excessive consumption of corn oil can cause inflammation and imbalance in the omega-6 to omega-3 ratio. Also, the evolving consumer preferences while choosing edible oils compelled several companies to opt for competitive positioning for sustaining in the market. This leads to price impacts that hamper the market growth. Furthermore, the continuously increasing product price can slow market growth. Corn oil is derived by processing corn. Thus, any variation in the production of corn can impact corn oil production and cause uncertainty in its prices. The uneven weather patterns, which affect crop production globally, are a major factor that can hamper raw material availability and negatively impact the market’s growth.

Corn Oil Market Segmentation Analysis

By Type Analysis

Edible Segment to Hold Significant Corn Oil Market Share Owing to Rising Consumer Preference for Healthy Cooking Oils

On the basis of type, the market is segregated into edible and non-edible. Edible segment is expected to lead the segment as the product has various therapeutic properties, making it one of the preferable edible oils in cooking, especially frying. The oil provides various health benefits such as improving heart health, lowering cholesterol, lowering blood pressure, being an emollient for the skin, and others. According to the National Library of Medicine, the product contains high alpha and gamma tocopherols (vitamin E), which protects the oil from turning rancid. This property of the product makes it effective to use in salads and cooking oils. People with dietary issues such as heartburn and bloating prefer the product as it is highly digestible and provides energy and Essential Fatty Acids (EFA). The consumers focusing on living a healthy lifestyle are opting for the product, increasing its demand from the edible segment.

By Application Analysis

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Food & Beverage Segment to hold Significant Market Share Owing to Increased Usage of the Product

Based on application, the market is divided into food & beverage, pharmaceuticals, cosmetics & personal care, animal feed, industrial, and biodiesel. The food & beverage segment is expected to lead the segment.

The product plays an essential role in food preparation by enhancing food flavor, adding texture to the food, making baked products crispier, and helping conduct heat while cooking. The product is increasingly used in commercial kitchens due to its higher smoke point than its substitutes such as canola oil and soybean oil. Its smoke point is 450°. 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.

The product is used as feedstock for biodiesel production and as a supplement to animal feed. Several players have installed oil extraction systems in existing ethanol plants to increase the energy efficiency of production facilities and the total amount of fuel produced per metric ton of corn processed. For instance, in December 2021, Alto Ingredients, Inc., a producer of specialty alcohols and essential ingredients, announced that it has restarted its ethanol production at its Magic Valley, Idaho facility. The company also installed several types of machinery and systems to enhance the profitability and sustainability of the facility. The system would increase the yields by approximately 50% or nearly 9 million pounds annually. Thus, increasing biodiesel production globally will expand the global market size.


corn oil market Regional Analysis

North America holds a significant corn oil market share due to increasing applications of the product in feedstocks and food industries. Consumption of biodiesel has been increasing over the decade as an alternative to help curb environmental pollution. Biodiesel has witnessed significant growth owing to the increasing demand for green fuels across the aviation industry around North America. It will surge the product demand in the biodiesel industry. There is also a rising prevalence of obesity among the population of the U.S. Therefore, food manufacturers make significant efforts to promote the consumption of low-calorie and cholesterol-free oils that help reduce cardiovascular diseases and blood-cholesterol levels and improve digestion and metabolism. Research has shown that phytosterols reduce blood cholesterol by inhibiting its absorption from the intestines. According to the U.S. Department of Agriculture (USDA), the product contains 968 milligrams of phytosterols per 100 grams of oil and is the only oil containing a natural mixture of free phytosterol, phytosterol esters, and phytostarol esters. Thus, the rise in awareness regarding the importance of leading a healthy lifestyle accelerates the corn oil market growth.

Europe is expected to be one of the major markets contributing considerable revenue to the global market. The product demand in the region is majorly driven by Germany and Italy, which accounted for the highest share of feedstock production among the European countries. It is one of Europe's most common feedstocks for producing biodiesel.

