Consumers are expected to continue experiencing financial pressure in the foreseeable future. Moreover, edible oil prices are unlikely to see a significant reduction in the near term.
Brand loyalty is predicted to remain of minimal importance to consumers, given their inclination towards brands that align with their budget constraints. The shift towards affordability and value for money is likely to take precedence over loyalty to specific brands.
Health-conscious consumers are placing a strong emphasis on their wellbeing, leading to an increased demand for healthier edible oils, such as olive oil. However, a significant barrier to widespread adoption of olive oil is its comparatively high price tag, primarily due to it being predominantly imported.
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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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