Oils & Fats - EU-27

EU-27

Highlights

Revenue in the Oils & Fats market amounts to US$33.82bn in 2024. The market is expected to grow annually by 3.80% (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$75.57 are generated in 2024.
In the Oils & Fats market, volume is expected to amount to 4.85bn kg by 2029. The Oils & Fats market is expected to show a volume growth of 1.9% in 2025.0.
The average volume per person in the Oils & Fats market is expected to amount to 10.1kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Oils & Fats Market within The Food market in EU-27 is witnessing stagnant growth, influenced by shifting consumer preferences towards healthier options, regulatory changes, and competition from plant-based alternatives that challenge traditional products.

Customer preferences: Consumers are increasingly gravitating towards oils and fats that align with their health-conscious lifestyles, leading to a rise in demand for products rich in omega-3s and plant-based oils. This shift is influenced by a growing awareness of the benefits of Mediterranean and Asian diets, which emphasize healthy fats. Additionally, younger demographics are favoring sustainable and ethically sourced options, prompting brands to innovate with organic and non-GMO labels, reflecting a broader cultural shift towards wellness and environmental responsibility in food choices.

Trends in the market: In the EU-27, the Oils & Fats Market is experiencing a notable shift towards healthier, plant-based options, with consumers increasingly favoring oils rich in omega-3 fatty acids. This trend is spurred by rising health awareness and the adoption of Mediterranean and Asian dietary principles. Additionally, younger consumers prioritize sustainability, driving demand for ethically sourced and organic products. As brands innovate to meet these preferences, industry stakeholders must adapt their offerings and marketing strategies to align with the evolving values of health-conscious and environmentally aware consumers.

Local special circumstances: In the EU-27, the Oils & Fats Market is shaped by diverse geographical and cultural influences, with Mediterranean countries leading the way in olive oil consumption due to their culinary traditions. Northern European nations, conversely, are gravitating towards rapeseed oil, reflecting local agricultural practices. Regulatory frameworks, such as stringent labeling laws and health guidelines, further drive innovation towards organic and sustainably sourced products. This multifaceted market landscape encourages brands to tailor their offerings, addressing regional preferences while promoting health and environmental sustainability.

Underlying macroeconomic factors: The Oils & Fats Market within the EU-27 is significantly influenced by macroeconomic factors such as commodity prices, trade dynamics, and consumer spending patterns. Fluctuations in global oilseed production and prices directly impact the cost of oils, affecting both producers and consumers. National economic health, characterized by GDP growth and employment rates, plays a pivotal role in shaping consumer purchasing power and preferences for premium or organic products. Additionally, fiscal policies promoting sustainable agriculture and environmental initiatives drive investment in innovative oils and fats, pushing brands to adapt to market changes while meeting evolving consumer demands for health-conscious and environmentally friendly options.

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.