U.S. Fats And Oils Market. Analysis And Forecast to 2030
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View PricingFat and Oil Price in the United States - 2023
Contents:
- Fat and Oil Price in the United States (FOB) - 2023
- Fat and Oil Price in the United States (CIF) - 2023
- Fat and Oil Exports in the United States
- Fat and Oil Imports in the United States
Fat and Oil Price in the United States (FOB) - 2023
In August 2023, the average fat and oil export price amounted to $2,329 per ton, therefore, remained relatively stable against the previous month. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2022 when the average export price increased by 13% against the previous month. As a result, the export price attained the peak level of $2,737 per ton. From January 2023 to August 2023, the the average export prices failed to regain momentum.
Average prices varied somewhat for the major foreign markets. In August 2023, the highest price was recorded for prices to Djibouti ($2,198 per ton) and Bahamas ($2,082 per ton), while the average price for exports to Canada ($1,684 per ton) and Panama ($1,948 per ton) were amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (-0.4%), while the prices for the other major destinations experienced a decline.
Fat and Oil Price in the United States (CIF) - 2023
The average fat and oil import price stood at $2,517 per ton in August 2023, increasing by 6.4% against the previous month. Overall, the import price, however, saw a slight decline. The import price peaked at $2,985 per ton in August 2022; however, from September 2022 to August 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Ireland ($4,955 per ton), while the price for Spain ($1,063 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Ireland (+7.5%), while the prices for the other major suppliers experienced a decline.
Fat and Oil Exports in the United States
Fat and oil exports from the United States expanded significantly to 379K tons in 2022, growing by 14% compared with the previous year. The total export volume increased at an average annual rate of +7.3% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, fat and oil exports soared to $897M in 2022. The total export value increased at an average annual rate of +12.6% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Fat and Oil in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 162 | 197 | 277 | 378 | 32.6% |
| Mexico | 142 | 127 | 150 | 104 | -9.9% |
| South Korea | 12.3 | 24.1 | 15.2 | 24.6 | 26.0% |
| Colombia | 8.1 | 10.0 | 6.2 | 10.2 | 8.0% |
| Haiti | 0.6 | 4.1 | 3.2 | 9.5 | 151.1% |
| Saudi Arabia | 10.7 | 8.3 | 8.0 | 6.6 | -14.9% |
| Trinidad and Tobago | 10.8 | 9.5 | 8.3 | 5.1 | -22.1% |
| Others | 282 | 271 | 277 | 359 | 8.4% |
| Total | 628 | 651 | 745 | 897 | 12.6% |
Top Export Markets for Fat and Oil from the United States in 2022:
- Canada (221.6K tons)
- Mexico (48.1K tons)
- South Korea (8.4K tons)
- Haiti (6.1K tons)
- Colombia (6.0K tons)
- Saudi Arabia (3.3K tons)
- Trinidad and Tobago (2.2K tons)
Fat and Oil Imports in the United States
After three years of growth, overseas purchases of fats and oils decreased by -3.7% to 290K tons in 2022. The total import volume increased at an average annual rate of +4.1% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 when imports increased by 9.2%. As a result, imports reached the peak of 301K tons, and then fell in the following year.
In value terms, fat and oil imports surged to $763M in 2022. Over the period under review, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +21.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +78.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 38% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the near future.
| Import of Fat and Oil in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 209 | 175 | 328 | 343 | 18.0% |
| Indonesia | 38.3 | 25.7 | 29.9 | 77.4 | 26.4% |
| Mexico | 48.0 | 46.5 | 44.5 | 75.0 | 16.0% |
| Malaysia | 14.1 | 15.9 | 11.5 | 26.8 | 23.9% |
| India | 15.7 | 16.8 | 14.1 | 23.2 | 13.9% |
| Ireland | 5.5 | 8.5 | 15.2 | 20.9 | 56.0% |
| Spain | 11.4 | 14.4 | 13.7 | 10.6 | -2.4% |
| Colombia | 3.6 | 5.3 | 6.5 | 9.8 | 39.6% |
| Guatemala | N/A | 0.3 | 2.9 | 7.3 | 393.3% |
| Ukraine | N/A | N/A | 3.0 | 5.0 | 66.7% |
| Others | 82.2 | 126 | 130 | 164 | 25.9% |
| Total | 428 | 435 | 599 | 763 | 21.3% |
Top Suppliers of Fat and Oil to the United States in 2022:
- Canada (173.3K tons)
- Mexico (29.2K tons)
- Indonesia (14.8K tons)
- Ireland (9.5K tons)
- India (8.2K tons)
- Ukraine (7.0K tons)
- Malaysia (6.5K tons)
- Guatemala (5.3K tons)
- Colombia (5.3K tons)
- Spain (3.5K tons)
This report provides an in-depth analysis of the fat and oil market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- NAICS 311225 - Fats and oils refining and blending
Companies mentioned:
- Ventura Foods
- Ach Food Companies
- Loders Croklaan Usa
- Aarhuskarlshamn USA, Cfc
- Barlean's Organic Oils
- Mahoney Environmental
- California Olive Ranch
- Oasis Trading Co.
- Stratas Foods
- Kagome Foods
- CFS West Holdings
- Wendy Weihe Storlie
- Agri-Fine
- ABF North America Holdings
- American Commodities
- Fuji Vegetable Oil
- Wilsey Foods
- South Chicago Packing
- Owensboro Grain Edible Oils
- Bunge Limited Finance Corp.
- Victory Tropical Oil Usa
- ABF North America
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
-
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
-
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
-
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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