Edible oils in South Korea is seeing a shift from traditional cooking oil, such as soy oil, to healthier olive oil, in parallel with the ongoing health trend in the food industry. As their interest in health increases, consumers are increasingly considering recipes that use less oil when cooking; consequently, the role and preference for edible oils is changing.
Olive oil is expected to see constant retail volume and current value growth in the forecast period. However, a more negative outlook is expected for vegetable and seed oil, with retail volume decline projected throughout the forecast period, and current value sales turning to decline during the course of the forecast period.
Price is likely to be one of the core factors in the purchase of vegetable and seed oil over the forecast period. In general, in contrast with olive oil, South Koreans tend to pursue brand loyalty or premium products less in vegetable and seed oil; thus, the price crisis resulting from continued inflation after the pandemic is leading to a change in consumers’ purchasing priorities.
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Edible Oils
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 DefinitionsThis report originates from Passport, our Edible Oils research and analysis database.
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