During 2018, edible oils grew in Azerbaijan, attributed to macroeconomic restoration and improved living conditions of local consumers. Accelerated growth of edible oils in 2018 was also supported by penetration of major oils, including olive oil, sunflower oil, corn oil and others, as cheaper and sometimes also perceived healthier alternatives to butter and spreads.
In 2018, olive oil recorded the best sales growth in edible oils with increasing consumer awareness of health and wellness trends. Hot pressed olive oil and cold pressed olive oil are both represented in Azerbaijan, although the former has wider distribution and is more available through grocery retailers rather than cold pressed oil.
The retailing landscape was characterised in 2018 by the rapid growth of modern grocery retailers, such as convenience stores, supermarkets, hypermarkets and discounters.
Baku Yag & Gida Senaye ASC remained the undisputed edible oils leader in Azerbaijan during 2018, due to strong established relationships with retailers, specifically modern grocery retailers, which swiftly grew over the review period and are expected to continue doing so over the forecast trend. Being connected to the modern retailing network allows Baku Yag & Gida Senaye to benefit from favourable shelf positioning and the advantage of running promotions and carrying out successful in-store marketing activities.
During 2018, domestic production continued to account for the major part of edible oils’ sales in Azerbaijan. Stronger positions of local brands were attributed to their longstanding history in the country and more affordable prices, offered to consumers by domestic producers.
During 2018, companies limited their new offerings by economy-positioned products and those claiming health and wellness trends. Oil mixes, such as Oleina Olive Sunflower by Bunge Ltd, were introduced locally and offered health claims such as using olive products at affordable prices, and mixing them with comparatively cheaper edible oils.
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