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Oils & Fats - Lithuania

Lithuania
  • Revenue in the Oils & Fats market amounts to US$213.30m in 2024. The market is expected to grow annually by 5.00% (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$79.22 are generated in 2024.
  • In the Oils & Fats market, volume is expected to amount to 24.78m kg by 2029. The Oils & Fats market is expected to show a volume growth of 2.8% in 2025.0.
  • The average volume per person in the Oils & Fats market is expected to amount to 8.1kg in 2024.

Definition:

The Oils and Fats market covers all substances that are composed of fatty acids and used for cooking purposes or as an ingredient in many food products. These fats and oils can be obtained from plants or animals and are available in both liquid (oils) and solid (fats) form.

Structure:

The market consists of four different submarkets:

  • The Butter market covers all products that are defined as a high-fat milk product and contain a minimum of 80% fat. Its other ingredients are water, protein, and lactose.
  • The Margarine market covers all products that are made of vegetable oils and contains a minimum of 80% fat.
  • The Edible Oils market covers any type of oil that is extracted from plants and is used for cooking and food preparation.
  • The Other Oils & Fats market covers lard and other edible animal fats.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

For more information on the displayed data, click the info button on the right side of each box.

In-Scope

  • Butter
  • Margarine
  • Edible oils
  • Edible animal fats

Out-Of-Scope

  • Peanut Butter
  • Ghee
  • Butter oil
  • Out-of-home consumption
Oils & Fats: market data & analysis - Cover

Market Insights report

Oils & Fats: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Volume

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Price

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Sales Channels

    Most recent update: Nov 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Oils & Fats market in Lithuania is experiencing minimal growth, influenced by factors such as shifting consumer preferences towards healthier options, increasing production costs, and the competitive landscape of traditional and alternative fats in the food industry.

    Customer preferences:
    Consumers in Lithuania are showing a marked preference for plant-based oils and fats, reflecting a broader trend towards healthier eating and sustainability. This shift is influenced by a younger demographic increasingly concerned with environmental impact and personal health. Additionally, traditional cooking methods are being re-evaluated, with many opting for oils rich in omega-3 fatty acids and antioxidants. As awareness of food origins grows, local sourcing of oils is gaining traction, aligning with cultural values of supporting domestic agriculture and promoting wellness.

    Trends in the market:
    In Lithuania, the Oils & Fats market is experiencing a significant shift towards the adoption of plant-based oils, driven by a growing consumer focus on health and sustainability. This trend is particularly pronounced among younger consumers, who prioritize products that are environmentally friendly and rich in nutrients such as omega-3 fatty acids. Additionally, there is an increasing demand for locally sourced oils, reflecting a desire to support domestic agriculture and a commitment to wellness. Industry stakeholders must adapt to these changing preferences by innovating product lines and emphasizing transparency in sourcing to capture this evolving market.

    Local special circumstances:
    In Lithuania, the Oils & Fats market is shaped by its rich agricultural heritage and a strong emphasis on organic farming practices. The country's diverse climate supports the cultivation of various oilseed crops, enabling the production of high-quality, locally sourced oils. Cultural traditions favor natural and homemade food products, further driving the demand for artisanal oils. Regulatory measures promoting sustainability and health standards bolster this trend, encouraging consumers to seek transparent sourcing and eco-friendly options, thus differentiating Lithuania's market from others in the region.

    Underlying macroeconomic factors:
    The Oils & Fats market in Lithuania is significantly influenced by macroeconomic factors such as agricultural productivity, trade policies, and consumer spending patterns. The country's stable economic growth and low unemployment rates support higher disposable incomes, enabling consumers to invest in premium and organic oils. Additionally, Lithuania's membership in the European Union facilitates trade and access to international markets, enhancing the competitiveness of local oil producers. Fluctuations in global oilseed prices, driven by supply chain dynamics and climate conditions, also impact market pricing and availability. Furthermore, growing consumer awareness around health and sustainability reinforces demand for eco-friendly oil products, shaping market trends.

    Methodology

    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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    Oils & Fats: market data & analysis - BackgroundOils & Fats: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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