Oils & Fats - Finland

Finland

Highlights

Revenue in the Oils & Fats market amounts to US$281.20m in 2024. The market is expected to grow annually by 3.00% (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$50.66 are generated in 2024.
In the Oils & Fats market, volume is expected to amount to 51.77m kg by 2029. The Oils & Fats market is expected to show a volume growth of 1.3% in 2025.0.
The average volume per person in the Oils & Fats market is expected to amount to 8.8kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Oils & Fats Market in Finland is witnessing negligible growth, influenced by shifting consumer preferences towards healthier alternatives, increasing concerns over trans fats, and a growing trend of plant-based diets, alongside competition from imported products.

Customer preferences: In Finland, consumers are increasingly prioritizing health and sustainability in their dietary choices, leading to a notable shift towards oils and fats that are organic, non-GMO, and ethically sourced. There is a growing interest in plant-based oils, such as flaxseed and rapeseed, reflecting the nation's commitment to environmental consciousness. Furthermore, younger demographics are more inclined to explore diverse culinary experiences, driving demand for innovative fat alternatives that align with their health-focused lifestyles and ethical values.

Trends in the market: In Finland, the Oils & Fats Market is experiencing a significant shift towards health-conscious and sustainable options, with consumers increasingly favoring organic and non-GMO products. The demand for plant-based oils, particularly flaxseed and rapeseed, is on the rise, reflecting a broader environmental commitment. Additionally, younger consumers are exploring innovative fat alternatives that align with their ethical values. This trend not only highlights the importance of health and sustainability but also presents opportunities for industry stakeholders to innovate and cater to evolving consumer preferences, ultimately fostering a more responsible food landscape.

Local special circumstances: In Finland, the Oils & Fats Market is shaped by its unique geography and cultural values, which emphasize sustainability and environmental stewardship. The country’s abundant natural resources support the cultivation of local oilseeds, such as rapeseed, fostering a strong demand for domestic products. Additionally, stringent EU regulations on food quality and labeling enhance consumer trust in organic and non-GMO options. Finnish consumers prioritize health and environmental impact, driving innovation in plant-based alternatives and creating a market that aligns with their ethical beliefs.

Underlying macroeconomic factors: The Oils & Fats Market in Finland is significantly influenced by macroeconomic factors including global commodity prices, trade dynamics, and national economic policies. Fluctuations in the prices of raw materials, like oilseeds, can impact production costs and consumer pricing, affecting market performance. Finland's strong emphasis on sustainability aligns with global trends favoring organic and eco-friendly products, creating opportunities for local producers. Furthermore, Finland's stable economic environment, characterized by low unemployment and a strong welfare system, supports consumer spending on high-quality food products, driving demand for premium oils and fats.

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.