North America Edible Oils and Fats Market Forecast to 2030
North America Edible Oils and Fats Market Forecast to 2030 – Regional Analysis – By Type [Fats (Butter, Margarine, Palm Oil Based Shortening, Vegetable Oil Based Shortening, and Others) and Oils (Soybean Oil, Sunflower Oil, Palm Oil, Canola Oil/Rapeseed Oil, and Others)] and Application [Food and Beverages (Bakery and Confectionery, Dairy and Frozen Desserts, RTE and RTC Meals, Snacks, and Others), Animal Nutrition, and Pharmaceuticals and Nutraceuticals]
$2,840 – $4,440
- Description
- Toplines
- Reasons for Buying
- Table of Contents
- List of Tables
- LIst of Figures
- List of Companies
- Reviews (0)
Description
Strategic Development Initiatives by Manufacturers Drive North America Edible Oils and Fats Market
Manufacturers of edible fats and oils invest significantly in the expansion of business and production capacity to serve their customer base better and meet their consumer requirements. In December 2021, ITOCHU Corporation, headquartered in Japan, announced their agreement through ITOCHU International Inc., headquartered in New York, US, for the establishment of Fuji Oil International Inc. in the US. With this agreement, the firm plans to strengthen the oil and fat business in North America. Also, in October 2021, ADM, one of the prominent edible fat and oil manufacturers, announced its plans to build the first-ever dedicated soybean crushing plant and refinery in North Dakota to cater to the fast-growing demand for soybean oil from food and animal feed industries. Thus, the business expansion strategies of prominent players drive the edible oils and fats market growth.
North America Edible Oils and Fats Market Overview
The North America edible oils and fats market is segmented into the US, Canada, and Mexico. Consumers in the region extensively demand products with lower trans-fat content and higher nutritional value, boosting the requirement for low-fat and low-calorie edible oils and fats. Thus, manufacturers are launching low-cholesterol and plant-based products to cater to consumers’ demand for healthy products. For instance, in November 2019, Bunge Loders Croklaan announced the launch of 100% sustainable shea-based margarine for the bakery industry. The launch was aimed to cater to the growing demand for plant-based alternatives from bakery manufacturers. In addition, the demand for convenience food and surging snacking trends in the region are contributing to the market growth. Working professionals are increasingly shifting toward ready-to-eat (RTE) and ready-to-cook (RTC) meals to save cooking time and effort. According to the US Bureau of Labor Statistics (BLS), 69% of the people worked from the office in 2023. Hence, the rising number of working professionals tends to increase the demand for RTE and RTC meals. Edible oils and fats play a crucial role in RTE and RTC meals. It delivers calories and essential fats and helps an individual body absorb fat-soluble vitamins such as A, E, D, and K, further driving the edible oils and fats demand from RTE and RTC meal processors across the region. Further, Cargill Incorporated, Bunge Limited, ADM, and FUJI OIL HOLDINGS INC are a few prominent edible oils and fats market players across North America. The players adopt strategic initiatives such as product launches, mergers and acquisitions, and collaborations to expand their consumer base, product portfolio, and logistic network across the world. For instance, in October 2021, ADM, one of the prominent edible fat and oil manufacturers in the US, announced its plans to build the first-ever dedicated soybean crushing plant and refinery in North Dakota to cater to the fast-growing demand for soybean oil from food and animal feed industries. Thus, strategic initiatives from key regional manufacturers propel the growth of the North America edible oils and fats market.
North America Edible Oils and Fats Market Revenue and Forecast to 2030 (US$ Million)
North America Edible Oils and Fats Market Segmentation
The North America edible oils and fats market is segmented based on type, application, and country.
Based on type, the North America edible oils and fats market is bifurcated into oils and fats. The oils segment held a larger share in 2023 . The fats segment is further subsegmented into butter, margarine, palm oil based shortening, vegetable oil based shortening, and others. The oils segment is further subsegmented into soybean oil, sunflower oil, palm oil, canola oil/rapeseed oil, and others.
By application, the North America edible oils and fats market is segmented into food and beverages, animal nutrition, pharmaceuticals and nutraceuticals . The food and beverages segment held the largest share in 2023. The food and beverages segment is further subsegmented into bakery and confectionery, dairy and frozen desserts, RTE and RTC meals, snacks, and others.
