Against a backdrop of economic instability marked by decelerating growth since 2016, private label was a refuge for consumers looking for economy and value-for-money products in this category. This was especially the case in more expensive oils such as olive oil, where consumers are still learning about the differences and advantages compared to other types.
To remain attractive amidst the expansion of cheaper private label products that offer edible oils that are considered “healthier” such as rapeseed, sunflower and olive at more affordable unit prices, brands such as Gourmet are betting on fortified and functional ingredients. Fortification with vitamins A, D and E and Omega fatty acids aid the brands’ attempts to retain consumers and halt any switch to cheaper alternatives, for example cooking fats or illegal edible oils.
Mixes of different oils of unknown origin from independent operators not using technically correct or clean processing for sale in small quantities at lower prices are some of the forms of illegal edible oils in Colombia, which, according to trade sources, account for close to 30% of total oils sold in the country. Consumers searching for economy products come to this black market, which can be a danger to health as incorrect oil processing can result in product contamination.
Team Foods Colombia SA strengthened its leadership of edible oils in 2018, gaining value share. The company is greatly renowned for being innovative with recent launches such as Gourmet coconut oil or Olivetto olive oil with an intense and soft flavour.
Team Foods Colombia, Lloreda SA experienced the biggest gain in value share due to the introduction of Premier Light and Premier Canola, both responding to visible consumer preferences. Premier Light, with a lower percentage of saturated fat, and Premier Canola, a rapeseed oil that benefits from the good performance that this oil type is enjoying, were driven by the health and wellness trend.
The price hurdle that was a barrier for the expansion of olive oil consumption has been addressed by the arrival of a plethora of brands that are increasing the product’s exposure. Consumers benefit from an increasing offer in a wider price range, including private label, which has decisively helped to popularise olive oil in Colombia.
You have no recently viewed reports.
Why not browse through our Featured or Trending Reports to see what we have to offer?
Files are delivered directly into your account within a few minutes of purchase.
Discover the latest market trends and uncover sources of future market growth for the Edible Oils industry in Colombia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Edible Oils industry in Colombia, our research will save you time and money while empowering you to make informed, profitable decisions.
The Edible Oils in Colombia market research report includes:
Our market research reports answer questions such as: