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Learn more42 pages, Oct 2015
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The category’s 5% increase in current value terms in 2015 was particularly strong for the review period and can primarily be accounted for by the dramatic increase in the price of butter. Butter began its rise in 2014, lifting the category as a whole by 4%. Oils and fats posted a current value CAGR of 3% over the review period.
Private label as a whole led the category in 2015 with sales of US$3 billion, although the best-selling branded player continued to be Land O’ Lakes with sales of US$892 million in butter (not counting the brand’s presence in butter blends). Land O’ Lakes posted a staggering 19% value sales increase in butter in 2014, followed by a 20% rise in 2015. This can be attributed to the soaring unit price of butter. Land O’ Lakes is a member-owned agricultural cooperative with approximately 3,600 directly producing members. Under the cooperative business model, members sell their milk to Land O’ Lakes for production rather than the company operating vertically integrated dairy farms.
Producers of spreadable fats will need to remove partially hydrogenated oils from their products as the US Food and Drug Administration (FDA) publically no longer considers trans-fats as “generally recognised as safe” for human consumption. Mandatory trans-fat labelling became effective in January 2006 in the US. This change prompted producers of margarine, regular spreadable oils and fats and cooking fats to reduce the level of trans-fats to less than 0.5g per serving, so they could list 0g of trans-fats per serving on their nutrition labels. In November 2013, the US Food and Drug Administration (FDA) announced a proposal to ban the major source of trans-fats, partially hydrogenated oils, considering them as not “generally recognised as safe” for human consumption. In June 2015, the FDA announced that the legislation will be enacted to the fullest extent by 2018. The legislation stipulates that the industry has three years to completely eliminate trans-fats from ingredient lists or products containing trans-fats will not be allowed to be sold in the US. This legislation will dramatically change the retail landscape in the coming years.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Oils and fats industry in USA with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Packaged Food market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.