U.S. Plant-based Oils Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
U.S. Plant-based Oils Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
Report Digest
U.S. Plant-based Oils Market – Overview
The U.S. plant-based oils market has been projected to expand significantly in the upcoming years. These rapid growth opportunities in the market are due to rapid growth in the food processing industry in the region. In addition to this, rising penetration of the alternate fuel sources, for instance, biodiesel has also been estimated to put a positive impact on the growth impetuses in the market in the following years.
The plant-based oils are commonly used in the preparation of food products, for instance, dairy, bakery, confectionery, and others. The constant growth in the industry of food processing that used the plant-based oils in the deep-frying process has also been projected to serve as a vital factor to drive demand avenues in the U.S. plant-based oils market.
The increasing prevalence of cardiovascular along with rising health awareness is likely to fuel the requirement for healthy oil, for example, olive oils. In addition to this, this oil is also used for the production of oleochemicals and biodiesel. Rising demand for sustainable and alternate fuels is also likely to drive sales opportunities in the market throughout the forecast period.
U.S. Plant-based Oils Market – Key Drivers
The products from the U.S. plant-based oils market are commonly produced from rapeseed, cottonseed, olive, coconut, palm, sunflower, soybean, and others. Various manufacturers have achieved backward integration and have been cultivating raw materials. These factors are further predicted to fuel the expansion avenues in the U.S. plant-based oils market in the near future.
Primarily two processes are used in order to extract plant-based oils, named solvent-based process and screen or hydraulic press-based process. Out of these two processes, the hydraulic process has been used conventionally for a longer period of time. Further, the manufacturers from the U.S. plant-based oils market are putting emphasis on the oil refining process in order to achieve the maximum possible yield and to reduce the cost of manufacturing. These are anticipated to stimulate the novel growth avenues in the U.S. plant-based oils market in the upcoming years.
There has been a constant fluctuation in the prices of raw materials has been serving as a vital challenge in the U.S. plant-based oils market. The changes in the climatic condition put an impact on the production output of raw materials, for instance, sunflower, soybean, and other. So, these factors are likely to determine the growth avenues in the U.S. plant-based oils market in the forthcoming years.
U.S. Plant-based Oils Market – Recent Developments and Key Players
The U.S. plant-based oils market has been characterized owing to the presence of numerous players at local as well as international levels. The market is fragmented in nature. In addition to this, the players concentrate on the growth strategies for the achievement of their set goals and objectives. Increasing penetration of these players in the global market along with rising consumer awareness of the brand is also serving as a vital factor to generate lucrative avenues in the market. Furthermore, mergers or tie-up, increased count of the R & D activities for the enhancement of the company’s existing portfolio, launching of new products, and product portfolio expansion are some other initiatives that are taken by the global players in developing as well as developed nations around the world.
Some of the key players in the U.S. plant-based oils market are:
- ADM
- Viterra Inc.
- Bunge Limited
- ACH Food Companies, Inc.
- Wilmar International Ltd
- Cargill, Incorporated
- Riceland Foods
- Westmill Foods
- CHS Inc.
- Ag Processing Inc a cooperative
- FUJI OIL ASIA PTE. LTD.
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