U.S. Vegetable Oil Market Share 2023 Growing Rapidly with Recent Trends and Outlook By 2031
The report offers an extensive analysis of changing market trends, top winning strategies, key segments, Porter’s Five Forces, and business performance of key market players. 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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Nevertheless, changes in U.S. biodiesel policy or global biodiesel policy restrain the market growth. However, increase in use of vegetable oils such as olive oil and canola oil, owing to their health benefits is anticipated to usher a plethora of opportunities for the players in near future.
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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