The 2023-2028 World Outlook for Corn Oils

The 2023-2028 World Outlook for Corn Oils

This study covers the world outlook for corn oils across more than 190 countries. For each year reported, estimates are given for the latent demand, or potential industry earnings (P.I.E.), for the country in question (in millions of U.S. dollars), the percent share the country is of the region, and of the globe. These comparative benchmarks allow the reader to quickly gauge a country vis-à-vis others. Using econometric models which project fundamental economic dynamics within each country and across countries, latent demand estimates are created. This report does not discuss the specific players in the market serving the latent demand, nor specific details at the product level. The study also does not consider short-term cyclicalities that might affect realized sales. The study, therefore, is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved.

This study covers corn oils as defined by the North American Industrial Classification system or NAICS (pronounced "nakes").

The NAICS code for corn oils is 3112218. It is for this definition that aggregate latent demand estimates are derived. Corn oils is specifically defined as follows:

3112218 CORN OIL

31122181 Corn oil

3112218111 Crude corn oil

3112218121 Once refined corn oil, after alkali or caustic wash, but before deodorizing or use in end products, made from oilseeds crushed in the same establishment

3112218131 Fully refined corn oil, including margarine oil, made from seeds crushed in the same establishment