During the lockdown, many Irish consumers felt a call to support the domestic economy, and so switched from edible oils produced abroad to locally-made products. As a result, Irish rapeseed oil is becoming significantly more sought-after, while olive oil - which is entirely imported - will show the slowest growth of all edible oils in 2020.
The closure of foodservice outlets is encouraging consumers to cook more at home. This brought about stockpiling during the three months in the middle of 2020 that the lockdown was in force, and is leading to more frequent use of edible oils in general.
For the duration of the lockdown in 2020, larger edible oil manufacturers were able to continue their production, albeit often with reduced staff numbers, and with additional difficulties in the supply chain. The most prominent domestic brands of rapeseed oil, such as Donegal Rapeseed Oil Company, benefit from robust marketing and a strong distribution network.
While e-commerce is expected to gain share in sales of edible oils in 2020 and into the forecast period, in line with overall consumer shopping trends, this will remain a minor channel. Due to edible oils’ long expiry dates, consumers generally stockpiled these products in store at the start of the pandemic and saw little need to make replacement purchases via e-commerce for the remainder of 2020.
It is expected that rapeseed oil will continue to grow strongly during the forecast period. It has begun to be known as “liquid gold”, for its apparent health benefits over sunflower oil.
The increasing interest among Irish consumers in higher quality products, dovetailed with the growing health and wellness trend, will accelerate the growth of more premium edible oils, such as coconut oil and avocado oil. Coconut oil sales have previously boomed in the country due to the developing health and wellness trend and the endorsement of coconut oil by celebrity influencers and food bloggers.
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Understand the latest market trends and future growth opportunities for the Edible Oils industry in Ireland with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Edible Oils research and analysis database.
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