Oils & Fats - EMEA

EMEA

Highlights

Revenue in the Oils & Fats market amounts to US$83.96bn in 2024. The market is expected to grow annually by 7.11% (CAGR 2024-2029).
In global comparison, most revenue is generated India (US$46bn in 2024).
In relation to total population figures, per person revenues of US$34.38 are generated in 2024.
In the Oils & Fats market, volume is expected to amount to 13.39bn kg by 2029. The Oils & Fats market is expected to show a volume growth of 3.4% in 2025.0.
The average volume per person in the Oils & Fats market is expected to amount to 4.8kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Oils & Fats Market in EMEA is witnessing minimal growth, influenced by factors such as shifting consumer preferences towards healthier options, regulatory changes, and increased competition among brands, impacting the demand for traditional fats and oils.

Customer preferences: Consumers in the EMEA region are increasingly gravitating towards plant-based oils and healthier fat alternatives, reflecting a broader trend of wellness and sustainability. This shift is fueled by a rising awareness of health issues linked to saturated fats and the environmental impact of traditional oil production. Additionally, younger demographics are prioritizing transparency and ethical sourcing, driving brands to innovate with clean-label products. As lifestyles evolve, convenience and versatility in cooking oils are becoming essential, influencing purchasing decisions significantly.

Trends in the market: In the EMEA region, the Oils & Fats market is experiencing a notable shift towards plant-based oils, driven by consumer demand for healthier options and sustainability. Many countries are seeing a surge in interest for oils derived from sources like avocado, olive, and coconut, which are perceived as healthier alternatives to traditional fats. Furthermore, innovations in clean-label products are becoming essential as consumers seek transparency in sourcing and production practices. This trend is significant as it compels industry stakeholders to adapt their offerings, prioritize ethical sourcing, and invest in marketing strategies that emphasize health benefits and environmental responsibility.

Local special circumstances: In the EMEA region, the Oils & Fats market is influenced by diverse geographical and cultural factors. For instance, Mediterranean countries like Spain and Italy favor olive oil due to traditional culinary practices, promoting its health benefits and quality. In contrast, Northern European nations are increasingly adopting rapeseed oil, driven by local agricultural production and sustainability initiatives. Regulatory frameworks, such as the EU's stringent labeling requirements, further shape consumer preferences, fostering transparency and encouraging the shift towards ethically sourced plant-based oils.

Underlying macroeconomic factors: The Oils & Fats market within the EMEA region is significantly influenced by macroeconomic factors such as global commodity prices, trade policies, and consumer spending patterns. Fluctuations in crude oil prices often impact the cost of production and transportation for oils, affecting market dynamics. Additionally, national economic health plays a crucial role; countries experiencing economic growth tend to see higher disposable incomes, leading to increased demand for premium oils and health-oriented products. Fiscal policies that promote sustainable agricultural practices further shape the market, encouraging investment in environmentally friendly production methods and driving consumer preference towards ethically sourced oils.

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.