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 2024-2031

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

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.

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North America Vegetable Oils Market size was valued at USD 8.1 billion in 2019 and is poised to grow from USD 8.64 billion in 2023 to USD 13.65 billion by 2031, growing at a CAGR of 6.7% in the forecast period (2024-2031).

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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