After seeing solid retail current value growth in 2019, edible oils is expected to see an even stronger increase in 2020. The COVID-19 pandemic and related lockdown restrictions in 2020 resulted in more time spent at home, which in turn increased consumers’ opportunities to cook, therefore boosting the sales of edible oils.
Olive oil is set to be the highest value growth category in 2020 benefitting from increased consumer consumption. Foodservice volume is set to struggle in 2020 due to the closure of hotels, and restaurants operating with reduced hours or only for delivery, as a result most of the retail current value increase is a result of increased demand among local consumers.
Mercasid SA continued to lead edible oils in 2020, with its top-selling brand Crisol accounting for an impressive share of sales. While Crisol is the undisputed leading brand, other oil lines carried by Mercasid also enjoy a strong presence in retail, including Diamante, Mazorca, Manicero and Figaro.
After the expectation of a stronger current value growth for edible oils in 2020, a negative current value growth rate is expected for 2021. One possible explanation is that some consumers will have a stock at home from initial panic buying due to COVID-19, which they will need to use up before making additional purchases.
As more consumers seek the best value for their money, private label players are expected to increase their presence over the forecast period to keep up with the growing demand. While imported brands of vegetable and seed oil are typically limited to the modern grocery retailing channel, private label products are available in many of the larger supermarkets and hypermarkets.
Olive oil is expected to see the strongest current value CAGR in the forecast period, followed by sunflower oil, then other edible oil. Given the strong frying culture in the country and the widespread use of cooking oils, new varieties of other edible oils have started taking off in the marketplace, including avocado oil, certain nut oils (eg walnut oil) and coconut oil.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Edible Oils industry in Dominican Republic 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 Dominican Republic, 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.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page