According to IMARC Group’s latest report, titled “North America Vegetable Oil Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market reached a volume of 19.6 Million Tons in 2020. Vegetable oils are plant-based oils extracted from nuts, seeds, fruits, etc. They contain numerous essential nutrients, including omega-3 and omega-6 fatty acids, polyunsaturated, monounsaturated and saturated fats, vitamin E, etc. Vegetable oils improve digestion and metabolism, reduce the risk of cardiovascular diseases, lower cholesterol levels, etc. They are readily available, lesser volatile, more affordable and viscous, and offer better pressure performance than mineral oils. As a result, vegetable oils find extensive applications across several industries, such as food, personal care, biofuels, etc.
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The increasing utilization of vegetable oils in the food industry owing to the growing consumption of convenient and fast-food items, including potato chips, French fries, mayonnaise, etc., is primarily driving the North America vegetable oil market. Moreover, the growing demand for these oils as a base for flavored content and as a shortening agent to enhance the texture of food products is also augmenting the regional market. Besides this, various inedible vegetable oils are gaining traction in industrial applications, including the manufacturing of pharmaceutical and cosmetic products, paints, lubricants, etc. Furthermore, the rising number of regulations in the region pertaining to the disposal and recyclability of petrochemicals, which is encouraging the usage of vegetable oils in biodiesel or biofuel production, is expected to catalyze the North America vegetable oil market over the forecasted period. Looking forward, the North America vegetable oil market is expected to grow at a CAGR of 4.4% during the forecast period (2021-2026).
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Segmentation:
Report Scope:
- North America Vegetable Oil Market
- Key Regions Analysed
- United States
- Canada
- Mexico
- Analysis for Each Country
- Market by Oil Type
- Palm Oil
- Soybean Oil
- Sunflower Oil
- Canola Oil
- Coconut Oil
- Palm Kernel Oil
- Others
- Market by Application
- Food Industry
- Biofuels
- Others
- Value Chain Analysis
- Key Drivers and Challenges
- Porters Five Forces Analysis
- PESTEL Analysis
- Government Regulations
- Competitive Landscape
- Competitive Structure
- Key Player Profiles
Report Coverage:
- Base Year Considered: 2020
- Historical Data Coverage: 2015-2020
- Market Forecast: 2021-2026
- Currency: US$
- Geography Covered: North America, United States, Canada and Mexico
- Segments Covered: Oil Type and Application.
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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