Definition:
The Oils and Fats market covers all substances that are composed of fatty acids and used for cooking purposes or as an ingredient in many food products. These fats and oils can be obtained from plants or animals and are available in both liquid (oils) and solid (fats) form.
Structure:
The market consists of four different submarkets:
Additional Information:
The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.
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Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
The Oils & Fats market in Central & Western Europe is experiencing negligible growth due to factors such as shifting consumer preferences towards healthier options, increased awareness of dietary fats, and competition from alternative spreads and oils that cater to evolving tastes.
Customer preferences: Consumers in Central & Western Europe are increasingly favoring plant-based oils and fats, reflecting a growing emphasis on sustainability and health. This shift is driven by younger demographics who prioritize eco-friendly products and clean labels. Additionally, cultural movements promoting Mediterranean and Asian cuisines are influencing preferences for oils rich in omega-3s, like olive and flaxseed oils. As lifestyles become more health-conscious, there’s a noticeable decline in traditional butter and margarine usage, further shaping market dynamics.
Trends in the market: In Central & Western Europe, the Oils & Fats market is experiencing a notable shift towards plant-based oils, driven by increasing consumer demand for sustainability and health-conscious products. Younger consumers are leading this trend, favoring oils like olive and flaxseed rich in omega-3s, influenced by Mediterranean and Asian culinary traditions. As traditional butter and margarine consumption declines, industry stakeholders must adapt by innovating and reformulating products to meet evolving preferences, ensuring they align with the clean label and eco-friendly demands of today's market.
Local special circumstances: In Central & Western Europe, the Oils & Fats market is significantly shaped by the region's rich culinary traditions and strong regulatory frameworks promoting sustainability. The Mediterranean diet, prevalent in southern Europe, emphasizes the use of olive oil, fostering a cultural preference for healthier fats. Additionally, strict EU regulations on food labeling and environmental impact are compelling producers to innovate with cleaner, plant-based alternatives. As consumer awareness of health and sustainability rises, the market is adapting rapidly, with local producers focusing on transparent sourcing and eco-friendly practices to meet demand.
Underlying macroeconomic factors: The Oils & Fats market in Central & Western Europe is influenced by macroeconomic factors such as fluctuating commodity prices, trade policies, and shifts in consumer spending. Economic stability in these countries fosters confidence and encourages consumers to invest in higher-quality food products. Furthermore, the rising costs of raw materials, driven by geopolitical tensions and climate change, are prompting manufacturers to explore more cost-effective and sustainable sourcing options. Additionally, government incentives for green practices and organic certifications are shaping production strategies, steering the market towards innovation and health-conscious offerings that align with evolving consumer preferences.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights