North America Vegetable Oils Market

North America Vegetable Oils Market Size, Share, Growth Analysis, By Type(Palm Oil, Soybean Oil), By Packaging type(Tinplate Containers, HDPE (High Density Polyethylene) Containers), By Distribution Channel(Direct, Indirect), By End Use(Domestics, Industrial) - Industry Forecast 2023-2030


Report ID: SQMIR30H2150 | Region: Regional | Published Date: February, 2024
Pages: 223 | Tables: 133 | Figures: 77

North America Vegetable Oils Market Insights

North America Vegetable Oils Market size was valued at USD 8.1 billion in 2021 and is poised to grow from USD 8.64 billion in 2022 to USD 13.65 billion by 2030, growing at a CAGR of 6.7% in the forecast period (2023-2030).

Demand for edible healthy oils sourced naturally is boosting the demand for vegetable oils in the market. Rapid growth of the processed food industry will further boost demand for them during the forecast period.

Palm oil sector holds 29.6% of market share in the market and is likely to stay ahead in the competition due to its wide availability and low cost. Consumers are increasingly demanding palm oil due to these factors.

Soybean oil is also likely to gain popularity due to its widespread usage in the processed food industry. It finds extensive application due to its ability to emulsify and bland flavor.

Increasing awareness about consumption of unrefined and saturated fat from animal sources is encouraging consumers to shift towards vegetable oils. Oil processing industries in Mexico and Canada are further boosting the market growth.

Malaysia and Indonesia remain two top exporters of vegetable oils and are expected to rise by 1.4% and 1.8% respectively. Malaysia exports about 80% of its output and Indonesia exports about 70% of its vegetable oils. Argentina, which also exports more than two-thirds of the domestically produced vegetable oil, is followed by Indonesia and Malaysia.

North America Vegetable Oils Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 8.1 billion

Largest Segment

Indirect

Fastest Growth

Indirect

Growth Rate

6.7% CAGR

North America Vegetable Oils Market ($ Mn)
States Share for US Country (%)
North America Vegetable Oils Market By Distribution Channel ($ Mn)
North America Vegetable Oils Market By Distribution Channel (%)

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North America Vegetable Oils Market Segmental Analysis

North America Vegetable Oils Market is segmented based on type, package type, distribution channel, End-User and Region. Based on type the north america vegetable oils market is further sub-segmented into palm oil, soybean oil, rapeseed oil, sunflower oil, peanut oil, specialty blended oil, olive oil, corn oil, flaxseed oil, avocado oil, walnut oil, pumpkin seed oil, grapeseed oil and other segments. , Based on package type the North America Vegetable Oils Market is further sub segmented into tinplate containers, HDPE (High Density Polyethylene) Containers, PVC (Poly Vinyl Chloride) Bottles, PET (Polyethylene Terephthalate) Bottles, Glass Bottles, Semi – Rigid Containers, Flexible Plastic Pouches and Others. According to the distribution channel the North America Vegetable Oils Market is further segregated into direct and indirect segments. Based on End User the North America Vegetable Oils Market is further sub segmented into domestics, industrial, food service and others. Based on region the North America Vegetable Oils Market is further sub segmented into US, Canada, Mexico in North America.

North America Vegetable Oils Market Analysis based on the type

The vegetable oil is projected to be the biggest section at some stage in the forecast duration. The fitness advantages, clean availability, and cost-effectiveness are a number of the elements that have driven the market for fat & oils. Within vegetable oils, the palm oil segment has ruled the marketplace, as its miles are easily available and is fantastically greater stable than other oils.

North America Vegetable Oils Market Analysis based on source

The vegetable phase is predicted to maintain its dominance for the foreseeable length. Vegetable oils from sunflower, rapeseed, soybean, palm, cottonseed, and coconut are tremendously utilized in food programs that have pushed the market for vegetable-sourced oils. The qualities associated with vegetable oils inclusive of low fats, low-LDL cholesterol, and occasional-calorie content material are registering a boom inside the phase. Additionally, the type of use of vegetable oils in food in addition to different industries inclusive of pleo-chemical industries, animal feed, and strength & biomass industry has also driven the marketplace for vegetable oils.

North America Vegetable Oils Market Analysis based on form

liquid oils are projected to witness the best growth in the north america vegetable oils market. The liquid shape of fats & oils is forecasted to dominate the market. but, the physical characteristics of fat and oils rely upon a lot of factors which include a diploma of unsaturation, the length of the determined carbon chain, the isomeric sorts of the fatty acids, molecular configuration, and processing variables, but it is believed that the liquid oils are more unsaturated and are therefore more desired by the clients.

The most popular form of oil on the market is palm, which is mostly produced in Indonesia and Malaysia. During the projection period, Indonesia's palm oil production is expected to expand by 1.8% annually. Furthermore, nations like Nigeria, Colombia, and Thailand will experience rapid development in the use of palm oil.

