The increasing demand for processed and convenience food products in North America is boosting the regional fats and oils market, says Fortune Business Insights in their new report. The report is titled ”North America Fats & Oils Market Size, Share and Industry Analysis By Source (Vegetable (Soybean Oil, Canola Oil, Corn Oil, Palm Oil, Coconut Oil, Palm Kernel Oil, Olive Oil, Cottonseed Oil, Sunflower Oil, Peanut Oil, Safflower Oil, Sesame Oil, Linseed Oil, and Castor Oil), Animal (Lard, Tallow, Fish Oil, Butter)), By Application (Food & Non-Food Use), and Regional Forecast 2019-2026” According to the report, the market is anticipated to reach 36.60 million tonnes from 25.92 million tonnes, rising at a CAGR of 4.5% within the forecast period of 2019 to 2026. The market is expected to witness faster growth on account of rising consumption of healthy oils such as olive oil, rapeseed oil, and others.

On the basis of application, the food application segment is likely to hold more than 2/3rd share of the market. This is because of the increasing demand for fats and oils from the food and beverage industries in the region. Use of fats and oils in food applications is anticipated to rise at a steady 3.22% CAGR in the forecast duration.

https://www.fortunebusinessinsights.com/industry-reports/north-america-fats-oils-market-100873