North America Fats and Oils Market to Rise Steadily at 4.5% CAGR; Increasing Demand for Canola and Corn Oil to Boost Market, says Fortune Business Insights

The rising awareness about health and increasing number of consumers switching to healthy fats and oils are boosting North America Fats and Oils Market. In a report titled, “North America Fats and Oils Market: Global Market Analysis, and Forecasts, 2019 – 2026”, Fortune Business Insights identifies various factors enabling growth. 

According to the report, the North American market for fats and oils is anticipated to exhibit a CAGR of 4.5% and rise from 25.92 million tonnes to 36.60 million tonnes within the forecast period of 2018 to 2026.

Launch of Calyno High Oleic Soybean Oil by Calyxt, Inc., to Give Impetus to Market

Market vendors of oils and fats in North America are turning all tables to generate higher revenue. One of the major strategies adopted by major vendors is investing huge sums in the research and development for extracting oils and fats with the help of unique techniques to keep the purity of the natural ingredient intact. Besides this, players are focusing on the launch of innovative products for attracting consumers. To cite an example, the launch of Calyno high oleic soybean oil by the company Calyxt, Inc., in 2019 is anticipated to bode well for the overall market. This product claims to contain zero grams of trans fat (per serving) and 80% of oleic acid and can also be utilized for salad dressings, and frying purpose, among others. Such innovations are likely to prove beneficial for North America oils and fats market in the years to come.

Some of the players operating in North America fats and oils market are Perdue Agribusiness, Archer Daniels Midland Company, Louis Dreyfus Company, Riceland Foods, Incobrasa Industries, Cargill Incorporated, Bunge North America, Ag Processing, Inc., Viterra Inc., and Associated British Foods Plc (ABF), among others. 

Switch to Healthier Source of Nutrients Fueling Demand for Vegetable Oils

The population and the diversified demand for food is increasing day by day. This, accompanied by the rising trend of health consciousness among people, has augured well for the North America fats and oils market growth. The increasing adoption of unsaturated oils and fats such as canola and rapeseed by food processing industries is boosting the regional market.

Vegetable oils are considered rich source of nutrients and therefore they are more preferred by the manufacturing companies and consumers. The food industry uses vegetable oils such as canola oil, soybean oil, corn oil, and others for making various processed food products. The higher adoption of vegetable oils for maintaining health of the digestive system, cardiac system, and others is helping to increase the demand for vegetable oils and fats. This ultimately is propelling the fats and oils industry in North America and is anticipated to continue doing so in the years to come.

Increasing Consumption of Healthy Oils to Help the U.S. Emerge Dominant

Currently, the U.S. is identified as the largest market for oils and fats in North America, holding approximately 80% of the overall North America fats and oils market share. This is likely to expand more in the coming years owing to the rise in consumption of healthy oils and fats such as olive oil and sunflower oil in the U.S. The wide consumption of vegetable oils, especially soybean oil in the U.S. is further boosting the oils and fats market in the country.

On the other hand, Canada is expected to show significant growth during the forecast period because of the increasing adoption of saturated fats and oils such as canola oil by the food service and food processing industries.

Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/north-america-fats-oils-market-100873

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