Reports
Latin America Vegetable Oil Market: By Type: Palm Oil, Soybean Oil, Canola Oil, Sunflower Oil, Coconut Oil, Others; By Application: Food, Industrial, Biofuel, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments
Latin America Vegetable Oil Market Outlook
The Latin America vegetable oil market attained a volume of 22.13 MMT in 2022 and expected to grow in the forecast period of 2023-2028 at a CAGR of 1.45% to reach a volume of 24.19 MMT by 2028.
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Increasing Demand for Healthy Vegetable Oils Aiding the Market Growth of Vegetable Oil in Latin America
Various traditional Latin American cuisines such as badeja paisa, chicharron, Picante de cuy, and Yuca frita, among others, are based on deep frying, consequently increasing the use of vegetable oils. Moreover, the surging health-consciousness owing to the high prevalence of health-related issues, such as obesity, hypertension, and diabetes, is escalating the use of virgin vegetable oils, which are rich in antioxidants and retain minerals and vitamins. They can also improve brain health and reduce cholesterol to reduce the risk of heart-related complications. In addition, the increasing usage of vegetable oils, such as sunflower oil and palm oil, in various skincare and cosmetic products to provide antioxidants, vitamin A, and vitamin E to the skin, is increasing the demand for the oils that are extensively produced in Argentina and Brazil, hence propelling the market growth.
Surging Industrial Uses of Vegetable Oils to Boost the Growth of the Vegetable Oil Industry in Latin America
Vegetable oils are increasingly used in various industries as well as in paints and inks as lubricants. The rising environmental awareness and increasing measures to reduce the usage of mineral oils are surging the use of vegetable oils owing to their renewable and sustainable properties in various industrial applications. Further innovations can enable vegetable oils as a substitute for petroleum resources in various industries while providing a diverse variety of fatty acids, which are beneficial for human health. Moreover, increasing research regarding the usage of used vegetable oils as a substitute for petroleum products is augmenting the market growth for vegetable oil in Latin America.
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Vegetable Oil: Market Segmentation
Vegetable oil, variously known as vegetable fat, is typically used to add texture and flavour to various food products. Vegetable oils are extracted by crushing seeds and fruits and are usually considered a healthier source of saturated fats. They are rich in rich in vitamins, minerals, and antioxidants and can reduce the risk of various chronic illnesses such as hypertension.
The major types of vegetable oil are:
- Palm Oil
- Soybean Oil
- Canola Oil
- Sunflower Oil
- Coconut Oil
- Others
The market can be broadly categorised on the basis of its applications into:
- Food
- Industrial
- Biofuel
The EMR report looks into the regional markets of vegetable oil in Latin America like Brazil, Mexico, Argentina, and Chile, among others.
Growing Demand for Biofuels to Augment the Market Growth of Vegetable Oil in Latin America
The rising demand for biofuels owing to growing concerns regarding rapid climate change is augmenting the market growth. This is increasing the demand for biodiesel, which is a substitute for diesel made from vegetable oils. Hence, the surging demand for canola and soybean oil is expected to propel the market growth. The introduction of various stringent measures to reduce carbon footprints by governments in the region is also contributing to the market growth. For instance, Argentina targets to reduce greenhouse emissions by 30% by diversifying energy sources while reducing energy use and improving energy efficiency. Such initiatives are increasing the use of biofuels which are expected to aid the market growth.
A large number of lands available for oilseed production in Argentina and Chile is increasing the use of vegetable oil in biofuels. Moreover, the implementation of various natural and artificial irrigation methods in the region is surging the production of vegetable oils, therefore propelling the industry growth. According to the Food and Agricultural Organisation (FAO), Brazil is expected to be the world’s largest producer of soybean in the world, reaching a volume of 140 million tons by 2029. Moreover, various advantages such as fast growth associated with the production of oilseeds are increasing their production in Latin American countries, which is anticipated to bolster the growth of the vegetable oil industry in the forecast period.
