The intensified lockdown restrictions introduced from 15 March mandated the temporary closure of non-essential shops and businesses, including bars, restaurants and cafés. This is leading to an unprecedented prediction of a steep double-digit decline in consumer foodservice volumes for 2020.
E-commerce sales of edible oils are set to witness a strong impetus in 2020 as more consumers opt for the contactless shopping model in order to limit their social contact during the epidemic. Existing customers are increasing their purchases through e-commerce, whilst many new customers have begun to shop online due to the health crisis.
The COVID-19 lockdown periods are leading to an increase in food wastage as consumers are forced to prepare food at home. The high-volume purchases involved in family cooking as a leisure activity mean that more food is going to waste.
Olive oil is set to drive both retail volume and value growth over the forecast period, with value sales outperforming volume as producers look to increase the quality of their olive oil. The current olive oil production model in Spain prioritises quantity over quality.
Given the renewed emphasis on health and wellness after the devastating impacts of the COVID-19 pandemic on the country, healthier consumption will be on the minds of many Spaniards going forward. More consumers will likely wish to focus on healthier diets which can support their immune systems and cardiovascular health.
Sustainability will become a major trend within olive oil over the forecast period. Consumers are becoming more aware of the importance of sustainable production and will be demanding this from producers in ever increasing numbers, whilst manufacturers recognise that the trend will increase the value of their products.
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Understand the latest market trends and future growth opportunities for the Edible Oils industry in Spain 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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