Rising Food Industry Demand for Cheaper Fats to Propel The U.S. Oils and Fats Consumption
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According to market research conducted by IndexBox, from 2008 to 2015, the U.S. fat and oil market showed mixed dynamics. A significant drop in 2009 and 2010 was followed by growth over the next three years, until the market decreased again in 2014. However, the fat and oil market increased by X% to X million USD in 2015.
U.S. growth in fat and oil consumption is expected to accelerate to +X% (currently -X %) in the medium term, due to the transition of the food industry to more inexpensive types of oils and fats. Population growth and a demand for a greater number of alternative fats are projected to propel the consumption of oils and fats forward.
The bulk of the U.S. fat and oil market is formed by domestic production. The share of imported products on the market did not exceed X% in recent years.
In 2015, the share of exports in production was reduced to X%, which suggests that the bulk of U.S. fat and oil production is consumed domestically.
Due to low trade intensity, imports and exports should not be regarded as strong factors influencing U.S. market dynamics in the medium term.
The value of total U.S. fat and oil imports totaled X million USD in 2015, standing approx. at the previous year level. Canada (X%, based on tonnes) was the main supplier of fats and oils into the U.S., accounting for X% of total U.S. imports in 2015. It was followed by Mexico (X%), Argentina (X%), and India (X%).
The U.S. exported X thousand tonnes of fats and oils in 2015. In value terms, this amounted to X million USD. In 2015, Mexico (X%, based on tonnes) and Canada (X%) were the main destinations of U.S. fat and oil exports.
Do you want to know more about the U.S. fat and oil market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- fat and oil market share
- fat and oil prices
- fat and oil industry
- fat and oil sales
- fat and oil market forecast
- fat and oil price forecast
- key fat and oil producers
Source: IndexBox AI Platform
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