Key regions: South Korea, United Kingdom, United States, Philippines, China
The Edible Oils Market in Central & Western Europe is experiencing negligible growth, influenced by factors such as saturated market conditions, health concerns over fat consumption, and increasing competition from alternative cooking products and plant-based oils.
Customer preferences: Consumers in Central & Western Europe are increasingly prioritizing health and sustainability in their cooking oil choices, prompting a shift towards organic and cold-pressed options. This trend is fueled by a growing awareness of the benefits of plant-based diets, leading to heightened interest in oils derived from nuts, seeds, and avocados. Additionally, younger demographics are more inclined to explore diverse culinary practices, embracing oils that offer unique flavors and health benefits, thereby reshaping the traditional edible oils landscape.
Trends in the market: In Central and Western Europe, the Edible Oils Market is experiencing a significant shift towards health-conscious and sustainable choices, with consumers increasingly favoring organic and cold-pressed oils. This transition reflects a broader trend towards plant-based diets, as oils from nuts, seeds, and avocados gain popularity for their nutritional benefits. The younger generation is particularly driving this change, seeking unique flavors and culinary experiences. As a result, industry stakeholders must adapt their product offerings and marketing strategies to align with these evolving consumer preferences, emphasizing transparency, quality, and sustainability.
Local special circumstances: In Central and Western Europe, the Edible Oils Market is influenced by a rich tapestry of local factors, including diverse culinary traditions and stringent food safety regulations. Countries like Italy and Spain prioritize olive oil due to their Mediterranean heritage, while Germany and the Netherlands are gravitating towards innovative blends that incorporate various seeds and nuts. Additionally, EU regulations promoting organic farming and sustainability are shaping consumer expectations, fostering a demand for traceable and ethically sourced oils. This unique interplay of culture, geography, and regulation drives market dynamics, necessitating adaptive strategies from industry players.
Underlying macroeconomic factors: The Edible Oils Market in Central and Western Europe is significantly influenced by macroeconomic factors such as global commodity prices, trade policies, and national economic stability. Fluctuations in the prices of raw materials, like oilseeds and nuts, directly impact production costs and retail prices, shaping consumer purchasing behavior. Furthermore, national economic health, characterized by GDP growth and employment rates, plays a crucial role in consumer spending power. Countries with favorable fiscal policies and strong agricultural support systems tend to see increased investments in sustainable practices, driving innovation and enhancing market competitiveness. As consumers become more health-conscious and environmentally aware, the demand for premium and organic oils is likely to rise, further influencing market dynamics.
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)
