Latin America Vegetable Oil Market To Grow At A CAGR Of 3.5% During The Forecast Period Of 2023-2028
The new report by Expert Market Research titled, ‘Latin America Vegetable Oil Market Price, Size, Share, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the Latin America vegetable oil market, assessing the market based on its segments like types, applications, and major countries.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Latin America Vegetable Oil Market Size, Share, Price, Growth, Trends, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 3.5%
The increasing demand for vegetable oil from household, owing to the increasing population, increasing popularity of green vegetables, and increasing inclination of millennials towards cooking, is driving the market growth. Vegetable oil is also used for industrial purposes, such as the manufacturing of soaps, skin products, and perfumes, among others.
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In this regard, over the forecast period, the product is likely to witness a healthy demand for manufacturing personal care products. Moreover, the increasing demand for biofuels as a substitute of diesel, owing to the escalating concerns pertaining to climate change, is likely to be a crucial growth driving factor for the market in the coming years.
Latin America Vegetable Oil Industry Definition and Major Segments
Vegetable oil is defined as the type of oil which is derived from plants and is used for cooking and frying. Vegetable oil is odourless and does not have any flavour. The smoke point of vegetable oil is high and is compatible with high heat cooking methods.
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On the basis of type, the market can be segmented into:
- Palm Oil
- Soybean Oil
- Canola Oil
- Sunflower Oil
- Coconut Oil
- Others
The product finds applications in the following industries:
- Food
- Industrial
- Biofuel
- Others
The regional markets for Latin America vegetable oil include:
- Brazil
- Argentina
- Chile
- Others
Latin America Vegetable Oil Market Trends
The key trends in the vegetable oil market in Latin America include the thriving online-retail industry, which is propelling the sales of various downstream products of vegetable oil, such as cosmetics, food products, and candles, among others. In addition to this, the rising standards of living in the region, owing to the steady economic growth of the emerging economies is likely to garner significant opportunities for the online sales channel.
Moreover, the increasing popularity of perfumes and deodorants among teenagers and millennials is likely to propel the sales of vegetable oil in the forecast period.
Key Market Players
- Archer Daniels Midland Company
- Bunge Limited
- Cargill Incorporated
- Louis Dreyfus Company
- Aceitera General Deheza S.A.
- Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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