COVID-19 is expected to benefits edible oils with retail volume growth recovering after several years of decline. One factor that drove volume growth was dubious claims that consuming fat is good for the immune system.
Sunflower is the top selling oil in Kazakhstan by far and local and Russian account for most of the value share. The four leading manufacturers of edible oils in Kazakhstan are May, which offers Zabota and Maslozavod, Savola Foods which offers Leto and Khoziayushka, Eurasian Foods, with Shedevr and Zhelaniya and Bunge SNG, with Oleina and Ideal.
Sunflower oil remains the most popular edible oil in Kazakhstan, due to it being a traditional oil used for cooking. Kazakhs continue to have a preference for the its taste, particularly the older generation.
COVID-19 is expected to benefit edible oils in 2020, with retail volume recovering after several years of decline. However, if restrictions on movement are lifted by 2021, it is expected that there will be a decline in retail volume and minimal growth in value share.
The health and wellness trend has seen players respond to consumer demands by offering olive oil and other edible oils that are considered as healthier and more nutritious compared to the popular sunflower oil, with both expected to register the highest current value growths in 2020. In fact, almost all brands of edible oils, including sunflower oil, are offered with a healthy product positioning.
There is an opportunity for private label to develop over the forecast period. Edible oils, in particular sunflower oil, is an essential food product and local resources that could be utilised for domestic production.
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Understand the latest market trends and future growth opportunities for the Edible Oils industry in Kazakhstan 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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