Vegetable fats and oils and their fractions: fixed, n.e.s. in heading no. 1515, whether or not refined, but not chemically modified

In 2024, vegetable fats and oils and their fractions: fixed, n.e.s. in heading no. 1515, whether or not refined, but not chemically modified trade exhibited strong growth, with global flows reaching $3,308,880,285 and a three-year compound annual growth rate of +6.9% (five-year: +9.4%). The all-time peak of $3,308,880,285 was recorded in 2024.

Over the 30-year observation window (1995–2024), 83% of years recorded positive growth, indicating a predominantly expanding market. Trend momentum is steady (-0.1% acceleration).

The World Trade Flows Characterization classifies vegetable fats and oils and their fractions: fixed, n.e.s. in heading no. 1515, whether or not refined, but not chemically modified as "One-way trade" in the high price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is diversified (Herfindahl-Hirschman Index 0.051). The three largest exporters — Mexico ($431.1M), Spain ($283.2M), and United States ($266.2M) — collectively dominate supply flows. The leading exporter has grown at +23.4% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.071). The three largest import markets are United States ($734.9M), France ($185.2M), and Netherlands ($164.5M). The largest importing market sources from 102 different supplying countries.

Estimated substitution elasticity: -1.56. Buyers tend to remain with established suppliers even when price differences exist.

The dominant trade corridor is Mexico → United States at $332.7M, representing 45.3% of the importer's total demand.

The volatility score for vegetable fats and oils and their fractions: fixed, n.e.s. in heading no. 1515, whether or not refined, but not chemically modified is 7 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, strong demand tailwinds create a favourable entry environment. The diversified supply landscape means many competitors but also multiple entry points and buyer relationships to target.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.