Retail demand is expected to increase in edible oils in 2020 as a result of the COVID-19 pandemic. The category is expected to demonstrate growth in both retail volume sales and retail current value sales as national lockdown and social distancing measures mean that more consumers are cooking at home.
Shemen Industries Ltd is expected to retain its strong leadership in edible oils in 2020 thanks to the success of its leading brand Eitz Hazeiet and third-place brand Miloumor. Shemen Industries has operated locally for many decades, maintaining high brand recognition due to the popularity of its Eitz Hazeiet and Miloumor ranges, which enjoy widespread availability.
Strauss Group, as a large-scale player, benefits from wide distribution and resources, enabling it to invest strongly in marketing and innovation. The company’s Yad Mordechai brand also competes within categories in other areas such as honey and cooking sauces, with each new launch and marketing campaign contributing indirectly to overall brand image and awareness.
Although edible oils is expected to suffer considerable foodservice volume losses in 2020, foodservice sales are expected to recover once COVID-19 restrictions and regulations end. As such, edible oils is expected to record a relatively high growth rate going into the forecast period as the category regains momentum, and moderate continued growth throughout the rest of the forecast period.
During the forecast period, sales will continue to shift towards healthier products in edible oils, which will result in a decrease in vegetable oils but an increase in olive oil and other edible oils which are marketed as having particular health benefits. Products such as soy, palm and corn oil have a highly negative image, with sales declining in these areas for many years now.
Premiumisation in edible oils, caused by the growing shift to healthier but niche products in other edible oils, will contribute to rising unit prices over the forecast period. These more niche offerings are usually imported and purchased predominantly in smaller speciality stores.
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This report originates from Passport, our Edible Oils research and analysis database.
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