North America Vegetable Oils Market By Distribution Channel, 2021 (%)

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North America Vegetable Oils Market Regional Insights

United States holds the highest market share for vegetable oils and is expected to reach 17.5 million metric tonnes in 2021. At the moment, the nation holds an 8.28% market share worldwide. Canada is expected to grow by 3.3% during the forecast period. Increasing adoption of biofuel and export of processed food products is boosting the demand for vegetable oils in this region.

The market in Mexico is expected to grow moderately during the forecast period as the economy is growing. Increasing population and import of oil from neighbouring countries such as Canada and the U.S. is expected to bring lucrative opportunities in the country. Effective involvement of local players to adopt and innovate packaging, branding, and labelling of these products will further drive the market growth.

North America Vegetable Oils Market By Geography, 2023-2030
  • Largest
  • Fastest

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North America Vegetable Oils Market Dynamics

North America Vegetable Oils Market Driver

Numerous Health Benefits of Vegetable Oils to Boost its Demand

  • Over the past 25 years, the consumption of olive oil has nearly doubled in North America. The accompanying health advantages of oil have mostly been the driving force behind its rising demand. Olive oil has a variety of uses in the pharmaceutical business due to its antioxidant properties. Numerous chronic disorders are treated with olive oil. Additionally, with a 45.8%  share of the global import, Italy, the United States, and Spain are the top three countries for buying olive oil. While Spain, Italy, and Tunisia are the major producers of olive oil, together making up 62.9%  of global exports.
  • The USDA research indicates that, after China, the United States is the country that produces the most soybean oil. 10.995 Million metric tonnes of soybean oil were produced in the nation in 2018–2019, of which 881 million metric tonnes were exported. Additionally, the strong demand for soybean oil for fuel applications drove domestic consumption, accounting for 10,659 thousand metric tonnes of total consumption. Thus, this limited the product's export value. Furthermore, there is little palm oil consumption in the United States. Due to its cheaper cost and widespread use in the food and personal care sectors, businesses are investing in expanding the application in the nation.

North America Vegetable Oils Market Restraint

High Cost and Low Availability of Raw Materials to Hinder Market Growth

  • On the other hand, it is predicted  that the high cost of the products and the limited supply of raw materials will restrain market expansion. Additionally, in the forecast period of 2022–2028, the usage of artificial/synthetic ingredients in a variety of applications that pose health risks and a lack of regulatory consistency are expected to pose challenges to the edible oil market. The High Expenses of North America Vegetable Oils(BNT) operations are A Major Deterrent to The North America Vegetable Oils Market.

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North America Vegetable Oils Market Competitive Landscape

The top market participants have a wide geographic reach and a wide range of products to meet a variety of consumer wants. This element helps the business keep a solid grip on the market. Cargill, Inc., Fuji Oil Holding Inc., Archer Daniels Midland Company, AGYDSA, Olam International Limited, and Wilmar International Limited are just a few of the significant competitors.

North America Vegetable Oils Market Top Player’s Company Profiles

  • Archer Daniels Midland Company
  • Cargill, Incorporated
  • Bunge Limited
  • Louis Dreyfus Company B.V.
  • CHS Inc.
  • Richardson International Limited
  • Ag Processing Inc
  • Ventura Foods, LLC
  • The J.M. Smucker Company
  • The Hershey Company
  • The Kraft Heinz Company
  • Conagra Brands, Inc.
  • The Clorox Company
  • Unilever PLC
  • The Procter & Gamble Company
  • The Coca-Cola Company
  • PepsiCo, Inc.
  • General Mills, Inc.
  • Kellogg Company
  • Nestle S.A.

North America Vegetable Oils Market Recent Development

  • In June 2022, Cargill laid out plans to construct a new USD two hundred million palm oil refinery in Indonesia to boost up its efforts to broaden a sustainable palm delivery chain and offer established deforestation-unfastened products to customers.
  • In February 2021, ADM planned to build its first-ever devoted soybean crushing and refinery in the US to satisfy the short-growing call for food, feed, industrial and biofuel customers, consisting of manufacturers of renewable diesel.
  • In December 2021, Richardson worldwide received the Wesson Oil emblem of Conagra meals Inc. which is an iconic suitable for eating oil brand inside the US. The product imparting includes vegetable oils, canola oils, corn, and blended oils which would assist Richardson to establish a robust foothold within the North American market.

North America Vegetable Oils Key Market Trends

Reduced Carbon Footprint to Motivate Consumption of Vegetable Oils Market

  • Biodiesel is an opportunity to diesel gas with fossil gas electricity assets. It has a bonus over diesel gas because it no longer runs out and maintains to grow within the fields. Rapeseeds, soybeans, the fruit of oil palms, and even vintage safe-to-eat fat are best for biodiesel manufacturing. It's far from a non-toxic, biodegradable, and renewable gasoline made from several renewable uncooked substances, consisting of sparkling or waste vegetable oils, animal fats, and oilseed plant life. Environmental compatibility of land use, a verifiable saving of greenhouse emissions, and coexistence with food manufacturing are the main standards of sustainability maintained in biodiesel manufacturing. Therefore, biodiesel and fit-to-be-eaten vegetable oils are produced with a much less dangerous impact on the environment. Also, the rising costs of diesel fuel and continuous climatic adjustments because of the emission of greenhouse gases power the market for the manufacturing and utilization of biodiesel.

