Both retail current value and volume sales of edible oils posted declines at the end of the review period, with this expected to continue over the forecast period. One of the key reasons is the healthy living trend and respective changes in nutritional habits.
2018 was a difficult year for the production of olive oil in several regions of Greece. The main causes were the weather conditions, as well as the Dakus, an olive fruit fly.
Volume sales of olive oil have been declining for some years. Although this was partly due to the poor harvests, as mentioned above, there were also other factors.
Overall private label continued to lead edible oils in 2019. It made significant gains in the category over the early to middle review period thanks to its low retail price and heavy investment by leading grocery retailers in their private label portfolios.
Elais Unilever Hellas and domestic company Minerva were the key branded players in edible oils in 2017. However, in 2018, Unilever Group decided to leave the category of spreads and margarines globally, whilst in Greece it also included the olive oil category.
The Karpea Gourmet Flavours range of aromatic olive oils was launched in AB supermarkets in the middle of the review period. Aromatic natural ingredients such as oregano, chilli and sea salt are infused in extra virgin olive oil from Karpea.
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