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Key Industry Players in the Latin America Vegetable Oil Market
The report presents a detailed analysis of the following key players in the Latin America vegetable oil market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Archer Daniels Midland Company
- Bunge Limited
- Cargill Incorporated
- Louis Dreyfus Company B.V
- Aceitera General Deheza S.A
- Agropalma S/A
- Camilo Ferrón Chile S.A.
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Application, Country |
| Breakup by Type | Palm Oil, Soybean Oil, Canola Oil, Sunflower Oil, Coconut Oil, Others |
| Breakup by Application | Food, Industrial, and Biofuel |
| Breakup by Country | Brazil, Argentina, Mexico, Chile, Others |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Trade Data Analysis | Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume |
| Price Analysis | Historical and Forecast Price Trends by Type of Vegetable Oil |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Archer Daniels Midland Company, Bunge Limited, Cargill Incorporated, Louis Dreyfus Company B.V, Aceitera General Deheza S.A, Agropalma S/A, Camilo Ferrón Chile S.A., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Latin America
7 Opportunities and Challenges in the Market
8 Global Vegetable Oil Market Overview
8.1 Global Vegetable Oil Market by Value (2018-2028)
8.2 Global Vegetable Oil Historical Market (2018-2022)
8.3 Global Vegetable Oil Market Forecast (2023-2028)
8.4 Global Vegetable Oil Market by Type
8.4.1 Palm Oil
8.4.2 Canola Oil
8.4.3 Coconut Oil
8.4.4 Soybean Oil
8.4.5 Sunflower Oil
8.4.6 Others
8.5 Global Vegetable Oil Market by Application
8.5.1 Food
8.5.2 Biofuel
8.5.3 Industrial
8.6 Global Vegetable Oil Market by Region
8.6.1 North America
8.6.2 Europe
8.6.3 Asia Pacific
8.6.4 Latin America
8.6.5 Middle East and Africa
9 Latin America Vegetable Oil Market Analysis
9.1 Latin America Vegetable Oil Market by Volume (2018-2028)
9.2 Latin America Vegetable Oil Historical Market (2018-2022)
9.3 Latin America Vegetable Oil Market Forecast (2023-2028)
9.4 Latin America Vegetable Oil Market by Type
9.4.1 Palm Oil
9.4.1.1 Historical Trend (2018-2022)
9.4.1.2 Forecast Trend (2023-2028)
9.4.2 Soybean Oil
9.4.2.1 Historical Trend (2018-2022)
9.4.2.2 Forecast Trend (2023-2028)
9.4.3 Canola Oil
9.4.3.1 Historical Trend (2018-2022)
9.4.3.2 Forecast Trend (2023-2028)
9.4.4 Sunflower Oil
9.4.4.1 Historical Trend (2018-2022)
9.4.4.2 Forecast Trend (2023-2028)
9.4.5 Coconut Oil
9.4.5.1 Historical Trend (2018-2022)
9.4.5.2 Forecast Trend (2023-2028)
9.4.6 Others
9.5 Latin America Vegetable Oil Market by Application
9.5.1 Food
9.5.1.1 Historical Trend (2018-2022)
9.5.1.2 Forecast Trend (2023-2028)
9.5.2 Industrial
9.5.2.1 Historical Trend (2018-2022)
9.5.2.2 Forecast Trend (2023-2028)
9.5.3 Biofuel
9.5.3.1 Historical Trend (2018-2022)
9.5.3.2 Forecast Trend (2023-2028)
9.5.4 Others
9.6 Latin America Vegetable Oil Market by Country
9.6.1 Brazil
9.6.2 Argentina
9.6.3 Chile
9.6.4 Mexico
9.6.5 Others
11 Regional Analysis
11.1 Argentina
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Mexico
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 Brazil
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 Chile
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyer’s Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Value Chain Analysis
14 Trade Data Analysis
14.1 Major Exporting Countries
14.1.1 By Value
14.1.2 By Volume
14.2 Major Importing Countries
14.2.1 By Value
14.2.2 By Volume
15 Price Analysis
15.1 Palm Oil Historical and Forecast Price Trends (2018-2028)
15.2 Sunflower Oil Historical and Forecast Price Trends (2018-2028)
15.3 Canola Oil Historical and Forecast Price Trends (2018-2028)
15.4 Coconut Oil Historical and Forecast Price Trends (2018-2028)
15.5 Soybean Oil Historical and Forecast Price Trends (2018-2028)
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Archer Daniels Midland Company
