Edible oil is one of the essential substances in humans’ daily diet. The edible oil may be used for cooking or as a food additive. Based on the report published by Research and Markets1, the global edible oil market generated a revenue of USD $96.88 billion in 2019, with an CAGR at 3.57 percent. The market is expected to attain a market value of USD $119.57 billion by the end of 2025.

Meanwhile the North American market, as one of the largest consumer markets in the world, accounts for about 20% of the global market according to Market Data Forecast2. In other words, by 2025, the edible oil industry is projected to reach approximately USD $24 billion in the region of North America.