Based on country, the North America edible oils and fats market is segmented into the US, Canada, and Mexico. The US dominated the North America edible oils and fats market in 2023.
AAK AB, Archer-Daniels-Midland Co, Bunge Ltd, Cargill Inc, ConnOils LLC, Fuji Oil Co Ltd, J-Oil Mills Inc, Kao Corp, Louis Dreyfus Co BV, and Olam Group Ltd are some of the leading companies operating in the North America edible oils and fats market.
Summary Info
| Industry: | |
|---|---|
| Pricing options: | |
| Geographical coverage: | |
| Year of Publication: |
According to the Research Team’ research, the North America edible oils and fats market was valued at US$ 13,404.50 million in 2023 and is expected to reach US$ 18,576.30 million by 2030, registering a CAGR of 4.8% from 2023 to 2030. Rising demand for edible oils and fats from food & beverage processing industry and strategic development initiatives by manufacturers are among the critical factors attributed to the North America edible oils and fats market expansion.
According to the United States Department of Agriculture (USDA), soy oil is the second largest consumed vegetable oil. It is extensively utilized for frying, cooking, shortening, and margarine. According to the Organization for Economic Co-operation and Development (OECD), in 2023, the consumption of vegetable oil reached 249 million metric tons, with the food sector accounting for the major share. Moreover, the confectionery industry significantly utilizes butter as a primary ingredient, followed by margarine. The high-quality edible oils and fats are used in bakery and confectionery, dairy and frozen desserts, snacks, Ready-to-Eat (RTE) and Ready-to-Cook (RTC) meals, and other food and beverage items. Refined oils and fats are a rich source of lipids. Thus, their use is increasing due to rising application and growing global population.
The food & beverages industry in North America is continuously growing owing to an upsurging inclination toward sustainability, preference for convenience and ready-to-eat products, and rising adoption of organic and plant-based products. The industry is witnessing substantial motion with innovation in processes, products, and services to cater to rapidly changing consumer preferences.
According to the United States Census Bureau, the US had 39,646 food and beverage manufacturing plants in 2020. Of which California, Texas, and New York had 6,116, 2,625, and 2,600 respectively. Thus, the growing food & beverages industry across the globe propels the demand for edible oils and fats.
On the contrary, increasing prices of edible oils hampers the growth of North America edible oils and fats market.
Based on type, the North America edible oils and fats market is bifurcated into oils and fats. The oils segment held 66.6% share of the North America edible oils and fats market in 2023, amassing US$ 8,923.10 million. It is projected to garner US$ 12,600.84 million by 2030 to expand at 5.1% CAGR during 2023–2030. The fats segment is further subsegmented into butter, margarine, palm oil based shortening, vegetable oil based shortening, and others. The oils segment is further subsegmented into soybean oil, sunflower oil, palm oil, canola oil/rapeseed oil, and others.
By application, the North America edible oils and fats market is segmented into food and beverages, animal nutrition, pharmaceuticals and nutraceuticals. The food and beverages segment held 75.4% share of the North America edible oils and fats market in 2023, amassing US 10,107.06 million. It is projected to garner US$ 14,017.96 million by 2030 to expand at 4.8% CAGR during 2023–2030.
Based on country, the North America edible oils and fats market is segmented into US, Canada, and Mexico. The US held 73.9% share of North America edible oils and fats market in 2023, amassing US$ 9,525.60 million. It is projected to garner US$ 13,114.97 million by 2030 to expand at 4.1% CAGR during 2023–2030.
