Edible Oils - Brunei Darussalam | Statista Market Forecast

Revenue in the Edible Oils market amounts to US$1.41m in 2024. The market is expected to grow annually by 5.65% (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$3.09 are generated in 2024.
In the Edible Oils market, volume is expected to amount to 347.20k kg by 2029. The Edible Oils market is expected to show a volume growth of 4.5% in 2025.0.
The average volume per person in the Edible Oils market is expected to amount to 0.62kg 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 Brunei Darussalam has seen negligible growth, influenced by factors such as limited consumer demand, competition from imported products, and a shift toward healthier alternatives that reduce oil consumption among the population.

Customer preferences: In Brunei Darussalam, consumer preferences in the Edible Oils Market are shifting towards healthier and more sustainable options, reflecting a growing awareness of health and wellness. Younger demographics are increasingly favoring oils with higher nutritional profiles, such as olive and avocado oil, driven by a desire for heart-healthy alternatives. Additionally, cultural influences promoting traditional cooking methods are leading to a resurgence in the use of less processed oils. This trend is further supported by a rising interest in organic and locally sourced products among environmentally conscious consumers.

Trends in the market: In Brunei Darussalam, the Edible Oils Market is experiencing a notable shift towards healthier and more sustainable options, with consumers increasingly favoring oils like olive and avocado due to their perceived health benefits. This trend is particularly pronounced among younger demographics, who are becoming more health-conscious and interested in heart-healthy choices. Additionally, traditional cooking methods are encouraging a revival of less processed oils, reflecting cultural values. Industry stakeholders must adapt to these evolving preferences by focusing on organic, locally sourced products to cater to the growing demand for sustainability and health awareness.

Local special circumstances: In Brunei Darussalam, the Edible Oils Market is shaped by the nation’s unique combination of cultural heritage and environmental consciousness. The predominantly Malay culture places a high value on traditional cooking methods, leading to a preference for locally sourced oils like palm and coconut, which are integral to local cuisine. Additionally, Brunei's commitment to sustainability drives consumer interest in organic and eco-friendly products. Regulatory support for healthy eating initiatives further influences market dynamics, encouraging the adoption of healthier oils among the population.

Underlying macroeconomic factors: The Edible Oils Market in Brunei Darussalam is influenced by several macroeconomic factors, including global commodity prices, national economic stability, and trade policies. Fluctuations in the prices of palm and coconut oil on the global market can directly impact local pricing and availability, affecting consumer purchasing decisions. Moreover, Brunei's robust economy, supported by oil and gas revenues, allows for higher disposable incomes, fostering demand for premium and organic oils. Fiscal policies aimed at promoting sustainable agriculture further bolster the market for eco-friendly products. Additionally, the increasing focus on health and nutrition among consumers is reshaping preferences towards healthier oil options, aligning with global trends towards wellness.

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.