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The robust growth of the food and beverages industry in the region is increasing the use of vegetable oils, primarily palm oil, which is propelling the market growth. In addition, the inflating disposable income, along with the expansion of retail outlets, is increasing the demand for convenience and packaged food products. This is significantly surging the use of vegetable oils, therefore invigorating the market growth in Latin America. In addition, the growing usage of vegetable oils in the cosmetics and personal care industry is contributing significantly to the growth of the vegetable oils industry. The rapid shift towards sustainable palm oil production in countries such as Brazil is increasing its demand among environmentally conscious consumers, which is providing further impetus to the market growth.
Archer Daniels Midland Company (NYSE: ADM), one of the leading companies in the market, in August 2018, reached an agreement to purchase certain assets of Brazil-based Algar Agro, including the latter’s oilseed processing facilities in Uberlandia and Proto France. The agreement would aid the company in expanding its capabilities to meet growing global oil demands. It would also strengthen its position in Brazil in order to expand its presence in the Latin American region. The company, under the terms of the agreement, would become the owner of integrated crush and oil refining and bottling in the facilities. As the demand for bottled oil in the northeast and southeast regions of Brazil is growing, the company plans to provide high-quality cooking oil in the region. Such mergers and acquisitions are expected to fuel the industry growth.
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The major players in the Latin America market for vegetable oil are Archer Daniels Midland Company, Bunge Limited, Cargill Incorporated, Louis Dreyfus Company, and Aceitera General Deheza S.A., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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