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Edible Oils - Eastern Europe

Eastern Europe
  • Revenue in the Edible Oils market amounts to US$3.25bn in 2024. The market is expected to grow annually by 7.11% (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$13.68 are generated in 2024.
  • In the Edible Oils market, volume is expected to amount to 514.60m kg by 2029. The Edible Oils market is expected to show a volume growth of 2.6% in 2025.0.
  • The average volume per person in the Edible Oils market is expected to amount to 1.91kg 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.

In-Scope

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

Out-Of-Scope

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

Revenue

Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Sep 2024

Source: Statista Market Insights

Most recent update: Sep 2024

Source: Statista Market Insights

Volume

Most recent update: Sep 2024

Source: Statista Market Insights

Most recent update: Sep 2024

Source: Statista Market Insights

Price

Most recent update: Sep 2024

Source: Statista Market Insights

Sales Channels

Most recent update: Nov 2024

Source: Statista Market Insights

Global Comparison

Most recent update: Sep 2024

Source: Statista Market Insights

Analyst Opinion

The Edible Oils Market in Eastern Europe is experiencing minimal growth, influenced by factors such as fluctuating raw material prices, changing consumer preferences towards healthier alternatives, and economic challenges affecting purchasing power among consumers.

Customer preferences:
In Eastern Europe, consumers are increasingly prioritizing health and wellness, prompting a shift towards oils perceived as healthier, such as olive and sunflower oil. This trend is influenced by growing awareness of the benefits of unsaturated fats and a rise in plant-based diets. Additionally, younger demographics are more inclined to seek organic and sustainably sourced options, while traditional cooking practices are evolving to incorporate modern dietary preferences. This cultural shift towards health-conscious eating is reshaping the edible oils landscape significantly.

Trends in the market:
In Eastern Europe, the Edible Oils Market is experiencing a notable shift towards healthier oils, with consumers increasingly favoring options like olive and sunflower oil due to their perceived health benefits. The rise of plant-based diets is further driving this trend, as consumers become more aware of the advantages of unsaturated fats. Additionally, younger generations are prioritizing organic and sustainably sourced oils, reflecting a broader cultural emphasis on health and sustainability. This evolution is prompting industry stakeholders to innovate and adapt their product offerings to meet the changing preferences, presenting both challenges and opportunities for growth.

Local special circumstances:
In Eastern Europe, the Edible Oils Market is shaped by unique local factors, such as diverse agricultural practices and varying climatic conditions that influence oilseed production. Countries like Ukraine and Hungary benefit from fertile soil, fostering a strong sunflower oil industry. Culturally, traditional cooking methods favor specific oils, while regulatory frameworks encourage the adoption of healthier options through labeling initiatives. Additionally, the growing focus on food safety and sustainability resonates with consumers, driving demand for organic and locally sourced oils, thus impacting market dynamics significantly.

Underlying macroeconomic factors:
The Edible Oils Market in Eastern Europe is significantly influenced by macroeconomic factors such as regional agricultural productivity, global commodity prices, and trade policies. Economic stability in countries like Ukraine and Hungary, bolstered by strong agricultural outputs, supports the sunflower oil sector. Fluctuations in global oilseed prices directly impact local production costs, influencing consumer prices. Additionally, government initiatives promoting sustainable agricultural practices and food safety regulations enhance market growth. The rise of health-conscious consumer behavior and demand for organic products further shape market dynamics, as fiscal policies encourage investments in eco-friendly practices and local sourcing.

Methodology

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.

Key Market Indicators

Notes: Based on data from IMF, World Bank, UN and Eurostat

Most recent update: Sep 2024

Source: Statista Market Insights

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