Consumer preference towards healthier edible oils developed further in 2020 thanks to the growing focus on health and wellbeing as New Zealand alongside many countries in the world combats the pandemic. Interest in hemp seed oil has also been gaining traction due to its nutritional benefits as it contains essential fatty acids such as Omega 6 and Omega 3.
There was a growing trend in the second half of 2020 among consumers to actively support New Zealand producers and manufacturers as local businesses struggled to bounce back after lockdown restrictions began easing. Industry players encouraged consumers to buy either directly from producers through e-commerce or speciality retail stores to help businesses that do not have access to wider distribution channels such as supermarkets.
Lockdown restrictions and foodservice closures at the beginning of 2020 caused a strong shift in lifestyle towards cooking at home. Consumers increasingly endeavoured to recreate dishes at home resulting in a consumption shift towards retail and a boost to retail value sales for 2020 as a whole as consumers increasingly chose to cook at home even after lockdown restrictions were lifted.
The lockdown and economic impact of the pandemic caused New Zealand consumers to be much more restrictive in terms of their spending. This in turn led to growing demand for more reasonably priced options in the market without compromising on product quality and health benefits.
William Aitken & Co Ltd remained category leader in New Zealand’s edible oils category holding a strong share thanks to the popularity of its Lupi olive oil. According to industry players, extra virgin olive oil is the most popular as it is considered to be healthier by consumers and has the highest frequency of usage.
Sunflower oil is increasingly considered to be one of the healthier cooking oils with its high oleic acid and monounsaturated fat content as it is more suitable for frying thanks to its extended shelf life. New Zealand farmers are focusing on sunflower oil production driven by players such as Pure Oil New Zealand as they are tapping New Zealand’s domestic market for new opportunities in cooking oils.
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Understand the latest market trends and future growth opportunities for the Edible Oils industry in New Zealand with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Edible Oils industry in New Zealand, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Edible Oils research and analysis database.
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