Edible oils has always been popular in Bolivia and after seeing consistent growth over the review period will record noticeably higher current value growth rates in 2020 due to the pandemic. In fact, edible oil has been one of the most purchased food products in Bolivia since the outbreak of COVID-19, given its disposition as an essential food item.
Towards the end of the review period, the multinational Peruvian player Alicorp, acquired the two leading domestic players in edible oils, Industrias de Aceite and ADM, owners of Fino and Sao. Both Industrias de Aceite and ADM, are ample leader in edible vegetable oils and seed oils, accounting for more than two-thirds of the market value.
Prior to the pandemic, the health and wellness trend was leading olive oil to enjoy a stronger penetration among mid- and higher-income households. Olive oil, however, is expensive when compared to vegetable and seed oils.
In 2021, current value growth rates are expected to fall after performing well in response to the pandemic. Compared to other countries in the Latin American region, consumption of edible oil per capita will remain low in Bolivia.
One of the main factors expected to drive foodservice volume growth from 2022 onwards will be fast food. Despite having to close for several months in 2020 and working under maximum capacity limitations, the resumption of the food industry is anticipated to boost demand for edible oils.
Sustained devaluation of the currencies of neighbouring countries in relation to the Bolivian peso, especially of Argentina and Brazil, motivates the growth of smuggled goods into Bolivia. This is true for all edible oils, but particularly for olive oil which does not have significant local production.
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Understand the latest market trends and future growth opportunities for the Edible Oils industry in Bolivia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Edible Oils research and analysis database.
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