Edible Oils - Azerbaijan | Statista Market Forecast

Revenue in the Edible Oils market amounts to US$65.57m in 2024. The market is expected to grow annually by 6.51% (CAGR 2024-2029).
In global comparison, most revenue is generated India (US$35bn in 2024).
In relation to total population figures, per person revenues of US$6.27 are generated in 2024.
In the Edible Oils market, volume is expected to amount to 10.70m kg by 2029. The Edible Oils market is expected to show a volume growth of 3.5% in 2025.0.
The average volume per person in the Edible Oils market is expected to amount to 0.91kg in 2024.

Definition:

The Edible Oils market covers any type of oil that is extracted from plants and nuts and is used for cooking and food preparation.

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.

For more information on the displayed data, click the info button on the right side of each box.

Olive oil
Sunflower oil
Other edible oils (e.g. palm, soybean, coconut oil, canola oil, rapeseed oil, sesame oil, soybean oil)
Cooking oil blends

Butter
Margarine
Animal fats (e.g. lard)
Out-of-home consumption

The Edible Oils Market in Azerbaijan is experiencing subdued growth, influenced by factors such as fluctuating global oil prices, changing consumer preferences, and increased competition from alternative fat sources, which are impacting overall market expansion.

Customer preferences: In Azerbaijan, consumer preferences in the Edible Oils Market are shifting towards healthier and more sustainable options, reflecting a growing awareness of nutrition and wellness. There is an increasing demand for oils rich in omega-3 fatty acids and natural, organic products, influenced by younger demographics prioritizing health-conscious lifestyles. Additionally, traditional cooking methods are being re-evaluated, with many households opting for oils that complement modern culinary trends, such as Mediterranean and Asian cuisines, further diversifying the market landscape.

Trends in the market: In Azerbaijan, the Edible Oils Market is experiencing a significant shift towards premium and health-oriented products, driven by a rising consumer focus on nutrition. The popularity of oils with high omega-3 content is increasing, as younger consumers seek healthier cooking options. Furthermore, the trend towards organic and natural oils is reshaping purchasing behaviors, with many opting for products that align with sustainable practices. As traditional cooking methods evolve, industry stakeholders must adapt their offerings to cater to diverse culinary influences, ensuring competitiveness in a rapidly changing market.

Local special circumstances: In Azerbaijan, the Edible Oils Market is shaped by the country's rich culinary traditions and diverse agricultural landscape. The availability of locally sourced ingredients, such as sunflower and cottonseed oils, influences consumer preferences and promotes a preference for domestic products. Additionally, cultural practices emphasize the use of oil in traditional dishes, driving demand for both premium and conventional oils. Regulatory changes aimed at improving food safety standards are also impacting market dynamics, as consumers increasingly seek transparency and quality assurance in their edible oil choices.

Underlying macroeconomic factors: The Edible Oils Market in Azerbaijan is significantly influenced by macroeconomic factors such as global commodity prices, local agricultural productivity, and trade policies. Fluctuations in the prices of raw materials like sunflower and cottonseed oil can directly impact production costs and consumer pricing. Moreover, national economic health, characterized by GDP growth and inflation rates, affects disposable income and consumer spending on food products. Additionally, fiscal policies aimed at supporting domestic agriculture enhance local oil production, while international trade agreements can open markets for imported oils, diversifying consumer choices. These factors collectively shape the dynamics and growth potential of the edible oils sector.

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.