Over the forecast period, the retail volume CAGR of edible oils is expected to be slightly slower than that seen over 2017-2022. However, this is largely because the review period included 2020, the year that the COVID-19 crisis was at its height and when growth significantly increased due to the shift to the enforcement of homebound lifestyles.
Rapeseed oil is expected to record the most significant volume growth over the forecast period, since canola oil is popular amongst local consumers as it is generally considered to be good for consumers’ health while not being too expensive, unlike olive oil. The health and wellness trend was already a significant influence on demand prior to the outbreak of COVID-19 and has received a notable boost from the experiences of the pandemic, both because of the immediate threat from the disease and awareness of the potential health impacts of the poor diets and sedentary lifestyles associated with long periods of home seclusion.
Soy oil and sunflower oil are expected to record the poorest performances over the forecast period since these oil types are not particularly popular locally and the brand options for these oils are limited. There are no efforts amongst companies to grow consumer interest in soy oil.
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Understand the latest market trends and future growth opportunities for the Edible Oils industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
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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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