Edible oils will register muted constant value growth over the forecast period, though volume growth will be stable. Edible oils’ positioning as a staple cooking ingredient which is also supported by subsidies will continue to support value sales.
Olive oil will gain volume share over the forecast period, as local production of olive oil continues to increase. Also, given the predicted rise of international prices of vegetable and seed oil, caused partly by the war in Ukraine, this may also prompt consumers to switch to olive oil.
A growing awareness that cooking with oil is unhealthy will dampen volume growth over the forecast period, as consumers cut downs on the volumes used in cooking, or even switch to other alternatives. However, this increased health consciousness will also see a shift within edible oils, as consumers look to olive oil over vegetable oils.
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This is the aggregation of olive oil and vegetable and seed oil (which comprises of corn oil, palm oil, rapeseed oil, soy oil, sunflower oil, and other edible oil). Please note blended oil that contain over 50% of one type of oil are categorised in that category, e.g. blended oil with 60% soy oil is categorised in soy oil; whereas blended oils with less than 50% of a specific type of oil are categorised in other edible oil. Includes: Pre-packaged edible oils products purchased by consumers through legally established retail channels. Excludes: Unpackaged/bulk oils, i.e. instances where consumers bring an empty container or plastic bag to be (re)filled with cooking oil. Example: Minyak curah in Indonesia.See All of Our Definitions
This report originates from Passport, our Edible Oils research and analysis database.
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