In 2020, sunflower oil remained by far the biggest product within edible oils, and continued to see strong growth in both retail volume and current retail value terms. Belarusians view sunflower oil as an essential product and consume it daily for cooking, frying and in salads.
Despite the strong focus on sunflower oil amongst consumers, edible oils are recording growth in the product assortment. For example, sunflower oil brand Altero from Efko offered sunflower oil with the addition of wheat germ and guarana, which is a niche brand, but is growing its shelf space.
In 2020, the leading players in edible oils in Belarus will maintain their positions and increase their current retail value shares. This is thanks to their strong presence in local retail, wide shelf space, and strong advertising campaigns.
Although olive oil has a high unit price, its sales are expected to increased strongly from a low base in both retail volume and current retail value terms in coming years. Consumption of olive oil is in line with the health and wellness trend, along with growing awareness of its advantages and health benefits.
Due to their price sensitivity, Belarusians will continue to pay a great deal of attention to unit prices into the forecast period, particularly as a result of the difficult economic climate due to COVID-19. Even a slight price reduction attracts consumers.
The combined private label share is expected to continue to see strong growth into the forecast period, with the main lines including Gusto, Ochen! and Mestnoe Izvestnoe. Greenroznitsa will also enlarge its assortment of premium edible oils made from black cumin, pumpkin, cannabis, cedar and hand-made sunflower oil.
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Understand the latest market trends and future growth opportunities for the Edible Oils industry in Belarus with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Edible Oils industry in Belarus, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Edible Oils research and analysis database.
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