Other Oils & Fats - NAFTA | Statista Market Forecast

Revenue in the Other Oils & Fats market amounts to US$2.17bn in 2024. The market is expected to grow annually by 3.90% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$2bn in 2024).
In relation to total population figures, per person revenues of US$4.25 are generated in 2024.
In the Other Oils & Fats market, volume is expected to amount to 306.70m kg by 2029. The Other Oils & Fats market is expected to show a volume growth of 1.6% in 2025.0.
The average volume per person in the Other Oils & Fats market is expected to amount to 0.6kg in 2024.

Definition:

The Other Oils & Fats market covers lard and other edible animal fats, such as fat from cattle, buffaloes, sheep, goats, poultry, fats and fish oils.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

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Lard
Other animal fats
Duck and chicken fats
Fish oils, liver fish oils, fish fats

Butter
Margarine
Vegetable oils
Olive oils
Out-of-home consumption

The Other Oils & Fats Market within The Food market in NAFTA is experiencing negligible growth, influenced by factors such as market saturation, shifting consumer preferences towards healthier options, and the rising popularity of plant-based alternatives.

Customer preferences: Consumers in the Other Oils & Fats Market are increasingly gravitating towards healthier and more sustainable options, reflecting a broader cultural shift towards wellness and environmental consciousness. This trend is particularly evident among younger demographics, who favor oils derived from plants, such as avocado and coconut, over traditional fats. Additionally, the rise of flexitarian and vegan diets is driving demand for oils that complement plant-based cooking. As a result, brands are reformulating products to align with these evolving lifestyle choices, enhancing their appeal to health-conscious consumers.

Trends in the market: In North America, the Other Oils & Fats Market is experiencing a significant shift towards plant-based oils, with consumers increasingly opting for healthier alternatives like avocado and coconut oils. This trend is particularly pronounced among younger generations, who prioritize wellness and sustainability in their dietary choices. The rise of flexitarian and vegan diets is further fueling demand for oils that enhance plant-based cooking. As a result, manufacturers are reformulating products to cater to these preferences, which could reshape supply chains and marketing strategies, compelling industry stakeholders to adapt rapidly to changing consumer expectations.

Local special circumstances: In North America, the Other Oils & Fats Market is shaped by diverse local factors, including the region's agricultural landscape and cultural attitudes toward food. The U.S. and Canada have a rich agricultural heritage, fostering a strong emphasis on local sourcing and organic farming practices. Moreover, health-conscious consumers are increasingly wary of saturated fats, driving the demand for oils like olive and canola. Regulatory initiatives promoting sustainability further influence product development, pushing manufacturers to innovate with eco-friendly packaging and transparent sourcing practices, aligning with consumer values.

Underlying macroeconomic factors: The Other Oils & Fats Market in North America is significantly influenced by macroeconomic factors such as agricultural productivity, trade policies, and consumer spending patterns. Rising global demand for healthier food options has led to increased investment in the production of oils like avocado and flaxseed, aligning with health trends. Additionally, fluctuations in commodity prices and supply chain disruptions can impact costs and availability. Fiscal policies promoting sustainable agriculture and local sourcing further encourage innovation in product offerings, while growing awareness of environmental impacts drives consumers toward eco-friendly and ethically sourced oils, shaping market dynamics.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.