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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 value of about USD 17.3 billion in 2020. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 3.5% to reach nearly USD 21.6 billion by 2026.
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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
- Others
The EMR report looks into the regional markets of vegetable oil in Latin America like Brazil, 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
- Aceitera General Deheza 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.
| 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, Biofuel, Others |
| Breakup by Country | Brazil, Argentina, 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- Regional |
| 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, Aceitera General Deheza 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 Analysis
8.1 Key Industry Highlights
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 Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Latin America Vegetable Oil Market Analysis
9.1 Key Industry Highlights
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 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis
12.1 Major Exporting Countries
12.1.1 By Value
12.1.2 By Volume
12.2 Major Importing Countries
12.2.1 By Value
12.2.2 By Volume
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Archer Daniels Midland Company
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Cargill Inc.
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Bunge Ltd.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Louis Dreyfus Company B.V
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Aceitera General Deheza
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Vegetable Oil Market: Key Industry Highlights, 2018 and 2028
2. Latin America Vegetable Oil Market: Key Industry Highlights, 2018 and 2028
3. Latin America Vegetable Oil Historical Market: Breakup by Type (USD Million), 2018-2022
4. Latin America Vegetable Oil Market Forecast: Breakup by Type (USD Million), 2023-2028
5. Latin America Vegetable Oil Historical Market: Breakup by Application (USD Million), 2018-2022
6. Latin America Vegetable Oil Market Forecast: Breakup by Application (USD Million), 2023-2028
7. Latin America Vegetable Oil Historical Market: Breakup by Country (USD Million), 2018-2022
8. Latin America Vegetable Oil Market Forecast: Breakup by Country (USD Million), 2023-2028
9. Major Exporting Countries by Value
10. Major Importing Countries by Value
11. Major Exporting Countries by Volume
12. Major Importing Countries by Volume
13. Latin America Vegetable Oil Market Structure
Key Questions Answered in the Report
In 2020, the Latin America vegetable oil market attained a value of nearly USD 17.3 billion.
The market is projected to grow at a CAGR of 3.5% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 21.6 billion by 2026.
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 industry 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 industry are Brazil, Argentina, and Chile, among others.
The major types of vegetable oil in the industry 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, among others.
The major players in the industry are Archer Daniels Midland Company, Bunge Limited, Cargill Incorporated, Louis Dreyfus Company, and Aceitera General Deheza S.A., among others.
Analyst Review
The Latin America vegetable oil market attained a value of nearly USD 17.3 billion in 2020, 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 3.5%. The market is projected to reach about USD 21.6 billion by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the vegetable oil industry can be segmented into palm oil, soybean oil, canola oil, sunflower oil, and coconut oil, among others. On the basis of applications, the industry is divided into food, industrial, and biofuel, among others. The major regional markets for vegetable oil are Brazil, Argentina, and Chile, among others. The key players in the above market include Archer Daniels Midland Company, Bunge Limited, Cargill Incorporated, Louis Dreyfus Company, and Aceitera General Deheza S.A., among 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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