The U.S. vegetable oil market was valued at $98.5 billion in 2019, and is projected to reach $130 billion by 2027, registering a CAGR of 4.9% from 2021 to 2027. The market is expected to exhibit an incremental revenue opportunity of $36.35 billion from 2020 to 2027. The growth of the U.S. vegetable oil market is propelled by shift in consumer preferences toward trans-fats-free food products, owing to rise in health consciousness.
According to U.S. vegetable oil market analysis, the market is segmented on the basis of product type and distribution channel. Depending on product type, the market is classified into soyabean oil, palm oil, sunflower oil, olive oil, canola oil, corn oil, and others. On the basis of distribution channel, it is bifurcated into business-to-business (B2B) and business-to-consumers (B2C). The B2B segment is further categorized into food service and food processing. The B2C segment is subsegmented into hypermarket/supermarket, specialty/convenience stores, online channels, and others.
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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.
Covid-19 Scenario-
- A slight negative impact has been noticed on the oilseeds and U.S. vegetable oil market during the lockdown, due to low export demand.
- The lockdown and social distancing norms led to shutdown of restaurants across the globe, which in turn decreased the demand from the food service industry.
- Nevertheless, the government bodies in various regions are easing off the regulations. This may aid the industry to coup up with the situation.
Send Me Enquire Here@ https://www.alliedmarketresearch.com/purchase-enquiry/8326The 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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