Key regions: Canada, India, Spain, Philippines, South Korea
The Oils & Fats market in Jordan is experiencing negligible growth, influenced by factors such as fluctuating commodity prices, changing consumer preferences toward healthier options, and economic conditions affecting purchasing power in the region.
Customer preferences: In Jordan, there is a notable shift in consumer preferences towards healthier oils and fats, driven by a growing awareness of health and wellness. Many consumers are now favoring alternatives such as olive oil and avocado oil, which are perceived as healthier options compared to traditional oils. Additionally, younger demographics are increasingly influenced by global health trends, leading to a rise in plant-based diets. This trend is further supported by cultural movements emphasizing natural ingredients, prompting brands to innovate and promote healthier, organic fat alternatives.
Trends in the market: In Jordan, the Oils & Fats market is experiencing a significant shift towards healthier options, with consumers increasingly opting for olive oil and avocado oil over traditional oils. This trend is largely driven by heightened health awareness and a growing preference for natural ingredients, especially among younger demographics influenced by global health movements. As plant-based diets gain popularity, brands are responding by innovating and promoting organic alternatives. This shift not only reflects changing consumer preferences but also presents industry stakeholders with opportunities to adapt, diversify product offerings, and align with health-conscious trends to capture market share.
Local special circumstances: In Jordan, the Oils & Fats market is shaped by its rich agricultural heritage and the country’s unique climate, which is particularly favorable for olive cultivation. This geographical advantage has positioned olive oil as a staple in local cuisine, deeply embedded in cultural practices and traditional dishes. Additionally, regulatory frameworks promoting organic farming are encouraging the production of healthier oils. Consumer preferences are further influenced by cultural values emphasizing natural ingredients, creating a distinct market dynamic that sets Jordan apart from other regions.
Underlying macroeconomic factors: The Oils & Fats market in Jordan is significantly influenced by macroeconomic factors such as global commodity prices, national economic stability, and trade policies. Fluctuations in global oil prices can directly impact the cost of imported oils, affecting local pricing dynamics. Jordan’s economic health, characterized by GDP growth and inflation rates, also plays a crucial role in consumer purchasing power and demand for premium oils. Furthermore, government initiatives promoting sustainable agriculture and organic production enhance market growth. As global trends shift towards healthier eating, Jordan's focus on olive oil aligns with these preferences, solidifying its position in both local and export markets.
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.
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