North America vegetable oils market is likely to gain momentumfrom a rise in the demand for healthy edible oils that are infused with naturalingredients. According to a report published by Fortune Business Insights,titled “North America Vegetable Oils Market Analysis,Insights and Forecast, 2019-2026,” the consumption of vegetable oilin North America was 22.89 Million Tonnes in 2018. But it is projected to reach32.89 Million Tonnes by the end of 2026, exhibiting a CAGR of 4.7%.
Growth of the Processed Food and Foodservice Industries to BoostMarket Growth
The report suggests that North America has been witnessing agrowth of processed food industry in the recent years. Additionally, there hasbeen a growth of the foodservice industry in the region. These two factors willhelp in boosting the North America vegetable oils market growth. Moreover,there has been a rise in the awareness campaigns regarding the harmful effectsof consuming unrefined and saturated fats that are procured from animals. Thiswill further propel the North America vegetable oils market sales during theforecast period.
Companies Adopt Resilient Marketing Strategies to Propel Market in NorthAmerica
The prominent market players operating in the North Americavegetable oils market are persistently implementing flexible marketingstrategies in order to promote healthy vegetable oils sales in the region.Canada and Mexico have also been exhibiting growth in the oil processingindustry. These factors are likely to increase North America vegetable oilsmarket revenue. Furthermore, the key market players are currently concentratingon innovative packaging strategies, new product launches, expansion of productportfolio, and clean-labeling procedures. Their strategic efforts have alreadystarted to put positive impact on the vegetable oils market in North America.The companies are also investing huge sums in the production of edible oilsthat are healthier than the commodity oils. They are offering such types ofedible oils at very reasonable rates to attract the consumer that will furtherpropel the market.
Calyxt, Inc., Richardson International Limited, and Other KeyPlayers Strengthen their Positions through Innovative Product Launch andStrategic Acquisitions
Richardson International Limited, an agricultural and foodindustry company headquartered in Canada, announced that it has acquiredWesson, a leading retail brand of vegetable oils and canola, based in the U.S.in February 2019. The acquisition is considered to be very significant forRichardson as it will aid in bolstering and growing the company’s food andingredients business. This will not only boost the market in North America, butalso enhance the company’s capability to fulfill the unmet needs of the massesacross the globe.
Calyxt, Inc., a consumer-centric food- and agriculture-focusedcompany, headquartered Minnesota, announced the launch of its ‘Calyno HighOleic Soybean Oil’. It is the company’s first product that is being sold in theU.S. market. Primarily, Calyno oil was sold commercially to the foodserviceindustry for salad dressing, frying, and sauce application. The oil consists ofapproximately 20% less saturated fatty acids, up to 80% oleic acid, and zerograms of trans fat per serving, unlike the commodity soybean oil. One of themost important benefits of this oil is that it possesses three times theextended shelf life as well as fry life as compared to commodity oils. Thismakes the Calyno oil more sustainable.
Fortune Business Insights has profiled some of the leading companies that havemade significant growth contributions to the North America vegetable oilsmarket. Some of the leading companies that are operating in the market areArcher 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), andother key market players.
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