There will be a slight decline in retail volume sales of edible oils during the forecast period as a whole. During the early part of the forecast period, inflationary pressure is set to remain elevated, so local consumers will remain cautious in their spending.
In retail volume sales terms, other edible oils will remain the top performer in edible oils during the forecast period. Retail volume sales of olive oil will also increase due to its strong positioning as a healthy product that can play a role in strengthening the immune and cardiovascular systems.
Private label accounted for more than a quarter of retail value sales of edible oils during 2022, and this figure will continue to increase throughout the forecast period. The product offer in private label edible oils will continue to widen, particularly in terms of premium and organic offerings.
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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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