Key players operating in the North America edible oils and fats market are AAK AB, Archer-Daniels-Midland Co, Bunge Ltd, Cargill Inc, ConnOils LLC, Fuji Oil Co Ltd, J-Oil Mills Inc, Kao Corp, Louis Dreyfus Co BV, and Olam Group Ltd, among others.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in North America edible oils and fats market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth North America market trends and outlook coupled with the factors driving the edible oils and fats market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
3.4 Limitations and Assumptions
4. North America Edible Oils and Fats Market Landscape
4.1 Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturing Process
4.3.3 Distributors or Suppliers
4.3.4 End Users
4.3.5 List of Vendors
5. North America Edible Oils and Fats Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Demand for Edible Oils and Fats from Food & Beverage Processing Industry
5.1.2 Strategic Development Initiatives by Manufacturers
5.2 Market Restraints
5.2.1 Increasing Prices of Edible Oils
5.3 Market Opportunity
5.3.1 Growing Demand for Plant-based Shortenings and Low-fat Oils
5.4 Future Trend
5.4.1 Adoption of Microencapsulation Technology
5.5 Impact Analysis
6. Edible Oils and Fats Market – North America Market Analysis
6.1 North America Edible Oils and Fats Market Revenue (US$ Million)
6.2 North America Edible Oils and Fats Market Forecast and Analysis
7. North America Edible Oils and Fats Market Analysis – Type
7.1 Oils
7.1.1 Overview
7.1.2 Oils Market Revenue and Forecast to 2030 (US$ Million)
7.1.3 Soybean Oil
7.1.3.1 Overview
7.1.3.2 Soybean Oil Market Revenue and Forecast to 2030 (US$ Million)
7.1.4 Sunflower Oil
7.1.4.1 Overview
7.1.4.2 Sunflower Oil Market Revenue and Forecast to 2030 (US$ Million)
7.1.5 Palm Oil
7.1.5.1 Overview
7.1.5.2 Palm Oil Market Revenue and Forecast to 2030 (US$ Million)
7.1.6 Canola Oil/Rapeseed Oil
7.1.6.1 Overview
7.1.6.2 Canola Oil/Rapeseed Oil Market Revenue and Forecast to 2030 (US$ Million)
7.1.7 Others
7.1.7.1 Overview
7.1.7.2 Others Market Revenue and Forecast to 2030 (US$ Million)
7.2 Fats
7.2.1 Overview
7.2.2 Fats Market Revenue and Forecast to 2030 (US$ Million)
7.2.3 Butter
7.2.3.1 Overview
7.2.3.2 Butter Market Revenue and Forecast to 2030 (US$ Million)
7.2.4 Margarine
7.2.4.1 Overview
7.2.4.2 Margarine Market Revenue and Forecast to 2030 (US$ Million)
7.2.5 Palm Oil Based Shortening
7.2.5.1 Overview
7.2.5.2 Palm Oil Based Shortening Market Revenue and Forecast to 2030 (US$ Million)
7.2.6 Vegetable Oil Based Shortening
7.2.6.1 Overview
7.2.6.2 Vegetable Oil Based Shortening Market Revenue and Forecast to 2030 (US$ Million)
7.2.7 Others
7.2.7.1 Overview
7.2.7.2 Others Market Revenue and Forecast to 2030 (US$ Million)
8. North America Edible Oils and Fats Market Analysis – Application
8.1 Food and Beverages
8.1.1 Overview
8.1.2 Food and Beverages Market Revenue, and Forecast to 2030 (US$ Million)
8.1.3 Bakery and Confectionery
8.1.3.1 Overview
8.1.3.2 Bakery and Confectionery Market Revenue, and Forecast to 2030 (US$ Million)
8.1.4 Dairy and Frozen Desserts
8.1.4.1 Overview
8.1.4.2 Dairy and Frozen Desserts Market Revenue, and Forecast to 2030 (US$ Million)
8.1.5 RTE and RTC Meals
8.1.5.1 Overview
8.1.5.2 RTE and RTC Meals Market Revenue, and Forecast to 2030 (US$ Million)
8.1.6 Snacks
8.1.6.1 Overview
8.1.6.2 Snacks Market Revenue, and Forecast to 2030 (US$ Million)
8.1.7 Others
8.1.7.1 Overview
8.1.7.2 Others Market Revenue, and Forecast to 2030 (US$ Million)
8.2 Animal Nutrition
8.2.1 Overview
8.2.2 Animal Nutrition Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Pharmaceuticals and Nutraceuticals
8.3.1 Overview
8.3.2 Pharmaceuticals and Nutraceuticals Market Revenue and Forecast to 2030 (US$ Million)
9. North America Edible Oils and Fats Market – Country Analysis
9.1 North America Edible Oils and Fats Market – Country Analysis
9.1.1 North America Edible Oils and Fats Market Revenue and Forecasts and Analysis – By Countries
9.1.1.1 North America Edible Oils and Fats Market Breakdown by Country
9.1.1.2 US: North America Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
9.1.1.2.1 US: North America Edible Oils and Fats Market Breakdown by Type
9.1.1.2.2 US: North America Edible Oils and Fats Market Breakdown by Application
9.1.1.3 Canada: North America Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
9.1.1.3.1 Canada: North America Edible Oils and Fats Market Breakdown by Type
9.1.1.3.2 Canada: North America Edible Oils and Fats Market Breakdown by Application
9.1.1.4 Mexico: North America Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
9.1.1.4.1 Mexico: North America Edible Oils and Fats Market Breakdown by Type
