| An Overview of Oils & Fats in North America – Focus on Palm Oil in Canada, Mexico and USA |
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| by Norhaznita Husin
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Oils and fats in North American mainland continue to be supported by a vast and consistent demand as a result of increasing population, economic development as well as continue demand for processed foods. Growing processed food consumption and increasing edible oil demand is projected to positively influence the continent’s oils and fats market for the next ten years. Extensive fast food consumption and surge in demand for processed food is expected to bolster the market growth. Increasing disposable income among massive end consumers group is anticipated to have positive influence in overall market growth.
In addition to the dominant food industry end-use, a shift towards chemical, industrial, animal feed, cosmetics and pharmaceutical applications is presumed to further aid the North American mainland market demand. Rising health concerns regarding the adverse effect related to excessive oils and fats consumption is anticipated to hamper the growth. Stringent health and safety regulations and rising raw material prices are slated to further hamper oils and fats market over the next six years. R&D investments to develop Trans Fat substitutes and innovative applications promise vast opportunities for the oils and fats.
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