Key regions: South Korea, United Kingdom, United States, Philippines, China
The Edible Oils Market within the Oils & Fats sector in Jordan is experiencing negligible growth, influenced by factors such as limited consumer demand, economic constraints, and competition from alternative cooking oils, affecting overall market expansion.
Customer preferences: In Jordan, consumer preferences in the Edible Oils Market are shifting towards healthier options, reflecting a growing awareness of nutrition and wellness. Younger demographics are increasingly opting for oils rich in omega-3 fatty acids and organic certifications, influenced by global health trends. Additionally, the rising popularity of Mediterranean diets has led to a preference for olive oil over traditional cooking oils. This change is further propelled by social media, where culinary influencers promote healthier cooking practices, driving demand for premium and specialty oils.
Trends in the market: In Jordan, the Edible Oils Market is experiencing a notable shift towards healthier alternatives, with consumers increasingly favoring oils that are high in omega-3 fatty acids and carry organic certifications. This trend is significantly influenced by the rise of the Mediterranean diet, where olive oil is preferred for its health benefits and culinary versatility. Social media plays a pivotal role, as culinary influencers advocate for healthier cooking methods, thus elevating the demand for premium and specialty oils. Industry stakeholders must adapt to these preferences, focusing on product innovation and marketing strategies that highlight health benefits and quality to remain competitive in this evolving market landscape.
Local special circumstances: In Jordan, the Edible Oils Market is shaped by its unique geographical and cultural context, where olive oil holds a prominent place in traditional cuisine. The country's Mediterranean climate is conducive to olive cultivation, fostering a strong domestic supply. Additionally, cultural practices emphasize the use of local, natural products, further driving demand for high-quality, organic oils. Regulatory frameworks promoting food safety and quality standards also influence market dynamics, encouraging producers to adopt sustainable practices and innovate in product offerings to meet consumer expectations for health and authenticity.
Underlying macroeconomic factors: The Edible Oils Market in Jordan is significantly influenced by macroeconomic factors such as global oil prices, domestic agricultural productivity, and trade policies. Fluctuations in international crude oil prices can directly affect the cost of production and transportation for edible oils, impacting retail prices locally. Furthermore, the health of Jordan's economy, characterized by GDP growth and inflation rates, influences consumer spending power and, consequently, demand for premium oils like olive oil. Fiscal policies that support agricultural development and sustainability initiatives also play a crucial role, enabling producers to enhance quality and innovate, aligning with consumer preferences for health-conscious and authentic 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.
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