The value sales performance of edible oils will be ensured by higher-than-inflation price increases due to long-term pressure on edible oils supply, as edible oils are irreplaceable ingredients for many industries. Producers are set to shift their production which will alter the price structure and demand for these products in retail, as already exemplified by local fish player Saeby, which is switching to rapeseed oil.
It is expected that consumers will gain an appetite for experimenting with more foods and ingredients. The forecast period is therefore set to see greater variation in the types of edible oils available.
Rising prices are likely to stimulate a shift from dishes such as fried potatoes, that require edible oils in their preparation, with many consumers also switching to alternatives, such as butter, when frying. While consumers are unlikely to be able to afford to eat out as much as they would like, there is nevertheless set to be further declines in the home cooking trend as consumers will shift to ready meals due to the resumption of increasingly hectic lifestyles, the need to save time and the strongly increasing costs of many ingredients.
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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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