North America Cooking Oil Market

North America Cooking Oil Market Size, Share, Growth (2022-2027)

North America Cooking Oil Market was worth USD 19.74 billion in 2022 and is estimated to be growing at a CAGR of 3.97%, to reach USD 23.98 billion by 2027.

North America Cooking Oil Market Overview

Cooking oil is a fat that is obtained from animal, plant, and synthetic sources which are used for cooking. It is also used for flavoring purposes without using heat by spreading over foods such as salad dressings and bread dips. Cooking Oil comes in many forms from plant sources such as palm oil, olive oil, canola oil, soybean oil, peanut oil and other vegetable oils, and animal-based examples are butter and lard. The guidelines are that 10% or less of calories obtained daily shall be from saturated fat and 20-35% of obtained calories daily shall come from monounsaturated and polyunsaturated fats. Oils such as coconut oil, palm oil and palm kernel oil are high in saturated fat, which upon high usage is associated with cardiovascular diseases and high LDL concentration in the blood. Trans fats are known not to promote good health and consumption is associated with coronary heart disease.The North America Cooking Oil market is driven by factors like rising preference for convenience foods, rising awareness about biofuel, rising consumption of vegetable oils, rising population and diversification of products among others. However, the market is constrained by factors like high price involved in the process of extraction of oil from seeds and adverse climatic conditions in some regions.

North America Cooking Oil Market Segmentation

on the basis of extraction

• solvent extraction

• mechanical extraction

• hydrogenation 

• sparging

By application

• food

• diesel 

• industrial sub-segments

On the basis of type

• palm kernel oil

• palm oil

• canola oil

• soybean oil

• sunflower oil 

• minor vegetable oil

North America Cooking Oil Market Regional Analysis

• United States

• Canada 

• Mexico

North America has the third largest market for cooking oil in the world, after the Asia Pacific and Europe regions. Within North America, the United States is expected to have the largest share. Factors such as rising preference of customers for convenience foods and the growing population is expected to propel the market growth in the region.