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U.S. Vegetable Oil Market Expected To Grow At A CAGR Of 4.9%: Cargill, Deoleo, S.A., J M Smucker Company
(MENAFN- EIN Presswire)
The 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.
WILMINGTON, DE, UNITED STATES, November 15, 2024 /EINPresswire / -- Numerous applications of vegetable oil, growing popularity of fast food, and changes in consumer lifestyle toward more convenient foods in the food service and food processing industries augment the growth of the U.S. vegetable oil market .
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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. Moreover, in the recent years, food traceability has become an important aspect among consumers. They care more about what they are eating and where their food products are sourced from. Furthermore, consumers are demanding creativity, flexibility, and variety in their diets; hence, they are experimenting with new products and adding new healthy vegetable oils in their diet. This is expected to drive the growth of the U.S. vegetable oil market size. Moreover, the restriction on trans-fat has created growth avenues for palm oil in the food industry as the trans-fat-free replacement ingredient of choice. This can create U.S. vegetable oil market opportunities and enable further growth and expansion.
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.
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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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Get Access to Report Sample by clicking here:
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. Moreover, in the recent years, food traceability has become an important aspect among consumers. They care more about what they are eating and where their food products are sourced from. Furthermore, consumers are demanding creativity, flexibility, and variety in their diets; hence, they are experimenting with new products and adding new healthy vegetable oils in their diet. This is expected to drive the growth of the U.S. vegetable oil market size. Moreover, the restriction on trans-fat has created growth avenues for palm oil in the food industry as the trans-fat-free replacement ingredient of choice. This can create U.S. vegetable oil market opportunities and enable further growth and expansion.
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.
Place a direct purchase order of this report at:
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.
Send Me Enquire Here@
Similar Reports:
Frozen Seafood Market:
Health Drinks Market:
Dairy Protein Market:
Milk Protein Concentrate Market:
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