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:
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.
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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
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
The Oils & Fats market in Northern Europe is experiencing negligible growth due to shifting consumer preferences towards healthier alternatives, increased scrutiny on saturated fats, and rising competition from plant-based options, which are reshaping demand patterns across the sector.
Customer preferences: Consumers in Northern Europe are gravitating towards cleaner labels and transparency in food sourcing, driving demand for oils and fats labeled as organic or sustainably sourced. The rise of flexitarian diets, especially among younger demographics, is prompting a shift towards plant-based oils, such as avocado and olive oil, over traditional animal fats. Additionally, heightened awareness of health and wellness is fostering preferences for products low in saturated fats, aligning with broader lifestyle changes that prioritize nutrition and sustainability.
Trends in the market: In Northern Europe, the Oils & Fats market is experiencing a significant shift towards health-conscious and environmentally sustainable products. Consumers are increasingly favoring oils labeled as organic or sustainably sourced, reflecting a demand for cleaner labels and transparency in food sourcing. There is a notable rise in the adoption of plant-based oils like avocado and olive oil, particularly among younger, flexitarian consumers. This trend aligns with a broader focus on reducing saturated fats and emphasizes the importance of nutrition and sustainability, presenting both challenges and opportunities for industry stakeholders to innovate and adapt their offerings.
Local special circumstances: In Northern Europe, the Oils & Fats market is uniquely influenced by a strong emphasis on sustainability and local sourcing, driven by both cultural values and regulatory frameworks. Consumers are increasingly concerned about environmental impacts, leading to preferences for oils that are sustainably produced, such as rapeseed oil from local farms. Additionally, stringent EU regulations on labeling and food safety compel manufacturers to adopt cleaner, more transparent practices. This culturally ingrained commitment to health and sustainability creates a distinctive market dynamic, fostering innovation while challenging traditional production methods.
Underlying macroeconomic factors: The Oils & Fats market in Northern Europe is significantly shaped by macroeconomic factors such as global commodity prices, national economic stability, and consumer spending patterns. Fluctuations in oilseed prices, driven by international supply chains and climate impacts, directly affect local production costs and retail prices. Furthermore, strong national economies with robust consumer confidence encourage spending on premium, sustainable oils, while fiscal policies promoting green initiatives stimulate investments in eco-friendly production methods. Additionally, the increasing focus on health and wellness among consumers is pushing manufacturers to innovate, aligning with broader economic trends towards sustainability and quality.
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights