U.S. vegetable oil market estimated at $98.6 billion in 2019, and is estimated to reach $130 billion by 2027, registering a CAGR of 4.9% from 2021 to 2027.
PORTLAND, OREGON, UNITED STATES, September 1, 2022 /EINPresswire.com/ — The report offers an extensive analysis of changing market trends, top winning strategies, key segments, Porter’s Five Forces, and business performance of key market players.
The number of consumers interested in reducing the amount of replacing bad fats (saturated and trans) with healthier fats (monounsaturated and polyunsaturated) in their diet for health reasons has increased gradually. Hence, the food & beverage industry players are responding by developing a range of trans-fat alternatives through hydrogenation and interesterification to modify vegetable oil for numerous applications. For instance, food processing manufacturers are replacing dairy fats with vegetable oil in dairy applications, including products such as ice cream, spreads, cheese, and yoghurt. Furthermore, the expansion of food retail outlets and rise in away-from-home consumption has propelled the demand for vegetable oils by the food processing industry.
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Leading industry players in the research include Cargill Inc., Deoleo, S.A., J M Smucker Company, Pompeian, Inc., Richardson International Limited, Archer-Daniels-Midland Company, Associated British Foods, Bunge Limited, Ventura Foods, LLC, and Wilmar International Limited.
Covid-19 Scenario-
A slight negative impact has been noticed on the oilseeds and U.S. vegetable oil market during the lockdown, due to low export demand.
The lockdown and social distancing norms led to shutdown of restaurants across the globe, which in turn decreased the demand from the food service industry.
Nevertheless, the government bodies in various regions are easing off the regulations. This may aid the industry to coup up with the situation.
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The U.S. vegetable oil market is segmented based on product type and distribution channel. Based on product type, the market is divided into soybean oil, palm oil, sunflower oil, olive oil, canola oil, corn oil, and others. The soybean oil segment held the highest market share in 2018, contributing to around one-third of the total share, and is estimated to maintain its leadership status throughout the forecast period. On the other hand, the canola oil segment is expected to grow at the highest CAGR of 6.3% from 2021 to 2027.
Based on distribution channel, the report is segmented into business-to-business (B2B) and business-to-consumers (B2C). The B2Csegment held the highest market share in 2018, accounting for more than half of the total share, and is expected to maintain its dominant share throughout the forecast period. On the other hand, theB2B segment would register the highest growth rate, with a CAGR of 5.7% from 2021 to 2027.
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