2023 U.S. Industry Statistics & Market Forecast - Fats & Oils Refining & Blending

Published: December 2023

Industry Insights

The Fats & Oils Refining & Blending industry has been significantly impacted by several trends in recent years. One of the most significant trends is the increasing demand for plant-based oils and fats, as more consumers are becoming health-conscious and seek out healthier alternatives to traditional animal-based fats. This has led to an increased focus on the production of vegetable and seed oils and a decline in animal fat production.

Additionally, the industry is experiencing increased scrutiny and regulations from governing bodies regarding the use of trans fats and saturated fats, which have been linked to various health problems including cardiovascular disease. This has led to an increased focus on the development of healthier fat and oil blends, including the use of healthier types of fat such as olive oil, avocado oil, and coconut oil which have lower levels of saturated fats and higher levels of beneficial nutrients.

Furthermore, technological advancements in the industry have led to increased automation and digitization of various processes, leading to more efficient and cost-effective production methods. Industry players are also investing in sustainable and environmentally friendly practices, including the adoption of renewable energy sources, waste reduction programs, and eco-friendly packaging options.

Finally, a growing global population and increasing demand for processed food products have created opportunities for the growth of the fat and oil refining and blending industry, particularly in emerging markets where demand is expected to surge. These trends are expected to continue driving the industry's growth and evolution in the coming years.

Product & Services Breakdown

Research products and services in the Fats & Oils Refining & Blending industry generating sales. Note that products are broken into categories with different levels of classification.

Product Description	Sales ($ millions)	Percent of Total Sales
Industry Total
Soybean And Other Oilseed Processing
Soybean Oil
Fats And Oils Refining And Blending
Shortening And Cooking Oils
Margarine, Butter Blends, And Butter Substitutes
Mayonnaise, Salad Dressings, And Sandwich Spreads
Total Miscellaneous Receipts
Resales - Sales Of Products Bought And Sold Without Further Manufacture, Processing, Or Assembly

U.S. Geographic Distribution: Revenue Statistics by State

Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.

Income Statement (Average Financial Metrics)

Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.

	Industry Average	Percent of Sales (Industry Benchmark)
Total Revenue	Order at top of page
Operating Revenue
Cost of Goods Sold
Gross Profit
Operating Expenses
Pension, profit sharing plans, stock, annuity
Repairs
Rent paid on business property
Charitable Contributions
Depletion
Domestic production activities deduction
Advertising
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
Depreciation
Amortization
Other Operating Expenses
Total Operating Expenses
Operating Income
Non-Operating Income
EBIT (Earnings Before Interest and Taxes)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit Net Income

Source: AnythingResearch Analysis of U.S. federal statistics

Compensation & Salary Surveys for Employees

Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.

Title	Percent of Workforce	Bottom Quartile	Average (Median) Salary	Upper Quartile
Management Occupations	7%	Order at top of page
Chief Executives	0%
General and Operations Managers	3%
Office and Administrative Support Occupations	7%
Installation, Maintenance, and Repair Occupations	9%
Other Installation, Maintenance, and Repair Occupations	8%
Production Occupations	46%
Food Processing Workers	9%
Miscellaneous Food Processing Workers	9%
Food Batchmakers	7%
Other Production Occupations	30%
Crushing, Grinding, Polishing, Mixing, and Blending Workers	7%
Packaging and Filling Machine Operators and Tenders	11%
Packaging and Filling Machine Operators and Tenders	11%
Transportation and Material Moving Occupations	14%
Material Moving Workers	13%
Laborers and Material Movers	7%

Source: Bureau of Labor Statistics

Fats & Oils Refining & Blending Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Fats & Oils Refining & Blending industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Fats & Oils Refining & Blending industry and adjacent sectors:

Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry	Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries
Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry.	Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Fats & Oils Refining & Blending industry.

Government Contracts

In 2022, the federal government spent a total of $198,602,093 on Fats & Oils Refining & Blending. It has awarded 134 contracts to 15 companies, with an average value of $13,240,140 per company.   

Most Recent Contracts	Date	Total Award Amount
INCOBRASA INDUSTRIES, LTD. 540 E Us Hwy 24 Gilman, IL	Jun 27, 2023	$461,568