4.7% growth for North America Vegetable Oils Market Size to reach 32.89 Million USD by 2026
North America Vegetable Oils: Market Analysis, Insights and Forecast, 2019-2026, the consumption of vegetable oil in North America was 22.89 Million Tonnes in 2018. But it is projected to reach 32.89 Million Tonnes by the end of 2026, exhibiting a CAGR of 4.7%.
Key Industry Developments
- In February 2019, Richardson International Limited announced the acquisition of Wesson, a retail brand of canola and vegetable oils. The company purchased Wesson from Conagra Brands Inc., which is a leading international edible oil company.
- In February 2019, Calyxt, Inc. launched ‘Calyno high oleic soybean oil’ in the US market. The product claims to contain 80% oleic acid and zero grams of trans fat (per servings) and can be used for frying purpose, salad dressings, and others.
- Soybean Oil
- Canola Oil
- Corn Oil
- Palm Oil
- Coconut Oil
- Palm Kernel Oil
- Olive Oil
- Cottonseed Oil
- Sunflower Oil
- Peanut Oil
- Safflower Oil
- Sesame Oil
- Linseed Oil
- Castor Oil
- Non-Food Use
- North America (U.S., Canada, and Mexico)
Calyxt, Inc., Richardson International Limited, and Other Key Players Strengthen their Positions through Innovative Product Launch and Strategic Acquisitions
Richardson International Limited, an agricultural and food industry company headquartered in Canada, announced that it has acquired Wesson, 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 for Richardson as it will aid in bolstering and growing the company’s food and ingredients business. This will not only boost the market in North America, but also enhance the company’s capability to fulfill the unmet needs of the masses across the globe.
Fortune Business Insights has profiled some of the leading companies that have made significant growth contributions to the North America vegetable oils market. Some of the leading companies that are operating in the market are Archer 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), and other key market players.
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