The minimal, yet stable volume and value growth of sunflower oil, which remains the most popular oil type, is set to ensure stable volume and value growth of edible oils over the forecast period to 2027. Edible oils is also expected to benefit from the future growth of olive oil, which increasingly steals share from other edible oil ranges.
Other edible oil and olive oil are set to be the fastest-growing edible oils ranges over the forecast period. While other edible oils, including coconut, avocado, rice, and hemp oils, witnesses increased consumer demand among young consumers who use them to prepare healthy meals and test their world cuisine skills, olive oil is expected to continue to ride the health and wellness trend and remain in strong demand going forward.
Conversely, as a result of waning interest by local consumers, corn oil is anticipated to record decline in both volume and value terms over the forecast period, whilst rapeseed oil, which continues to witness shortage of market significant brands, is set to stagnate over the forecast period.
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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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