IMARC Group, a leading market research company, has recently released a report titled “North America Vegetable Oil Market Report by Oil Type (Palm Oil, Soybean Oil, Sunflower Oil, Canola Oil, Coconut Oil, Palm Kernel Oil, and Others), Application (Food Industry, Biofuels, and Others), and Country 2024-2032.” The study provides a detailed analysis of the industry, including the North America vegetable oil market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the North America Vegetable Oil Market?
The North America vegetable oil market size reached 27.0 Million Tons in 2023. Looking forward, IMARC Group expects the market to reach 39.9 Million Tons by 2032, exhibiting a growth rate (CAGR) of 4.44% during 2024-2032.
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North America Vegetable Oil Market Trends and Drivers:
The high inclination of consumers towards health and well-being is one of the factors responsible for the growth of the North America vegetable oil market. Additionally, there is a rising demand for healthier, plant-based oils, such as canola, soybean, and olive oil, which are perceived as healthier alternatives to animal fats and certain highly processed oils, which is fueling the market. This shift is largely influenced by the growing health-conscious consumer base that is keen on reducing cholesterol levels and enhancing heart health through diet. Moreover, the increasing popularity of cooking shows and culinary websites has also educated consumers on the benefits of using specific types of vegetable oils in their cooking, further bolstering demand for vegetable oils.
Another significant trend in the North America vegetable oil market is the sustainable sourcing and organic production of these oils. Additionally, consumers are increasingly favoring products that are environmentally friendly and ethically produced, leading to a surge in demand for organic and non-GMO oils, which is positively impacting the market. This is particularly evident in the United States and Canada, where there is a strong movement towards organic and natural food products. Furthermore, manufacturers are responding by ensuring their supply chains are sustainable and transparent, often incorporating certifications like USDA Organic or Non-GMO Verified to appeal to eco-conscious shoppers, thereby propelling the market. Technological advancements in oil extraction and processing have also enabled producers to enhance efficiency and quality, catering to the premium market segment, which is anticipated to drive the North America vegetable oil market over the forecasted period.
What is Included in Market Segmentation?
The report has categorized the market based on oil type and application.
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
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Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- 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.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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