Edible Oils - Bosnia and Herzegovina

Revenue in the Edible Oils market amounts to US$22.60m in 2024. The market is expected to grow annually by 3.68% (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$7.08 are generated in 2024.
In the Edible Oils market, volume is expected to amount to 3.48m kg by 2029. The Edible Oils market is expected to show a volume growth of 1.1% in 2025.0.
The average volume per person in the Edible Oils market is expected to amount to 1.01kg 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.

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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 Bosnia and Herzegovina is experiencing negligible growth, influenced by factors such as limited consumer demand, economic challenges, and a preference for traditional cooking methods over processed alternatives.

Customer preferences: Consumers in Bosnia and Herzegovina are gradually shifting towards healthier edible oil options, reflecting a growing awareness of nutrition and wellness. This trend is fueled by an influx of information on the benefits of oils such as olive and sunflower, which are perceived as healthier alternatives to traditional fats. Additionally, younger demographics are increasingly experimenting with diverse cooking styles, incorporating international cuisines that utilize various oils. This evolving lifestyle reflects a blend of cultural appreciation and health consciousness, subtly impacting purchasing habits in the edible oils market.

Trends in the market: In Bosnia and Herzegovina, the Edible Oils Market is experiencing a notable shift towards healthier oil options, particularly olive and sunflower oils, as consumers become more health-conscious and informed about nutritional benefits. This trend is further enhanced by the increasing popularity of international cuisines, with younger consumers experimenting with diverse cooking methods that emphasize these oils. As a result, the demand for premium and organic oils is on the rise, prompting industry stakeholders to innovate and diversify their product offerings to meet evolving consumer preferences and capitalize on this significant market transformation.

Local special circumstances: In Bosnia and Herzegovina, the Edible Oils Market is influenced by the country's rich culinary traditions that prioritize local ingredients, leading to a strong preference for traditional cooking oils like sunflower and pumpkin seed oils. The diverse geography, encompassing fertile plains and mountainous regions, supports the cultivation of various oil-producing crops, enhancing local supply chains. Additionally, regulatory measures aimed at promoting food safety standards and organic farming practices are encouraging producers to innovate, aligning with consumers’ growing demand for healthier, environmentally friendly options.

Underlying macroeconomic factors: The Edible Oils Market in Bosnia and Herzegovina is significantly shaped by macroeconomic factors, including national economic stability, trade policies, and global commodity prices. The country's economic recovery post-conflict has led to increased disposable incomes, allowing consumers to invest in higher-quality edible oils. Moreover, fluctuations in global oil prices directly impact local production costs and consumer pricing. Trade agreements with neighboring countries facilitate the import of diverse oil varieties, enhancing market competition. Additionally, government incentives for sustainable farming and local production are fostering innovation, aligning with consumers' preferences for organic and health-conscious 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.