Over the forecast period, retail volume sales of edible oils are expected to grow moderately. As the impact of the COVID-19 pandemic further lessens, consumer spending will likely further shift back from food and beverages, and at-home entertainment, to foodservice, outdoor activities and travelling.
As a result of a strategic review and the need to focus on more high-growth areas, Kraft Heinz sold its Planters snacking portfolio and business to Hormel in early 2021 and the deal closed in June 2021. Although it was not disclosed explicitly, the deal also includes Planter brand vegetable oils, and it complements Hormel’s current portfolio that includes SPAM processed meats.
In recent years, alternative oils such as avocado oil and sesame oil have been growing in popularity among consumers. This is in part due to the health and wellness trend –avocado oil is known to be a healthier edible oil, along with olive oil – but also to a curiosity and willingness to cook with new ingredients and explore different cuisines.
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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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