Report Update Nov 1, 2024

Northern America - Vegetable Fats and Oils - Market Analysis, Forecast, Size, Trends and Insights

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Northern America: Vegetable Oils Market 2024

Vegetable Oils Market Size in Northern America

The North American vegetable oils market expanded modestly to $X in 2022, picking up by X% against the previous year. In general, consumption, however, saw a mild curtailment. The pace of growth appeared the most rapid in 2019 with an increase of X%. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Vegetable Oils Production in Northern America

In value terms, vegetable oils production reached $X in 2022 estimated in export price. Overall, production continues to indicate a slight decrease. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Vegetable Oils Exports

Exports in Northern America

In 2022, shipments abroad of vegetable fats and oils increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2021 with an increase of X%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, vegetable oils exports soared to $X in 2022. Over the period under review, exports, however, showed a noticeable decline. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States prevails in exports structure, accounting for X tons, which was approx. X% of total exports in 2022. Canada (X tons) followed a long way behind the leaders.

The United States was also the fastest-growing in terms of the vegetable fats and oils exports, with a CAGR of X% from 2012 to 2022. Canada (X%) illustrated a downward trend over the same period. The United States (X p.p.) significantly strengthened its position in terms of the total exports, while Canada saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the United States ($X) remains the largest vegetable oils supplier in Northern America, comprising X% of total exports. The second position in the ranking was taken by Canada ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at X%.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, with an increase of X% against the previous year. Export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable oils export price increased by X% against 2014 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Vegetable Oils Imports

Imports in Northern America

In 2022, the amount of vegetable fats and oils imported in Northern America soared to X tons, jumping by X% on 2021 figures. Overall, imports, however, recorded a noticeable setback. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, vegetable oils imports skyrocketed to $X in 2022. Total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the two major importers of vegetable fats and oils, namely the United States and Canada, represented more than two-thirds of total import.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%).

In value terms, the United States ($X) constitutes the largest market for imported vegetable fats and oils in Northern America, comprising X% of total imports. The second position in the ranking was taken by Canada ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to X%.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, jumping by X% against the previous year. In general, the import price continues to indicate buoyant growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for vegetable fats and oils in Northern America?

The country with the largest volume of vegetable oils consumption was the United States, accounting for 86% of total volume. Moreover, vegetable oils consumption in the United States exceeded the figures recorded by the second-largest consumer, Canada, sixfold.

What are the largest producers of vegetable fats and oils in Northern America?

The United States constituted the country with the largest volume of vegetable oils production, comprising approx. 89% of total volume. Moreover, vegetable oils production in the United States exceeded the figures recorded by the second-largest producer, Canada, eightfold.

What are the leading suppliers of vegetable fats and oils in Northern America?

In value terms, the United States remains the largest vegetable oils supplier in Northern America, comprising 98% of total exports. The second position in the ranking was occupied by Canada, with a 2.2% share of total exports.

What are the leading importers of vegetable fats and oils in Northern America?

In value terms, the United States and Canada appeared to be the countries with the highest levels of imports in 2021.

What is the average export price for vegetable fats and oils in Northern America?

The export price in Northern America stood at $2,840 per ton in 2021, surging by 5.8% against the previous year.

What is the average import price for vegetable fats and oils in Northern America?

The import price in Northern America stood at $2,812 per ton in 2021, picking up by 9.8% against the previous year.

This report provides an in-depth analysis of the vegetable oils market in Northern America. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10416050 - Vegetable fats and oils and their fractions partly or wholly hydrogenated, inter-esterified, re-esterified or elaidinised, but not further prepared (including refined)

Country coverage:

Bermuda
Canada
Greenland
Saint Pierre and Miquelon
United States

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in Northern America, split by region and country
Trade (exports and imports) in Northern America
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Bermuda
- Canada
- Greenland
- Saint Pierre and Miquelon
- United States
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023