The market in Asia Pacific is expected to grow at a higher CAGR in the forecast period. It is widely used for making several food products, including soaps, inks, and lotions. The government initiative policies to reduce carbon footprint in Asian countries, including China, India, Malaysia, and Indonesia, pushes biodiesel consumption, which directly impacts the demand. In 2020, China sought to implement a 10% biofuel use. This implementation was brought forward by the National Energy Administration (NEA), National Development and Reform Commission (NDRC), and other ministries under the "Implementation Plan Regarding the Expansion of Ethanol Production and Promotion for Transportation Fuel" program.

Furthermore, China’s biodiesel production is increasing year by year. According to the National Energy Administration (NEA), biodiesel production in 2021 reached 1.7 billion liters, an increase of more than 54% from 2020. The government initiatives to encourage biofuel consumption and increase biofuel production will contribute positively to market growth.

South America is expected to grow at a crucial pace owing to increasing corn production in Brazil and Argentina. Brazil is one of the largest biodiesel-producing countries in the world. According to the U.S. Department of Agriculture, ethanol production in Brazil reached 31.35 billion liters in 2022. According to the International Energy Agency (IEA), Brazil and the U.S. hold nearly 84% of global biodiesel production. The increasing biodiesel production in South American countries will propel the market growth in the forecast period. 

The Middle East & Africa market is expected to gain immense traction. The population in UAE comprises urban, younger, and educated individuals, and their affluence completed by health consciousness makes them choose oils that are lower in cholesterol and saturated fatty acids. The product is an excellent antioxidant due to the high content of vitamin E, omega 6, and essential fat, and it significantly fuels the demand in the market. Several players ensure to remain competitive in the market and apply strategies to increase the product portfolio. For instance, in 2019, Sime Darby Oils and Abu Dhabi Vegetable Oil Company entered a strategic partnership to market oils and fats products in the Middle East & African (MENA) region, where both companies would operate as a single sales and marketing team.

List of Key Companies in Corn Oil Market

Market Consolidation and Fierce Competition Among Major Companies to Impact the Market’s Growth

The global industry is becoming more consolidated owing to new product launches, brand loyalty, a wide range of product offerings, and a strong distribution channel presence of prominent companies in developed and developing economies. Furthermore, the industry is experiencing a surge in the new entry of players with a range of innovative products, especially in developing nations. For instance, in August 2019, Benson Hill Biosystems, a U.S. biotech company, entered into a partnership with Brownseed Genetics, a family-owned seed business that offered new corn hybrids that are higher in both oil content and essential amino acids. The new Brownseed Genetics breed of corn yielded about 9% of oil, nearly triple the average production. The company also targeted the corn-to-ethanol Industry with its E+ hybrid, which produced the oil as its by-product and was majorly used for cooking and biodiesel fuel.



  • November 2023: Canada-based cooking oil company Mazola launched new vegetable oil products. The company launched four oil varieties: vegetable oil, corn oil, canola olive oil blend and canola oil. These products are available in several retail outlets across Canada. 

  • August 2022: I.C.M. Inc, a U.S.-based biofuel industry, signed a contract with Impacto Energia S/A and its sister company, Impacto Bioenergia, a Brazil-based energy company. In the agreement, both companies agreed to build a new dry-mill ethanol production facility in Bahia and Brazil, with an estimated Q1 of the year 2025 start date. The new plant is designed for a daily grinding capacity of 1,700 metric tons of corn and is equipped with I.C.M.’s proprietary Base Tricanter System, Selective Milling Technology, and Fiber Separation Technology. The biorefinery would be able to recover 9,000 metric tons of corn oil.

  • June 2022: The Food Safety and Standards Authority of India (FSSAI) issued an order for the operationalization of the standards of crude corn oil in the Food Product Standards and Food Additives (F.S.S.) Regulations, 2011. The standards of crude oil had been incorporated through F.S.S. (Food Product Standards and Food Additives) Amendment Regulations 2022 and would be operationalized immediately. The proposed regulation laid standards for the oil: moisture % by weight at 0.25 max, the refractive index of 1.4637-1.4675 at 40 degrees, and others.

