Industry Landscape

The US Vegetable Oil Market Size Was Valued at USD 109.01 Billion In 2023 And Is Projected to Reach USD 155.44 Billion By 2030, Growing At A CAGR Of 5.2% From 2023 To 2030.

US Vegetable Oil is a type of edible oil derived from various plant sources, such as seeds, fruits, nuts, or vegetables. It plays a crucial role in cooking, baking, and food preparation worldwide. The extraction process typically involves crushing or pressing the plant's seeds or fruits to obtain the oil, which is then refined to remove impurities. US Vegetable Oils are rich in essential fatty acids, like omega-3 and omega-6, and they provide a significant source of energy and nutrients in the human diet.

Common examples of US Vegetable Oils include soybean oil, sunflower oil, canola oil, corn oil, and olive oil, each with its distinctive flavor and culinary properties. Besides culinary uses, US Vegetable Oils find application in various industries, such as cosmetics, pharmaceuticals, and biofuels, making them versatile and indispensable commodities in modern society.

Major Industry Participants in the Vegetable Oil Market

• • Archer Daniels Midland Company (ADM) (US)
  • Bunge North America (US)
  • Cargill, Incorporated (US)
  • Wilmar International (USA) LLC (US)
  • Louis Dreyfus Company LLC (US)
  • Ag Processing Inc (AGP) (US)
  • Richardson Oilseed Limited (USA) (US)
  • Ventura Foods LLC (US)
  • Darling Ingredients Inc. (US)
  • The J.M. Smucker Company (US), And Other Major Players.

 Market Dynamics and Contributing Factors

The United States US Vegetable Oil Market is driven by the growing demand for plant-based foods, fueled by the rising popularity of plant-based diets and awareness of their health and environmental benefits. US Vegetable Oils are essential in formulating various plant-based products, meeting the demand for healthier and sustainable dietary choices. The expanding presence of plant-based food companies and the growing availability of plant-based menu options in restaurants and food service establishments have further driven the need for US Vegetable Oils. Their versatility, including soybean oil, canola oil, and sunflower oil, makes them ideal for a wide range of cooking applications in the plant-based food industry.

The emergence of specialty oils presents a promising opportunity for the United States US Vegetable Oil Market. Specialty oils are unique and premium oils that offer distinct flavors, nutritional benefits, and culinary properties, catering to the evolving preferences of consumers. These oils include avocado oil, grapeseed oil, walnut oil, sesame oil, and others, each with its distinctive taste and health attributes. As health-conscious consumers seek healthier alternatives and gourmet cooking experiences, the demand for specialty oils has witnessed significant growth. Specialty oils are known for their high nutritional value, rich in monounsaturated and polyunsaturated fats, omega-3 fatty acids, and antioxidants, making them appealing to health-conscious individuals.

Key Insights in the Vegetable Oil Market Report

• • By Type, the Soybean Oil segment is Anticipated to Dominate the Market Over the Forecast Period. Soybean oil dominates the United States US Vegetable Oil Market due to several key factors. Firstly, soybeans are one of the major oilseed crops grown in the country, and the United States is one of the world's leading producers of soybeans. This abundant domestic production ensures a steady supply of soybeans, making soybean oil readily available and cost-effective.
  • By Application, the Food Industry segment is poised to lead, driven by its widespread use in culinary applications such as frying, baking, and salad dressings. With growing consumer demand for healthier alternatives and versatile cooking oils, vegetable oils remain integral to the food industry's operations and product formulations.
  • By Country, The United States US Vegetable Oil Market is one of the largest and most significant in the world. The country's vast agricultural resources, advanced technology, and favorable climate contribute to its prominence in the production of US Vegetable Oils. The United States produces a wide variety of US Vegetable Oils, including soybean oil, canola oil, corn oil, sunflower oil, and cottonseed oil, among others.

Significant Industry Development

In April 2023, Bunge, a global agribusiness leader, entered a definitive asset purchase agreement with Fuji Oil to acquire a newly constructed, state-of-the-art refinery in Louisiana. The facility, located at IMTT's Avondale Terminal, has multi-oil refining capabilities and will allow Bunge to broaden its customer base. The transaction is subject to customary closing conditions.

By Type

• • Palm Oil
  • Soybean Oil
  • Rapeseed Oil
  • Sunflower Oil
  • Olive Oil
  • Others

By Nature

• • Organic
  • Conventional

By Packaging Type

• • Cans
  • Bottles
  • Pouches
  • Others

By Application

• • Food Industry
  • Pharmaceutical
  • Cosmetics & Personal
  • Animal Feed
  • Industrial

By Distribution Channels

• • Hypermarkets/Supermarkets
  • Convenience Stores
  • Online Retail
  • Wholesale Distributors
  • Specialty Stores

For this report, AkVis Intelligence has segmented the Vegetable Oil Market based on country.

Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)

North America

• • The U.S.
  • Canada
  • Mexico

Eastern Europe

• • Bulgaria
  • The Czech Republic
  • Hungary
  • Poland
  • Romania
  • Rest of Eastern Europe

Western Europe

• • Germany
  • UK
  • France
  • Netherlands
  • Italy
  • Russia
  • Spain
  • Rest of Western Europe

Asia Pacific

• • China
  • India
  • Japan
  • South Korea
  • Malaysia
  • Thailand
  • Vietnam
  • The Philippines
  • Australia
  • New-Zealand
  • Rest of APAC

Middle East & Africa

• • Turkey
  • Bahrain
  • Kuwait
  • Saudi Arabia
  • Qatar
  • UAE
  • Israel
  • South Africa

South America

• • Brazil
  • Argentina
  • Rest of SA