9.1.1.4.2 Mexico: North America Edible Oils and Fats Market Breakdown by Application
10. Competitive Landscape
10.1 Company Positioning & Concentration
10.2 Heat Map Analysis by Key Players
11. Company Profiles
11.1 Bunge Ltd
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Archer-Daniels-Midland Co
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Fuji Oil Co Ltd
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Kao Corp
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 AAK AB
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 J-Oil Mills Inc
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Cargill Inc
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Olam Group Ltd
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 ConnOils LLC
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Louis Dreyfus Co BV
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
LIST OF TABLES
Table 1. North America Edible Oils and Fats Market Segmentation
Table 2. North America Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. North America Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 4. North America Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million) – Application
Table 5. US: North America Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million) – By Type
Table 6. US: North America Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million) – By Application
Table 7. Canada: North America Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million) – By Type
Table 8. Canada: North America Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million) – By Application
Table 9. Mexico: North America Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million) – By Type
Table 10. Mexico: North America Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million) – By Application
Table 11. Company Positioning & Concentration
LIST OF FIGURES
Figure 1. North America Edible Oils and Fats Market Segmentation, By Country
Figure 2. North America Edible Oils and Fats Market – Porter’s Analysis
Figure 3. Ecosystem: North America Edible Oils and Fats Market
Figure 4. Market Dynamics: North America Edible Oils and Fats Market
Figure 5. North America Edible Oils and Fats Market Impact Analysis of Drivers and Restraints
Figure 6. North America Edible Oils and Fats Market Revenue (US$ Million), 2020 – 2030
Figure 7. North America Edible Oils and Fats Market Share (%) – Type, 2022 and 2030
Figure 8. Oils Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Soybean Oil Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. Sunflower Oil Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. Palm Oil Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Canola Oil/Rapeseed Oil Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. Fats Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. Butter Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. Margarine Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. Palm Oil Based Shortening Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. Vegetable Oil Based Shortening Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. North America Edible Oils and Fats Market Share (%) -Application, 2022 and 2030
Figure 21. Food and Beverages Market Revenue and Forecasts to 2030 (US$ Million)
Figure 22. Bakery and Confectionery Market Revenue and Forecasts to 2030 (US$ Million)
Figure 23. Dairy and Frozen Desserts Market Revenue and Forecasts to 2030 (US$ Million)
Figure 24. RTE and RTC Meals Market Revenue and Forecasts to 2030 (US$ Million)
Figure 25. Snacks Market Revenue and Forecasts to 2030 (US$ Million)
Figure 26. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 27. Animal Nutrition Market Revenue and Forecasts to 2030 (US$ Million)
Figure 28. Pharmaceuticals and Nutraceuticals Market Revenue and Forecasts to 2030 (US$ Million)
Figure 29. North America Edible Oils and Fats Market by Key Countries-Revenue (2022) (US$ Million)
Figure 30. North America Edible Oils and Fats Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 31. US: North America Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
Figure 32. Canada: North America Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
Figure 33. Mexico: North America Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
Figure 34. Heat Map Analysis by Key Players
The List of Companies – North America Edible Oils and Fats Market
1. AAK AB
2. Archer-Daniels-Midland Co
3. Bunge Ltd
4. ConnOils LLC
5. Cargill Inc
6. Fuji Oil Co Ltd
7. J-Oil Mills Inc
8. Kao Corp
9. Louis Dreyfus Co BV
10. Olam Group Ltd
You must be logged in to post a review.
Reviews
There are no reviews yet.