The Europe Corn Oil Market would witness market growth of 7.2% CAGR during the forecast period (2024-2031). In the year 2021, the Europe market's volume surged to 115.92 kilo tonnes, showcasing a growth of 14.4% (2020-2023).
Non-edible corn oil, derived from the same source as edible corn oil but processed differently, serves numerous industrial applications rather than culinary uses. This type of oil, often a byproduct of ethanol production, is not refined to the same standards as edible oils and may contain impurities that make it unsuitable for consumption. Instead, it finds use in the production of biodiesel, providing a renewable energy source that helps reduce dependence on fossil fuels. Thus, the Germany market consumed 12.65 kilo tonnes of non-edible oil in 2023.
The Germany market dominated the Europe Corn Oil Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $584.3 million by 2031. The UK market is exhibiting a CAGR of 6.2% during (2024 - 2031). Additionally, The France market would experience a CAGR of 8% during (2024 - 2031).
This oil is extensively used in the pharmaceutical and cosmetic industries, serving as a base for medicinal formulations, skincare products, and cosmetics. Its emollient properties and ability to moisturize and soften the skin make it a sought-after ingredient in moisturizers, lotions, and hair care products. As the pharmaceutical industry continues to expand and innovate, the demand for this oil in pharmaceutical applications is expected to grow.
Corn oil's moisturizing and softening properties in skincare formulations make it a prized ingredient in moisturizers, lotions, and creams. Its capacity to restore lost moisture and build a barrier of defense on the skin's surface, especially for dry or sensitive skin types, aids in preventing moisture loss and maintaining ideal levels of hydration. Additionally, the oil's lightweight texture and non-comedogenic nature make it suitable for use in various skin care products, from lightweight serums to rich emollient creams.
The United Kingdom (UK) is experiencing a growing food and beverage sector driven by shifting consumer preferences, demographic trends, and evolving dietary habits. As per the data from the Government of the United Kingdom, with a value of £6.5 billion in 2021, beverages constituted the largest manufacturing category in terms of gross value added. Its share of the food and beverage manufacturing GVA was 21.4%. With a value of £6.3 billion in the same year, the other food products category ranked second in terms of value and accounted for 20.6% of the overall food and drink manufacturing GVA. In major European cities, the food service sector has flourished, offering a diverse range of cuisines, dining formats, and culinary experiences to cater to the preferences of residents and tourists alike. This oil, with its neutral flavor profile, high smoke point, and versatile culinary applications, is well-suited for use in food service settings, where it is utilized in frying, baking, salad dressings, and marinades. As per Eurostat, the accommodation and food services sector recorded a value-added of €146.4 billion in the EU in 2020. Thus, the growing food service and food & beverage sectors in Europe will increase the demand for this oil in the region.
Free Valuable Insights: The Global Corn Oil Market will Hit USD 10.3 Billion by 2031, at a CAGR of 7.4%
Based on Type, the market is segmented into Edible, and Non-Edible. Based on Application, the market is segmented into Food & Beverages, Biodiesel, Animal Feed, Cosmetics & Personal Care, Industrial, and Pharmaceuticals. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Type (Volume, Kilo Tonnes, USD Billion, 2020-31)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-31)
By Country (Volume, Kilo Tonnes, USD Billion, 2020-31)
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