United States edible oils market is projected to witness a CAGR of 4.56% during the forecast period 2024-2031, growing from USD 31.67 billion in 2023 to USD 45.25 billion in 2031. The market has experienced significant growth in recent years due to a rise in culinary applications and is expected to maintain a strong pace of expansion in the coming years as it is a necessary product in cooking.
Factors such as increasing demand for organic and non-GMO oils are presently increasingly popular among the consumers due to their inclination towards a healthy lifestyle. Consumers seek edible oils which align with their preference of food safety and superior quality which does not deteriorate their health. This is driving the growth for organically and sustainably produced edible oils.
The trend towards culinary experimentation and the introduction of various foreign meals in the country is enhancing the market with rising demand of consumers for certain oils offering distinct flavors such as pumpkin seed oil and canola oil.
The price of edible oils is increasing sharply due to the increase in consumer demand. According to a study by the U.S. Department of Agriculture, in comparison to 2022, the average annual price of fats and oils rose by 9%, making the oils relatively expensive in the country.
Branding of the manufacturers has played a crucial role in attracting more consumers of edible oils as they have been tested by various consumers and eventually became increasingly popular.
Sustainable Packaging to Drive Market Growth
Sustainable packaging for edible oils is increasingly becoming the preferred choice in the United States for various reasons. As more concerns increase about climate change and pollution, higher conscience is building in customers regarding purchases that may influence the environment now and in the future. Packaging sustainably, usually with materials that are recyclable, biodegradable, or compostable, reduces generation of waste and in many ways reduces the carbon footprints associated with production and disposal.
Moreover, government restrictions and policies are forcing more environment-friendly practices. There has been an increase in the legislation of limits to plastic waste and promotion of recycling in the United States. Companies with sustainable packaging would have a better strategic advantage concerning such laws and the resultant penalties or bans.
In May 2023, DEOLEO, S.A. launched the latest sustainably sourced versions of Carapelli and Bertolli extra virgin olive oil in the United States. The olive oil is packed in 100% recycled plastic bottles. The company is reducing the consumption of resources in its packaging by optimizing the weight of its plastic packaging up to 10%, which will lead to a total reduction of around 110 tons of plastic every year globally.
Locally Produced Edible Oils to Appeal to the Health-Conscious Consumers
Americans largely prefer locally produced edible oils as they are superior in quality and freshness. With a shorter supply chain from local farms to consumers, there is more retention of nutritional value and flavor which is not available in the imported edible oils.
The locally produced edible oils have a better perception of quality due to more stringent local regulations and standards. People believe that the local producers would be bound by more careful and safe quality control practices that prevent contamination and ensure a much purer produce. This is further supported by the ability of the consumers to visit farms and places of production, giving transparency to consumers and a close connection between consumer and producer.
Moreover, most of the local edible oils are produced organically and have been recognized through various institutions, increasing the trust of consumers to drive the market growth.
In March 2024, Fresh Press Farms launched its latest locally produced High Oleic Sunflower Oil at Natural Products Expo West. The oil is crafted from the farm grown high oleic sunflower seeds and cold-pressed to achieve a healthier version of the oil. This oil is Keto Certified, Non-GMO, Whole30 approved, and American Health Association approved.
Olive Oil to Dominate the Market
Olive oil is preferred in the United States due to its health benefits and wider applicability in various cuisines. As the interest of consumers increases in the Mediterranean diet, the use of olive oil as the primary source of fat is encouraged. Moreover, as it is linked to reduced cases of risks of heart diseases and stroke, the Mediterranean diet increased the popularity of olive oil among health-conscious consumers in the region.
The health benefits from olive oil consumption are very well documented and include high content of monounsaturated fats, antioxidants, and anti-inflammatory properties. In line with this, olive oil has become a staple in many American kitchens as consumers prefer to improve their diet with better choices of fat.
Other than health and gastronomic reasons, increased consumption of olive oil in line with greater availability of better-quality oil, through both domestic produce and imports leads to an increase in market demand. Availability of specialty stores and online retailers offers convenience to the consumers, enhancing their experience.
In May 2023, Pompeian, Inc. announced the debut of its latest Made Easy Olive Oil collection which features four new cooking oils, namely, Easy Fry Olive Oil, Made Easy Saute Olive Oil, Made Easy Bake Olive Oil, and Made Easy Drizzle Extra Virgin Olive Oil. These superior quality olive oils are derived from sustainably sourced olives.
Future Market Scenario (2024 – 2031F)
The edible oil market in the United States is anticipated to witness growth in the forecast period due to following reasons:
1. The consumers are preferring healthier edible oils such as avocado oil and olive oil which are unsaturated fats and contain important nutrients such as omega-3 and omega-6 fatty acids.
2. The consumers are increasingly shifting towards specialty oils such as hemp seed oil, walnut oil, flaxseed oil, and fortified edible oil which are infused with vitamins, to further augment the growth of edible oils in the United States.
Report Scope
“United States Edible Oils Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of the United States edible oils market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
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