In 2020, edible oils is anticipating stronger retail volume and current value growth than was seen the previous year, while foodservice volume is expected to contract. The restrictions in functioning of foodservice outlets due to COVID-19 pandemic contributed substantially to the increase of home cooking, which supported the growing demand for edible oils in 2020.
Although sunflower oil will continue to dominate edible oils in 2020, health conscious consumers will become increasingly interested in smaller but healthier categories, such as palm oil. Demand is supported by increasing awareness of the benefits of consumption of natural fats, with more consumers expected to recognise edible oils is harmless and appropriate for a healthy lifestyle and diet.
Bunge Romania SRL maintains its first ranking position in 2020, which it held throughout the review period, due to its large variety of brands and expanded distribution across all channels. The company is a constant innovator, oriented to the consolidation of its brands.
After the expectation of a strong year of growth in 2020, edible oils is projected to stagnate in retail volume terms in 2021, and post slower current value growth than was seen in 2020. As lockdown ends consumers will have less time for home cooking and are expected to return to normalised levels of demand for edible oils.
Private label brands are likely to continue increasing their presence in edible oils in the forecast period. Private label enjoyed a good performance in 2020 against the backdrop of COVID-19, benefitting from lower selling prices and aggressive expansions into modern grocery retailers, which lead sales of edible oils in Romania.
Although consumption of edible oils is expected to remain high, as is the domination of sunflower oil, the forecast period will likely witness stronger growth of smaller categories more attuned to healthy lifestyles. Health conscious consumers will become more informed about the benefits of consuming natural fats in diets, following the global trend that natural fats are more appropriate for a healthy lifestyle.
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Understand the latest market trends and future growth opportunities for the Edible Oils industry in Romania 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.
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This report originates from Passport, our Edible Oils research and analysis database.
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