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The U.S. accounted for approximately 80% volumetric share in the North America vegetable oils market in the year 2018. The country will remain in its dominant position in the upcoming years due to the rising demand for healthy vegetable oils. Fortune Business Insights, in a published report, titled, “North America Vegetable Oils: Market Analysis, Insights and Forecast, 2019-2026,” has predicted that the consumption of vegetable oil in North America was 22.89 Million Tonnes in 2018 and is projected to reach 32.89 Million Tonnes by the end of 2026, exhibiting a CAGR of 4.7%.
Corn and Canola Oil Segment to Exhibit Notable Growth Owing to Numerous Health Benefitting Properties
In terms of type, the North America vegetable oils market is segmented into canola oil, coconut oil, cottonseed oil, palm oil, soybean oil, sesame oil, corn oil, olive oil, safflower oil, linseed oil, palm kernel oil, peanut oil, sunflower oil, and castor oil. Amongst these, the corn and canola oils segments are anticipated to hold major portion of the North America vegetable oil market share during the forecast period. This will occur due to the increasing consumption of domestically produced and abundancy in the region as it possesses health benefitting properties. The presence of omega-6 fatty acids, omega-3, vitamin E, and low cholesterol content is predicted to aid in market growth.
Ever Grossing Demand for Low-Calorie and Low-Fat Vegetable Oils to Favor Market Growth
Prominent market players that are operating in the North America vegetable oils market are offering a broad range of products for the consumers. The growth of foodservice and food industries is also contributing to the North America vegetable oils market revenue. Additionally, markets in numerous areas of this region are attracting more attention due to the usage of healthy ingredients and introduction of new innovative flavors. This is aiding in increasing the consumption of vegetable oils. A rising demand for healthy, organic, and natural products have been contributing to the North America vegetable oils market growth. An ever grossing demand for low-cholesterol, low-calorie, and low-fat products from the populace is expected to favor growth in North America.
Increasing Import Activities of Soybean and Canola Oils to Propel Market in Mexico
In terms of geography, the North America vegetable oils market is segmented into the U.S., Mexico, and Canada. Amongst these, the U.S. is largest market for vegetable oils and the country is expected to remain in the leading position throughout the forecast period. This is due to a rise in the adoption of vegetable oils infused with natural ingredients by the residential and commercial end-users. Soybean oil and canola oil are the most popular vegetable oils that are produced persistently in the U.S. This is in turn, help in boosting the vegetable oils market growth in this country.
In Mexico, the vegetables oil market is projected to grow moderately during the forthcoming years. This will occur because of the growing economy and rise in the population. A growth in the importation of several vegetable oils, namely, canola and soybean from the neighboring countries, such as Canada and the U.S., is likely to aid the growth of the vegetable oils market in the country. Moreover, growth of the processing and domestic oil crushing industry in Mexico will contribute to the growth during the foreseeable years. Local enterprises in the country are rapidly adopting innovative packaging strategies as well as are focusing on new product launches, adoption of clean-labeling, and expansion of product portfolio. All these initiatives will eventually increase the North America vegetable oils market sales which in turn, is expected to drive the market growth.
Fortune Business Insights has profiled some of the leading companies that have made significant growth contributions to the North America vegetable oils market. Some of the leading companies that are operating in the market are Archer Daniels Midland Company, Bunge North America Inc., Cargill Incorporated, ConAgra Foods Inc., Ag Processing Inc., Riceland Foods, Incobrasa Industries, ACH Food Companies Inc., Viterra Inc., Associated British Foods Plc (ABF), and other key market players.
Browse Complete Report @ https://www.fortunebusinessinsights.com/industry-reports/north-america-vegetable-oils-market-101012
· Soybean Oil
· Canola Oil
· Corn Oil
· Palm Oil
· Coconut Oil
· Palm Kernel Oil
· Olive Oil
· Cottonseed Oil
· Sunflower Oil
· Peanut Oil
· Safflower Oil
· Sesame Oil
· Linseed Oil
· Castor Oil
· Non-Food Use
· North America (U.S., Canada, and Mexico)