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Cargill Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Bunge Ltd.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Louis Dreyfus Company
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Aceitera General Deheza S.A
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Agropalma S/A
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Camilo Ferrón Chile S.A.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Vegetable Oil Market: Key Industry Highlights (USD Billion), 2018 and 2028
2. Global Vegetable Oil Market: Breakup by Type (USD Billion), 2022
3. Global Vegetable Oil Market: Breakup by Application (USD Billion), 2022
4. Global Vegetable Oil Market: Breakup by Region (USD Billion), 2022
5. Latin America Vegetable Oil Market: Key Industry Highlights (USD BIllion), 2018 and 2028
6. Latin America Vegetable Oil Market: Key Industry Highlights, 2018 and 2028
7. Latin America Vegetable Oil Historical Market: Breakup by Type (MMT), 2018-2022
8. Latin America Vegetable Oil Market Forecast: Breakup by Type (MMT), 2023-2028
9. Latin America Vegetable Oil Historical Market: Breakup by Application (MMT), 2018-2022
10. Latin America Vegetable Oil Market Forecast: Breakup by Application (MMT), 2023-2028
11. Latin America Vegetable Oil Historical Market: Breakup by Country (MMT), 2018-2022
12. Latin America Vegetable Oil Market Forecast: Breakup by Country (MMT), 2023-2028
13. Palm Oil Historical and Forecast Price Trends (2018-2028)
14. Sunflower Oil Historical and Forecast Price Trends (2018-2028)
15. Soybean Oil Historical and Forecast Price Trends (2018-2028)
16. Canola Oil Historical and Forecast Price Trends (2018-2028)
17. Coconut Oil Historical and Forecast Price Trends (2018-2028)
18. Major Exporting Countries by Value
19. Major Importing Countries by Value
20. Major Exporting Countries by Volume
21. Major Importing Countries by Volume
22. Latin America Vegetable Oil Market Structure
Key Questions Answered in the Report
In 2022, the Latin America vegetable oil market attained a volume of 22.13 MMT.
The market is projected to grow at a CAGR of 1.45% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach a volume of 24.19 MMT by 2028.
The market is being aided by the rising demand for healthy vegetable oils and increasing innovations to increase the usage of vegetable oils as a substitute for petroleum products.
The market is expected to be driven by the rising demand for biofuels, the increasing production of oilseeds, and the introduction of various government initiatives to reduce carbon footprints.
The major regions in the market are Brazil, Argentina, Mexico and Chile, among others.
The major types of vegetable oil in the market are palm oil, soybean oil, canola oil, sunflower oil, and coconut oil, among others.
The significant applications in the market are food, industrial, and biofuel.
The major players in the market are Archer Daniels Midland Company, Bunge Limited, Cargill Incorporated, Louis Dreyfus Company B.V, Aceitera General Deheza S.A, Agropalma S/A, Camilo Ferrón Chile S.A., and others.
Analyst Review
The Latin America vegetable oil market attained a volume of 22.13 MMT in 2022, driven by the surging demand for healthy vegetable oils. Aided by the growing demand for biofuels, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 1.45%. The market is projected to reach a volume of 24.19 MMT by 2028.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its type, the vegetable oil market can be segmented into palm oil, soybean oil, canola oil, sunflower oil, and coconut oil, among others. On the basis of applications, the market is divided into food, industrial, and biofuel. The major regional markets for vegetable oil are Brazil, Argentina, Mexico and Chile, among others. The key players in the above market include Archer Daniels Midland Company, Bunge Limited, Cargill Incorporated, Louis Dreyfus Company B.V, Aceitera General Deheza S.A, Agropalma S/A, Camilo Ferrón Chile S.A., Others
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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