As a result of the COVID-19 pandemic there is likely to be significant decline in foodservice volume of edible oils in the Czech Republic in 2020. Hotels closed down completely in the first half of the year and restaurants were only able to offer food to go.
Despite the pandemic, edible oils is set to record reasonable growth in the Czech Republic in 2020. Olive oil is expected to record the highest retail volume growth, reflecting the growing health and wellness trend and further penetration of quality private label products.
It is unlikely that there will be any significant changes in company share within edible oils in 2020, with GHN Assets as, which offers popular brands such as Lukana, Ceresol and Vegetol, expected to remain the leading player in the country. These are well-established brands which have wide distribution and intense in-store promotion, and they are therefore more capable of withstanding the upheaval of the COVID-19 pandemic.
Price sensitivity will continue across the forecast period as the local economy struggles to recover in the wake of the COVID-19 pandemic and household budgets remain constrained. It is expected that the majority of Czech consumers will keep purchasing edible oils at special price discounts, or look for cheaper products.
Other edible oils is expected to see the slowest volume growth but the highest current value growth across the forecast period, due to the rising consumption of more unusual oils at higher prices. Within this product area, coconut, flaxseed, pumpkin, rice, linseed and sesame are expected to gain a wider consumer base, benefitting from strong in-store promotion, greater exposure in the media, and a growing health and wellness trend as Czech consumers seek to enhance their immunity and wellbeing in response to the COVID-19 pandemic.
The strong growth of olive oil is expected to continue across the forecast period in both retail volume and current value terms. Rapeseed oil and sunflower oil are also expected to continue to see growth in retail current value terms, albeit at a slower rate than olive oil.
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Understand the latest market trends and future growth opportunities for the Edible Oils industry in Czech Republic with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Edible Oils research and analysis database.
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