North America Vegetable Oils Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, the Increasing Use of olive oil dominated the North America Vegetable Oils Market in 2021 and is expected to maintain its dominance throughout the forecast period. In 2021, the US-dominated the North America Vegetable Oils Market owing to the region's highly aware and economically stable population. Players in the market are investing in R&D activities to stay ahead in the competition and cater to larger consumer groups.

Report Metric Details
Market size value in 2021 USD 8.1 billion
Market size value in 2030 USD 13.65 billion
Growth Rate 6.7%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Palm Oil, Soybean Oil, Rapeseed Oil, Sunflower Oil, Peanut Oil, Specialty Blended Oil, Olive Oil, Corn Oil, Flaxseed Oil, Avocado Oil, Walnut Oil, Pumpkin Seed Oil, Grapeseed Oil, Others
  • Packaging type
    • Tinplate Containers, HDPE (High Density Polyethylene) Containers, PVC (Poly Vinyl Chloride) Bottles, PET (Polyethylene Terephthalate) Bottles, Glass Bottles, Semi – Rigid Containers, Flexible Plastic Pouches, Others
  • Distribution Channel
    • Direct, Indirect
  • End Use
    • Domestics, Industrial, Food Service, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Archer Daniels Midland Company
  • Cargill, Incorporated
  • Bunge Limited
  • Louis Dreyfus Company B.V.
  • CHS Inc.
  • Richardson International Limited
  • Ag Processing Inc
  • Ventura Foods, LLC
  • The J.M. Smucker Company
  • The Hershey Company
  • The Kraft Heinz Company
  • Conagra Brands, Inc.
  • The Clorox Company
  • Unilever PLC
  • The Procter & Gamble Company
  • The Coca-Cola Company
  • PepsiCo, Inc.
  • General Mills, Inc.
  • Kellogg Company
  • Nestle S.A.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on North America Vegetable Oils Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on North America Vegetable Oils Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the North America Vegetable Oils Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the North America Vegetable Oils Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the North America Vegetable Oils Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the North America Vegetable Oils Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

North America Vegetable Oils Market size was valued at USD 8.1 billion in 2021 and is poised to grow from USD 8.64 billion in 2022 to USD 13.65 billion by 2030, growing at a CAGR of 6.7% in the forecast period (2023-2030).

The top market participants have a wide geographic reach and a wide range of products to meet a variety of consumer wants. This element helps the business keep a solid grip on the market. Cargill, Inc., Fuji Oil Holding Inc., Archer Daniels Midland Company, AGYDSA, Olam International Limited, and Wilmar International Limited are just a few of the significant competitors. 'Archer Daniels Midland Company', 'Cargill, Incorporated', 'Bunge Limited', 'Louis Dreyfus Company B.V.', 'CHS Inc.', 'Richardson International Limited', 'Ag Processing Inc', 'Ventura Foods, LLC', 'The J.M. Smucker Company', 'The Hershey Company', 'The Kraft Heinz Company', 'Conagra Brands, Inc.', 'The Clorox Company', 'Unilever PLC', 'The Procter & Gamble Company', 'The Coca-Cola Company', 'PepsiCo, Inc.', 'General Mills, Inc.', 'Kellogg Company', 'Nestle S.A.'

Over the past 25 years, the consumption of olive oil has nearly doubled in North America. The accompanying health advantages of oil have mostly been the driving force behind its rising demand. Olive oil has a variety of uses in the pharmaceutical business due to its antioxidant properties. Numerous chronic disorders are treated with olive oil. Additionally, with a 45.8%  share of the global import, Italy, the United States, and Spain are the top three countries for buying olive oil. While Spain, Italy, and Tunisia are the major producers of olive oil, together making up 62.9%  of global exports.

Biodiesel is an opportunity to diesel gas with fossil gas electricity assets. It has a bonus over diesel gas because it no longer runs out and maintains to grow within the fields. Rapeseeds, soybeans, the fruit of oil palms, and even vintage safe-to-eat fat are best for biodiesel manufacturing. It's far from a non-toxic, biodegradable, and renewable gasoline made from several renewable uncooked substances, consisting of sparkling or waste vegetable oils, animal fats, and oilseed plant life. Environmental compatibility of land use, a verifiable saving of greenhouse emissions, and coexistence with food manufacturing are the main standards of sustainability maintained in biodiesel manufacturing. Therefore, biodiesel and fit-to-be-eaten vegetable oils are produced with a much less dangerous impact on the environment. Also, the rising costs of diesel fuel and continuous climatic adjustments because of the emission of greenhouse gases power the market for the manufacturing and utilization of biodiesel.

United States holds the highest market share for vegetable oils and is expected to reach 17.5 million metric tonnes in 2021. At the moment, the nation holds an 8.28% market share worldwide. Canada is expected to grow by 3.3% during the forecast period. Increasing adoption of biofuel and export of processed food products is boosting the demand for vegetable oils in this region.

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North America Vegetable Oils Market

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