Corn oil is a pale-yellow substance obtained by the processing of corn. Corn is among the highest used crop used as food, feed, and as an industrial cereal. In addition to this, a surge in urbanization, health consciousness among the people, and the improved lifestyle of the masses have led to an increase in demand for quality products. These changes have also led to an increase in demand of cosmetics. Cosmetics prefer using corn oil owing to its characteristics such as its high antioxidant properties, and its use in nourishing and moisturizing hair, among other uses.
Manufacturers of cosmetics have been opting for attractive packaging and labeling in order to attract higher sales. In addition to this, online retailers have been offering deep discounts and attractive offers such as free shipping to boost the sales of cosmetics. The effective use of social media as a marketing tool to influence young customers is also likely to lead to the growth of cosmetics sales which in turn will drive the demand for corn oil in cosmetics.
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Impact of COVID-19
The coronavirus is having disrupted the supply chain of corn oil, which is largely in demand across Europe, the U.S., China, and India. These economies are also home to some of the largest consumer sectors and multinationals. Major producers of corn oil are likely to mobilize their operations to other parts that are less or not affected by this pandemic. New trade treaties are likely to be formed to facilitate the manufacturers and suppliers of corn oil in entering new markets. On consumption, consumers are likely to demand higher supply chain transparency. This is expected to usher in regulations and changes in government policies with regards to higher transparency in the supply chain.
The global pandemic has resulted in a decrease in various economic activities which will result in a decrease in the consumption power and eventually lead to a decline in the corn oil market.
Corn Oil Market Segmentation
By Distribution Channel
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* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now