The North America edible oil market holds a significant position in the food and beverage sector worldwide. Its widespread consumption in restaurants, cafeterias, hotels, and households drives steady demand. Manufacturers are actively focusing on research and development to produce healthier oil options for consumers. The market is characterized by the popularity of healthier choices such as olive oil, avocado oil, and other plant-based oils. With the growing emphasis on health and wellness, the edible oil market in North America is expected to experience continued growth and innovation.
According to Data Bridge Market Research, the North America Edible Oil Market was valued at USD 8,104.55 million in 2021 and is expected to reach USD 13615.83 million by 2029, registering a CAGR of 6.70% during the forecast period of 2022-2029.
“Increase in the demand for functional foods upsurge the market growth”
The increase in the demand for functional foods serves as a driver for the North America edible oil market. Functional foods are products that offer health benefits beyond basic nutrition, and edible oils play a crucial role in their formulation. As consumers become more health-conscious and seek natural and functional ingredients in their diet, the demand for edible oils with specific health benefits, such as omega-3 fatty acids and vitamin E, rises. This growing preference for healthier food choices propels the demand for various edible oils, supporting the growth of the North America Edible Oil Market.
What restraints the growth of North America edible oil market?
“High cost associated with edible oil products”
The high cost associated with edible oil products serves as a significant restraint for the North America edible oil market. Consumers may be deterred from purchasing these oils due to their premium pricing, leading to reduced overall demand. Additionally, the high production costs incurred by manufacturers can limit their profit margins and competitive pricing strategies. This price barrier can also restrict the market's expansion and hinder the penetration of premium or specialty edible oils in the region, impacting the growth potential for certain segments of the market.
Segmentation: North America Edible Oil Market
The edible oil market is segmented on the basis of type, package type, distribution channel, and end user.
- On the basis of type, the edible oil market is segmented into palm oil, soybean oil, rapeseed oil, sunflower oil, peanut oil, specialty blended oil, olive oil, corn oil, flaxseed oil, avocado oil, walnut oil, pumpkin seed oil, grapeseed oil, others.
- On the basis of package type, the edible oil market is segmented into tinplate containers, HDPE (high density polyethylene) containers, PVC (poly vinyl chloride) bottles, pet (polyethylene terephthalate) bottles, glass bottles, semi – rigid containers, flexible plastic pouches, others.
- On the basis of distribution channel, the edible oil market is segmented into direct, indirect.
- On the basis of end user, the edible oil market is segmented into domestics, industrial, food service, others.
Regional Insights: U.S. dominates the North America Edible Oil Market
In the North American edible oil market, the U.S. is experiencing significant growth primarily because of its high consumption and production of soybean oil in the indirect segment. Additionally, the presence of robust e-commerce channels is providing opportunities for market expansion in the country. Meanwhile, Canada holds the second-highest market share, driven by the rising global trend towards organic products. Consumer demand for organic edible oils is a key factor propelling the growth of the edible oil market in Canada.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/north-america-edible-oils-market
Recent Developments in North America Edible Oil Market
- In November 2019, ACH Food Companies, Inc. made a strategic acquisition by purchasing Anthony's Goods, a provider of premium organic cooking oils and baked products. This move allowed ACH Food Companies to diversify its product portfolio, incorporating high-quality organic offerings. As a result, the acquisition contributed to revenue growth for the company.
The Prominent Key Players Operating in the North America Edible Oil Market Include:
- Bunge Limited (U.S.)
- ADM (U.S.)
- Cargill, Incorporated (U.S.)
- ACH Food Companies, Inc. (U.S.)
- Adani Group (India)
- SALAD OILS INTERNATIONAL CORPORATION (U.S.)
- American Vegetable Oils, Inc. (U.S.)
- BORGES INTERNATIONAL GROUP, S.L. (Spain)
- Hebany Group (UAE)
- NGO CHEW HONG EDIBLE OIL PTE LTD (Singapore)
- TITAN OILS Inc., (Canada
- Ragasa - Derechos Reservados (Mexico)
- SOVENA (Thailand)
- Sunora Foods (Canada)
Above are the key players covered in the report, to know about more and exhaustive list of North America edible oil market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: North America Edible Oil Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
