Key regions: Philippines, China, United States, South Korea, India
The Margarine Market within the Oils & Fats sector in Jordan is experiencing minimal growth, influenced by factors such as shifting consumer preferences, competition from healthier alternatives, and economic challenges affecting purchasing power.
Customer preferences: Consumers in Jordan are increasingly prioritizing health-conscious choices, leading to a decline in traditional margarine consumption. This shift is reflective of a growing awareness of nutritional labels and ingredient transparency, especially among younger demographics who favor natural and organic options. Moreover, urbanization and busy lifestyles are driving demand for convenient, ready-to-use spreads that align with their dietary preferences. Additionally, cultural influences promote the use of olive oil and other healthier fats, further challenging the margarine market's growth.
Trends in the market: In Jordan, the Margarine Market within the Oils & Fats sector is experiencing a notable decline as consumers increasingly shift towards healthier alternatives. This trend is driven by heightened health awareness and a preference for natural ingredients, particularly among younger generations. Urban lifestyles are also fueling the demand for convenient spreads that align with cleaner eating habits. Furthermore, the cultural inclination towards using olive oil and other wholesome fats poses significant challenges for traditional margarine products. As a result, industry stakeholders must adapt by innovating and diversifying their offerings to cater to evolving consumer preferences.
Local special circumstances: In Jordan, the Margarine Market within the Oils & Fats sector is influenced by several unique local factors that shape its dynamics. The country's abundant olive oil production fosters a cultural preference for natural, healthier fats, leading many consumers to favor olive oil over margarine. Additionally, regulatory initiatives promoting healthier eating habits have further encouraged this shift. Urbanization has increased demand for convenient spreads, but the strong heritage of traditional cooking with wholesome ingredients challenges margarine's market positioning. Industry players must navigate these complexities to remain competitive.
Underlying macroeconomic factors: The Margarine Market within the Oils & Fats sector in Jordan is significantly influenced by macroeconomic factors such as national economic health, consumer purchasing power, and global commodity prices. Jordan’s economy, characterized by limited natural resources and reliance on imports, affects the cost of raw materials for margarine production. Fluctuations in global oil prices directly impact production costs, leading to price sensitivity among consumers. Additionally, fiscal policies aimed at enhancing food security and promoting local products can shift preferences towards domestically produced alternatives. As urbanization continues, the demand for convenient food options grows, yet economic constraints may limit discretionary spending on margarine, challenging market expansion.
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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