Key regions: South Korea, United Kingdom, United States, Philippines, China
The Edible Oils Market in Argentina is experiencing steady growth, influenced by factors such as increasing consumer demand for healthy cooking options, rising awareness of benefits associated with various oils, and the expansion of retail distribution channels enhancing accessibility.
Customer preferences: Consumers in Argentina are increasingly gravitating towards healthier cooking oils, driven by a growing awareness of nutrition and wellness. This shift is particularly evident among millennials and health-conscious families who prioritize organic and non-GMO products. Additionally, the rise of plant-based diets is influencing preferences, with olive and avocado oils gaining popularity. Social media platforms play a crucial role in shaping these trends, as influencers promote recipes featuring diverse oils, fostering a culture of culinary experimentation and health consciousness.
Trends in the market: In Argentina, the Edible Oils Market is experiencing a significant shift towards healthier options, as consumers increasingly seek oils that promote wellness and nutrition. The demand for organic and non-GMO cooking oils is on the rise, particularly among millennials and health-conscious families. Olive and avocado oils are gaining traction, reflecting a broader trend towards plant-based diets. This evolving landscape is further fueled by social media influencers who share innovative recipes and health tips, encouraging culinary exploration. For industry stakeholders, these trends present opportunities to diversify product offerings and align with consumer preferences for transparency and sustainability.
Local special circumstances: In Argentina, the Edible Oils Market is shaped by the country's rich agricultural heritage and diverse climate, which allows for the cultivation of various oilseeds. The prevalence of family-owned farms fosters a strong connection to traditional cooking methods, driving demand for local, high-quality oils. Additionally, regulatory support for organic farming practices is enhancing the availability of non-GMO options. Cultural preferences for traditional flavors, such as those found in olive oil, also influence consumer choices, promoting regional products and encouraging sustainable practices within the industry.
Underlying macroeconomic factors: The Edible Oils Market in Argentina is significantly influenced by macroeconomic factors including agricultural productivity, exchange rates, and global commodity prices. The nation’s strong agricultural sector, buoyed by favorable climatic conditions, supports a robust supply of oilseeds, impacting local oil production costs. Additionally, fluctuations in exchange rates can affect the competitiveness of Argentine oils in international markets, shaping export dynamics. National economic health, characterized by inflation rates and consumer spending, also plays a crucial role, as higher inflation can reduce disposable income, influencing demand for premium oils. Lastly, government policies promoting sustainable farming practices and organic certification are fostering market growth by aligning with consumer preferences for health-conscious and environmentally-friendly products.
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.
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