  • April 2022: Green Plains Inc, an American ethanol fuel producer company, announced that product and technology innovation efforts led to the production of greater than 60% protein concentrations with yields as high as 4 pounds per bushel at its Wood River, Nebraska, biorefinery, using the patented Fluid Quip Technologies MSC system. Modifications for the trial resulted in record-high low-carbon renewable corn oil yields of up to 1.4 pounds per bushel. This further expanded the company’s ability to supply a strategic feedstock to the fast-growing renewable diesel market.

  • 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 highlighted the company’s commitment to ingenuity, teamwork, and innovation in meeting the world’s ever-changing energy demands. The company used to produce fuel-grade ethanol and Dried Distillers Grain with Solubles (DDGS) which were valuable co-products of corn for the animal feed market. Due to the volatility of feedstock and product pricing, the company started producing Distillers Corn Oil (D.C.O.).

  • September 2021: Nestle, a Swiss multinational food and beverage industry, agreed to acquire 100% of Agri Trading, a major player in trading animal fat waste, used cooking oil, technical corn oil, and other vegetable oils. The agreement supported both companies' renewable growth strategy and further strengthened their global renewable raw material sourcing and footprint in the U.S.


An Infographic Representation of Corn Oil Market

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The research report provides qualitative and quantitative insights into the market and a detailed analysis of the global market segmentation, share, market size, and growth rate. The report also provides an elaborative industry analysis of different country markets. The report provides various key insights, the overview of related markets, market dynamics, SWOT analysis, recent industry developments such as mergers & acquisitions, regulatory scenario in key countries, key market trends, and the competitive landscape.

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Report Scope & Segmentation



Study Period


Base Year


Estimated Year


Forecast Period


Historical Period


Growth Rate

CAGR of 7.69% from 2024 to 2032


Value (USD Billion)


By Type

  • Edible

  • Non-edible

By Application

  • Food & Beverage

  • Pharmaceuticals

  • Cosmetics & Personal Care

  • Animal Feed

  • Industrial

  • Biodiesel

By Geography

  • North America (By Type, Application, and Country)

    • U.S. (By Application)

    • Canada (By Application)

    • Mexico (By Application)

  • Europe (By Type, Application, and Country)

    • Germany (By Application)

    • France (By Application)

    • Italy (By Application)

    • Spain (By Application)

    • U.K. (By Application)

    • Netherland (By Application)

    • Rest of Europe (By Application)

  • Asia Pacific (By Type, Application, and Country)

    • China (By Application)

    • India (By Application)

    • Japan (By Application)

    • Australia (By Application)

    • Rest of Asia Pacific (By Application)

  • South America (By Type, Application, and Country)

    • Brazil (By Application)

    • Argentina (By Application)

    • Rest of South America (By Application)

  • Middle East and Africa (By Type, Application, and Country)

    • UAE (By Application)

    • South Africa (By Application)

    • Rest of ME&A (By Application)

Frequently Asked Questions

Fortune Business Insights says that the global market was USD 6.17 billion in 2023 and is projected to reach USD 11.80 billion by 2032.

Growing at a CAGR of 7.69%, the market will exhibit robust growth during the forecast period (2024-2032).

The food & beverage segment is expected to hold a prominent share in the forecast period.

Increased application of the product from diversified end-use industries is predicted to surge the demand for the product in the global market.

Abu Dhabi Vegetable Oil Company LLC., Ingredion Incorporated, Cargill Inc, Roquette Frères, and Richardson International are some of the key players in the market.

North America is expected to hold the highest market share in the global market.

The edible oil segment is expected to hold the dominant share of the global market.

Rapidly increasing consumer’s concerns regarding healthy cooking oil and biodiesel consumption to reduce environmental pollution are the key trends driving the market growth.

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