Edible Oils - North Macedonia | Statista Market Forecast

Revenue in the Edible Oils market amounts to US$20.69m in 2024. The market is expected to grow annually by 4.48% (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$9.94 are generated in 2024.
In the Edible Oils market, volume is expected to amount to 3.50m kg by 2029. The Edible Oils market is expected to show a volume growth of 3.0% in 2025.0.
The average volume per person in the Edible Oils market is expected to amount to 1.51kg 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 North Macedonia is experiencing minimal growth, influenced by factors such as fluctuating raw material prices, changing consumer preferences towards healthier options, and increasing competition from alternative fat sources.

Customer preferences: Consumers in North Macedonia are increasingly gravitating towards healthier edible oil options, reflecting a broader trend of health-conscious living. This shift is influenced by rising awareness of nutritional benefits, prompting interest in oils rich in omega-3 and antioxidants. Additionally, younger demographics are favoring plant-based and organic products, driven by sustainability concerns and lifestyle changes. Cultural preferences are also evolving, with traditional cooking methods being adapted to include lighter oils, further diversifying the market and spurring innovation among local producers.

Trends in the market: In North Macedonia, the Edible Oils Market is experiencing a notable shift towards healthier options, with consumers increasingly opting for oils that boast nutritional benefits, such as those high in omega-3 fatty acids and antioxidants. This trend is particularly prominent among younger consumers who prioritize plant-based and organic products, driven by concerns over sustainability and health. Furthermore, traditional cooking practices are evolving, incorporating lighter oils that enhance both flavor and healthiness. These changes are prompting local producers to innovate, creating opportunities for new product development and market differentiation, ultimately reshaping the competitive landscape.

Local special circumstances: In North Macedonia, the Edible Oils Market is shaped by a blend of cultural heritage and modern health trends. The country's Mediterranean climate fosters the cultivation of diverse oil-producing crops, such as olives and sunflowers, which are integral to traditional cuisine. Additionally, the rise of health consciousness is influencing consumers to seek oils rich in omega-3s and antioxidants. Regulatory support for organic farming is further encouraging local producers to innovate, leading to a market increasingly focused on sustainability and nutritional value, differentiating it from other regions.

Underlying macroeconomic factors: The Edible Oils Market in North Macedonia is impacted by macroeconomic factors such as agricultural productivity, trade policies, and consumer spending trends. The nation's focus on enhancing agricultural techniques and sustainability practices is fostering growth in the production of quality oils. Moreover, fluctuations in global oil prices and trade agreements influence local pricing and availability. With rising disposable incomes, consumers are increasingly inclined to purchase premium, health-oriented oils. Additionally, government incentives for organic farming are promoting innovation among producers, aligning with global trends toward health and wellness that further enhance 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.