Key regions: South Korea, United Kingdom, United States, Philippines, China
The Edible Oils Market in the United States has seen negligible growth, influenced by factors such as market saturation, rising health concerns about fats, and a shift towards alternative cooking oils, which are impacting consumer preferences and purchasing decisions.
Customer preferences: Consumers in the United States are increasingly prioritizing health-conscious choices in their cooking oils, driven by a growing awareness of dietary fats and their associated health impacts. This trend is evident in the rising demand for oils such as avocado, coconut, and extra virgin olive oil, which are perceived as healthier alternatives. Additionally, younger demographics, influenced by social media and wellness trends, are favoring plant-based and organic oils. This shift reflects broader lifestyle changes, including a focus on sustainability and clean eating, reshaping purchasing behaviors within the edible oils market.
Trends in the market: In the United States, the Edible Oils Market is experiencing a notable shift towards health-oriented cooking oils, with consumers increasingly gravitating toward options like avocado, coconut, and extra virgin olive oil. This trend is propelled by heightened awareness of the nutritional profiles of fats, particularly among younger demographics influenced by social media. As the demand for plant-based and organic oils grows, industry stakeholders must adapt to these evolving preferences, emphasizing sustainability and transparency. This shift not only reflects changing consumer values but also presents opportunities for innovation and market differentiation within the sector.
Local special circumstances: In the United States, the Edible Oils Market is distinctly shaped by regional agricultural practices and consumer preferences influenced by diverse cultural backgrounds. For instance, the popularity of olive oil is particularly strong in Mediterranean-influenced areas, while coconut oil has gained traction in health-conscious communities. Additionally, stringent regulatory standards regarding food labeling and safety foster a demand for transparency, prompting brands to highlight sourcing and production methods. These local factors not only drive consumer choices but also create opportunities for regional producers to cater to specific tastes and values.
Underlying macroeconomic factors: The Edible Oils Market in the United States is significantly influenced by macroeconomic factors such as global commodity prices, trade policies, and national economic health. Fluctuations in crude oil prices and supply chain disruptions can directly impact the cost of edible oils, affecting consumer prices and demand. Additionally, fiscal policies that support agricultural subsidies and trade agreements play a crucial role in shaping the availability and pricing of various oils. Consumer preferences are also swayed by economic conditions, where higher disposable incomes may lead to increased spending on premium oils, while economic downturns can shift focus to more affordable options. Overall, these factors collectively shape market dynamics and consumer behavior in the edible oils sector.
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)
