Report

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LATAM (Latin America) Vegetable Oil Market: By Type: Palm Oil, Soybean Oil, Canola Oil, Sunflower Oil, Coconut Oil; By Application: Food, Industrial, Biofuel; By Country: Brazil, Argentina, Colombia, Others; Historical Production and Consumption (2014-2018); Production and Consumption Forecast (2019-2024); SWOT Analysis; Value Chain AnalysisTrade Analysis; LATAM Vegetable Oil Market: Price Analysis; Manufacturing Process; Cost Analysis; Competitive Landscape

LATAM Vegetable Oil Market Key Insights:

  • Market Overview
  • Market Analysis
  • Market Outlook 2019-2024
  • Trade Data Analysis
  • Market Breakup by Region
  • Market Breakup by Application
  • Competitive Landscape
  • Capacity Addition & Plant Turnarounds
  • Mergers & Acquisitions

 

Market Outlook

The LATAM vegetable oil market is aided by the rising production of oilseed in countries like Argentina and Brazil. By 2027, Argentina is expected to account for about 11% of the global oilseed crush while Brazil’s share will stand at approximately 10%. The increased production of oilseeds in these two countries is also driving the growth of the global production, which recorded 585 million tonnes between 2018-2019 and is further expected to grow to attain 603 million tonnes between 2019-2020.

Globally, vegetable oil is a significant agricultural commodity having one of the highest trade shares whose trade shares account for 42% of the all agricultural commodities produced globally. Its global output is expected to increase annually by 1.7% in the forecast period of 2019-2024. It is derived by crushing soybeans and other oilseeds which account for nearly 55% of all production.  Oil palm is a major vegetable oil source with palm oil accounting for 35% of its output globally. Palm kernel, coconut, and cottonseed oil are other significant types available in the global market.

Soybean oil leads the market in Latin America with Brazil, Argentina, and Paraguay producing 117 million tons, 55 million tons, and 9.5 million tons of soybean, respectively. The soybean production is projected to witness a healthy growth in the forecast period of 2019-2024. Between 2017-2018, Brazil produced nearly 8,200 thousand metric tons of soybean oil.

The LATAM region is also a major exporter with the Americas dominating the exports of soybean, and other oilseeds, along with protein meals. Argentina, in particular, is a leading exporter in the region and is the third largest exporter worldwide. It is expected to account for nearly 9% of the global exports by 2024.

Properties and Application

Vegetables oils are extracted by applying pressure on natural plant sources like seeds, nuts and fruits. They are widely used for cooking and contain nutrients like vitamin E, omega-3 and omega-6 fatty acids, and polyunsaturated, monounsaturated, and saturated fats. They are also a constituent part of food products like margarine, ice cream and non-dairy creamers. They also find applications in home and personal care sector as a part of soaps, detergents, cosmetics, and other products. They are also increasingly finding use as an alternative to fossil fuels as feedstock for biofuel.

Their leading end-use sectors are:

  • Food
  • Industrial
  • Biofuel
  • Others
    Colombia, Argentina, and Brazil, among others, are the major regions considered in the report.

Market Analysis

Globally, the growth of the vegetable oil production is dependent on the crush of oilseed, and the production of perennial tropical oil plants. Their consumption is projected to be driven by the rising demand in developing countries for food applications due to the growing population. With a growing health awareness, consumers are increasingly demanding vegetable oil because of their health benefits. Palm oil is being used as an alternative to trans-fat, thus, driving the growth of the market.

The LATAM vegetable oil market is being driven by the rising demand of the product as a biodiesel feedstock. Globally, 17% of all vegetable oil produced is used in the production of biodiesel with Brazil using 40% of it as a biodiesel feedstock. Argentina utilizes 74% of its production of biodiesel. This percentage is projected to increase in the coming years. Its consumption by Argentina’s biodiesel industry is expected to attain 2.5 million tonnes by 2026, which would account for 75% of the total consumption in the country.

Soybean is a major feedstock for vegetable oil in the LATAM region. The production of soybean in Brazil is expected to reach 130 million tonnes in 2027. The Brazil soybean market is projected to grow annually by 1.3% in the forecast period. Argentina and Paraguay are other significant soybean producing countries in LATAM, which are expected to grow in the coming years.

Competitive Landscape

The report analyses the following key players in the LATAM vegetable oil market, looking into their market share, capacity, and latest developments like mergers and acquisitions, capacity expansions, and plant turnarounds:

  • Archer Daniels Midland Company
  • Bunge Limited 
  • Cargill Incorporated
  • Louis Dreyfus Company
  • Aceitera General Deheza S.A
  • Others

The EMR report gives an in-depth insight into the LATAM vegetable oil market, providing a SWOT analysis as well as an analysis of Porter’s five forces.

1    Preface
2    Research Methodology
3    Executive Summary

    3.1    Market Overview
    3.2    Key Demand Drivers
    3.3    Key Players
    3.4    Supply Market Changes
4    Global Vegetable Oil Market Overview
    4.1    Global Vegetable Oil Market Analysis

        4.1.1    Figure: Historical Market (2014-2018) & Forecast (2019-2024)
        4.1.2    Chart: Breakup by Type
            4.1.2.1    Palm Oil
            4.1.2.2    Soybean Oil
            4.1.2.3    Canola Oil
            4.1.2.4    Sunflower Oil
            4.1.2.5    Coconut Oil
            4.1.2.6    Others
        4.1.3    Chart: Breakup by Application
            4.1.3.1    Food
            4.1.3.2    Industrial
            4.1.3.3    Biofuel
            4.1.3.4    Others
        4.1.4    Chart: Breakup by Region
            4.1.4.1    North America
            4.1.4.2    Europe
            4.1.4.3    Asia Pacific
            4.1.4.4    LATAM
            4.1.4.5    Middle East and Africa
5    LATAM Vegetable Oil Market Overview
    5.1    LATAM Vegetable Oil Market Analysis

        5.1.1    Figure: Historical Consumption (2014-2018) & Forecast (2019-2024)
        5.1.2    Figure: Historical Production (2014-2018) & Forecast (2019-2024)
        5.1.3    Figure: Breakup by Type: Historical Market (2014-2018) and Forecast (2019-2024)
            5.1.3.1    Palm Oil
            5.1.3.2    Soybean Oil
            5.1.3.3    Canola Oil
            5.1.3.4    Sunflower Oil
            5.1.3.5    Coconut Oil
            5.1.3.6    Others
        5.1.4    Figure: Breakup by Application: Historical Market (2014-2018) and Forecast (2019-2024)
            5.1.4.1    Food
            5.1.4.2    Industrial
            5.1.4.3    Biofuel
            5.1.4.4    Others
        5.1.5    Chart: Breakup by Country
            5.1.5.1    Brazil
            5.1.5.2    Argentina
            5.1.5.3    Colombia
            5.1.5.4    Others
        5.1.6    Figure: Breakup by Country: Historical Market (2014-2018) & Forecast (2019-2024)
            5.1.6.1    Brazil
            5.1.6.2    Argentina
            5.1.6.3    Colombia
            5.1.6.4    Others
    5.2    SWOT Analysis
        5.2.1    Overview
        5.2.2    Strengths
        5.2.3    Weaknesses 
        5.2.4    Opportunities
        5.2.5    Threats
    5.3    Value Chain Analysis
    5.4    Porter’s Five Forces Analysis

        5.4.1    Overview
        5.4.2    Buyer’s Power
        5.4.3    Supplier’s Power
        5.4.4    New Entrants
        5.4.5    Degree of Rivalry
        5.4.6    Substitutes
    5.5    Global (HS Code-1511, 1512, 1514) Trade Analysis (2018)
        5.5.1    Major Exporting Countries by Value & Volume
        5.5.2    Major Importing Countries by Value & Volume
    5.6    LATAM Vegetable Oil Market: Price Analysis
        5.6.1    Brazil Historical Price Trends (2014-2018) & Forecast (2019- 2024)
        5.6.2    Argentina Historical Price Trends (2014-2018) & Forecast (2019-2024)
        5.6.3    Colombia Historical Price Trends (2014-2018) & Forecast (2019-2024)
6    Manufacturing Process
    6.1    Detailed Process Flow
    6.2    Operations Involved
    6.3    Mass Balance
7    Cost Analysis
    7.1    Land, Location and Site Development
    7.2    Construction
    7.3    Plant Machinery
    7.4    Cost of Raw Material
    7.5    Packaging
    7.6    Transportation
    7.7    Utilities
    7.8    Manpower
    7.9    Other Capital Investment
8    Competitive Landscape & Supplier Analysis
    8.1    Archer Daniels Midland Company
    8.2    Bunge Limited 
    8.3    Cargill Incorporated
    8.4    Louis Dreyfus Company
    8.5    Aceitera General Deheza S.A
    8.6    Others
9    Consumer Analysis
10    Events and Developments

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