North America Fats and Oils Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The North America Fats and Oils Market is segmented by Product (Oils - Soybean Oil, Canola Oil, Palm Oil, Olive Oil, Sunflower Seed Oil, and Other Oils, and Fats - Butter, Lard, and Other Fats), Application (Food and Beverage, Animal Feed, Personal Care and Cosmetics and Other Applications), and by Country.

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North America Fats & Oil Market Size

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north-america-fats-and-oil-market_Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 3.20 %
Market Concentration Low

Major Players

North America Fats and Oils Market

*Disclaimer: Major Players sorted in no particular order
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North America Fats & Oil Market Analysis

The North American fats and oils market is projected to grow at a CAGR of 3.2%, during the forecast period (2020 - 2025).

  • Changing consumer dietary habits is projected to positively influence the fats & oils market over the forecast period. The rise in processed food consumption coupled with high-quality edible oil demand is expected to have a positive impact on the fats & oils market.
  • An increase in awareness of obesity and its association with heart diseases and diabetes are responsible for the changing food trend among consumers. Oils and fats' manufacturers are focusing on manufacturing healthier products, including low-cholesterol and low-carbohydrate foods, in order to cater to the growing demand from health-conscious consumers.
  • Shifting consumer buying patterns have gained the attraction of fats & oil suppliers, prompting them to update their product portfolios for reflecting potential demand for varieties along with added benefits.

North America Fats & Oil Market Trends

This section covers the major market trends shaping the North America Fats & Oil Market according to our research experts:

Rise in the Consumption of Olive Oil

Consumption of olive oil is continuously rising in the region, as it is considered to be healthy dietary fat. Olive oil constitutes a considerable amount of monounsaturated fatty acids. As per the Food and Drug Administration (FDA), eating two tablespoons of olive oil a day may reduce the risk of heart diseases. Consumption of olive oil has several other benefits, such as lowering the risk of osteoporosis, blood pressure, diabetes, and cholesterol. Furthermore, fatty acids (such as omega-3 and omega-6) essential for brain health are also present in extra-virgin olive oil. Due to the tremendous benefits offered by the consumption of olive oil, the demand for oil has increased to a greater extent across the United States and other North American markets.

fats and oil market

United States Dominates the Regional Market

The United States is a major potential market in the world, owing to its high consumption and exports of oils. The country is the world’s largest producer of soybean and almost half of the total crops is processed domestically into soybean meal and oil. The country is also the largest exporter of soybean oil, followed by rapeseed oil. With the rising healthcare expenditure, increasing cognizance about various cardiovascular diseases, and rise in obesity rates, the consumers are switching to healthier vegetable oil options, such as olive oil and canola oil, as these oils are free from trans-fat. In addition, they have low saturated fat and have high omega-3 fatty acids. Moreover, vegetable oil is considered to be a healthier alternative to animal fats, as they contain more unsaturated fatty acids. The market in the United States is changing and moving away from refined 18:12 oils toward concentrates and others. Heart health, inflammation control, mental acuity, and joint health tend to be the priority associations connected with omega-3 fish oil in the market in the United States.
fats and oil market

North America Fats & Oil Industry Overview

The North American fats and oils market is a fragmented market and comprises of regional and international competitors. ADM, Bunge Limited, Wilmar, and Cargill are some of the prominent companies operating in the market. The sustainable competitive advantage through differentiation is high. Manufacturers are increasingly introducing product innovations, in terms of ingredients, price and functionalities. This has led to a high degree of competition in the market.

North America Fats & Oil Market Leaders

  1. Ag Processing Inc.

  2. Wilmar International Ltd

  3. Archer Daniels Midland

  4. Cargill Incorporated

  5. Bungee Limited

*Disclaimer: Major Players sorted in no particular order

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North America Fats & Oil Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products and Services

      5. 4.3.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product

      1. 5.1.1 Oils

        1. 5.1.1.1 Soybean Oil

        2. 5.1.1.2 Canola Oil

        3. 5.1.1.3 Palm Oil

        4. 5.1.1.4 Olive Oil

        5. 5.1.1.5 Sunflower Seed Oil

        6. 5.1.1.6 Other Oils

      2. 5.1.2 Fats

        1. 5.1.2.1 Butter(Excluding Dairy Butter)

        2. 5.1.2.2 Lard

        3. 5.1.2.3 Other Fats

    2. 5.2 Application

      1. 5.2.1 Food and Beverage

        1. 5.2.1.1 Bakery and Confectionary

        2. 5.2.1.2 Savory Snacks

        3. 5.2.1.3 Dairy

        4. 5.2.1.4 Other Food and Beverage

      2. 5.2.2 Animal Feed

      3. 5.2.3 Personal Care and Cosmetics

      4. 5.2.4 Other Applications

    3. 5.3 By Geography

      1. 5.3.1 United States

      2. 5.3.2 Canada

      3. 5.3.3 Mexico

      4. 5.3.4 Rest of North America

  6. 6. Competitive Landscape

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Cargill Incorporated

      2. 6.3.2 Wilmar International Ltd

      3. 6.3.3 Bunge Limited

      4. 6.3.4 Ag Processing Inc.

      5. 6.3.5 Archer Daniels Midland Company

      6. 6.3.6 Richardson International Limited

      7. 6.3.7 Olam International

      8. 6.3.8 Arista Industries

    4. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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North America Fats & Oil Industry Segmentation

Based on product type, the market studied is segmented into fats and oils. Based on fats, the market studied is further segmented into butter, lard, and other fats. Based on oils, the market studied is further segmented into soybean oil, canola oil, palm oil, sunflower seed oil, olive oil, and other oils. Based on the application, the market studied is segmented into food and beverages, animal feed, personal care and cosmetics, and other applications. Based on food and beverages, the market is further segmented into bakery and confectionery, savory snacks, dairy, and other food and beverage. Based on the country, the market studied is segmented into the United States, Canada, Mexico, and the rest of North America.

Product
Oils
Soybean Oil
Canola Oil
Palm Oil
Olive Oil
Sunflower Seed Oil
Other Oils
Fats
Butter(Excluding Dairy Butter)
Lard
Other Fats
Application
Food and Beverage
Bakery and Confectionary
Savory Snacks
Dairy
Other Food and Beverage
Animal Feed
Personal Care and Cosmetics
Other Applications
By Geography
United States
Canada
Mexico
Rest of North America
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North America Fats & Oil Market Research FAQs

The North America Fats and Oils Market is projected to register a CAGR of 3.20% during the forecast period (2024-2029)

Ag Processing Inc., Wilmar International Ltd, Archer Daniels Midland, Cargill Incorporated and Bungee Limited are the major companies operating in the North America Fats and Oils Market.

The report covers the North America Fats and Oils Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Fats and Oils Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

North America Fats and Oils Industry Report

Statistics for the 2024 North America Fats and Oils market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Fats and Oils analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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North America Fats and Oils Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)