While the impact of the war in Ukraine on sunflower oil costs globally is likely to calm, the increasing likelihood of climate permacrisis will not only threaten seed crops in the coming years, but will lead to increased stockpiling and global shortages. Input costs will continue to be impacted by the war, as labour, transportation, energy, and fertiliser costs will remain elevated, with no immediate prospect of relief.
For consumers who can still carve out space in their budget for high-end products, the change in the public perception to the consumption of fat in moderation being healthy will sustain growth in the category. Interest in point of origin, terroir, and processing will come from efforts at public education from trade groups such as the North American Olive Oil Association and International Olive Council.
Precision fermentation is one of the more important recent technological advances in food science, and its implication for consumables is rapidly materialising. The process uses tailored microorganisms and simple sugars to, at its most basic, produce food-safe macronutrients or, in increasingly ornate configurations, complex products that emulate existing edible raw goods.
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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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