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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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
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
The Edible Oils Market within the Oils & Fats sector in Northern Europe has been experiencing negligible growth, influenced by factors such as market saturation, shifting consumer preferences toward healthier options, and increasing competition from alternative fats and oils.
Customer preferences: Consumers in Northern Europe are increasingly prioritizing health and sustainability, driving a shift toward plant-based and organic edible oils. This trend is influenced by a growing awareness of environmental issues and the health benefits associated with products like olive oil, avocado oil, and flaxseed oil. Additionally, younger demographics are gravitating towards brands that emphasize ethical sourcing and transparency. The rise of veganism and flexitarian diets further accelerates the demand for innovative oil blends that cater to health-conscious and environmentally aware consumers.
Trends in the market: In Northern Europe, the Edible Oils Market is experiencing a significant shift towards health-focused and sustainable products, with consumers increasingly favoring plant-based and organic options. The rising popularity of oils such as olive, avocado, and flaxseed reflects a heightened awareness of both health benefits and environmental impact. Younger consumers are particularly drawn to brands that advocate for ethical sourcing and transparency. This growing inclination towards veganism and flexitarian diets is driving demand for innovative oil blends, compelling industry stakeholders to adapt their offerings and marketing strategies to align with these evolving consumer preferences.
Local special circumstances: In Northern Europe, the Edible Oils Market is shaped by a strong emphasis on sustainability and health, influenced by the region's commitment to environmental conservation and robust regulatory frameworks. Local factors include stringent food safety and labeling regulations that promote transparency, encouraging brands to emphasize organic and ethically sourced oils. Additionally, cultural preferences for Mediterranean and Nordic diets drive demand for oils rich in omega-3s and antioxidants, fostering innovation in plant-based blends. This unique landscape compels industry players to adapt to the discerning tastes of health-conscious consumers.
Underlying macroeconomic factors: The Edible Oils Market in Northern Europe is significantly influenced by macroeconomic factors such as rising consumer awareness regarding health and sustainability, as well as the region's strong economic performance. The robust national economies, characterized by low unemployment rates and high disposable incomes, enable consumers to prioritize premium, ethically sourced products. Furthermore, fiscal policies promoting green initiatives and agricultural sustainability encourage investments in innovative oil production methods. Global trends toward plant-based diets and the increasing focus on reducing carbon footprints also bolster demand for healthier, omega-rich oils, shaping market dynamics and driving growth.
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights