Key regions: Canada, India, Spain, Philippines, South Korea
The Oils & Fats Market in Croatia is experiencing negligible growth, influenced by shifting consumer preferences towards healthier options, increased awareness of nutritional benefits, and competitive pricing, which challenge traditional products and slow overall market expansion.
Customer preferences: Consumers in Croatia are gravitating towards healthier oils and fats, influenced by a growing awareness of dietary impacts on health. This trend is marked by a rise in demand for plant-based oils, such as olive and avocado oil, reflecting a cultural preference for Mediterranean diets. Additionally, younger demographics are prioritizing sustainability and organic options, driving shifts in purchasing behavior. The increased interest in cooking at home, spurred by the pandemic, has further propelled consumers to seek out premium and functional oils, enhancing their culinary experiences.
Trends in the market: In Croatia, the Oils & Fats market is experiencing a notable shift towards healthier alternatives as consumers increasingly prioritize nutritional value and wellness. There is a rising demand for plant-based oils, particularly olive and avocado oil, driven by a cultural affinity for Mediterranean diets. This trend is further amplified by younger consumers who emphasize sustainability and prefer organic products. The pandemic has also encouraged home cooking, leading to greater interest in premium oils that enhance culinary experiences. As these trends evolve, industry stakeholders must adapt by offering innovative, high-quality products that align with consumer values and preferences.
Local special circumstances: In Croatia, the Oils & Fats market is shaped by distinct geographic and cultural factors, such as the country's Mediterranean climate that is conducive to olive cultivation. This has fostered a deep-rooted tradition of olive oil production, making it a staple in local cuisine. Additionally, the Croatian emphasis on health and wellness, coupled with EU regulations promoting organic farming, drives the demand for high-quality, sustainably sourced oils. Local consumers' affinity for traditional dietary practices further enhances interest in artisanal and premium oils, influencing market dynamics significantly.
Underlying macroeconomic factors: The Oils & Fats market in Croatia is significantly influenced by macroeconomic factors such as global commodity prices, national economic stability, and local agricultural policies. Fluctuations in the prices of raw materials, particularly olive oil, can affect production costs and retail prices, impacting consumer purchasing behavior. Additionally, Croatia's integration into the EU provides access to funding and investment in sustainable agricultural practices, enhancing production quality. National fiscal policies supporting organic farming and health initiatives further stimulate demand for premium oils, while rising disposable incomes encourage consumers to prioritize quality over quantity in their dietary choices.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
