Other Oils & Fats - Bosnia and Herzegovina

Revenue in the Other Oils & Fats market amounts to US$33.10m in 2024. The market is expected to grow annually by 8.12% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$2bn in 2024).
In relation to total population figures, per person revenues of US$10.36 are generated in 2024.
In the Other Oils & Fats market, volume is expected to amount to 4.84m kg by 2029. The Other Oils & Fats market is expected to show a volume growth of 6.2% in 2025.0.
The average volume per person in the Other Oils & Fats market is expected to amount to 1.1kg in 2024.

Definition:

The Other Oils & Fats market covers lard and other edible animal fats, such as fat from cattle, buffaloes, sheep, goats, poultry, fats and fish oils.

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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Lard
Other animal fats
Duck and chicken fats
Fish oils, liver fish oils, fish fats

Butter
Margarine
Vegetable oils
Olive oils
Out-of-home consumption

The Other Oils & Fats Market in Bosnia and Herzegovina is experiencing minimal growth, influenced by factors such as fluctuating consumer preferences, economic uncertainties, and increasing competition from alternative products and healthier options in the food sector.

Customer preferences: Consumers in Bosnia and Herzegovina are shifting towards healthier cooking oils and fats, driven by a growing awareness of nutritional values and wellness. This trend is evident in the rising popularity of olive oil and avocado oil, as individuals increasingly prioritize heart health and weight management. Additionally, younger demographics, influenced by social media and global culinary trends, are experimenting with diverse oils while traditional preferences are gradually evolving. This cultural shift is further supported by increased availability of organic and specialty products in the market.

Trends in the market: In Bosnia and Herzegovina, the Other Oils & Fats market is experiencing a notable shift towards healthier options, with consumers increasingly opting for oils like olive and avocado oil. This trend is fueled by heightened awareness of health benefits, particularly concerning heart health and weight management. Younger consumers, influenced by social media and international culinary trends, are diversifying their oil choices, moving away from traditional fats. The rise of organic and specialty oils is reshaping the market landscape, presenting significant opportunities for producers and retailers to innovate and cater to evolving consumer preferences.

Local special circumstances: In Bosnia and Herzegovina, the Other Oils & Fats market is shaped by the region's rich agricultural heritage and diverse culinary traditions. The emphasis on local produce fosters a growing demand for traditional oils like pumpkin seed oil, reflecting cultural preferences. Additionally, regulatory support for organic farming is encouraging the production of healthier oil alternatives. The country's scenic landscapes promote eco-tourism, which further influences consumer choices toward sustainable and locally-sourced oils, aligning with global health trends while honoring local traditions.

Underlying macroeconomic factors: The Other Oils & Fats market in Bosnia and Herzegovina is significantly influenced by macroeconomic factors such as agricultural productivity, trade policies, and consumer spending patterns. The country's economic development, characterized by gradual growth and stability, enhances disposable incomes, driving demand for higher-quality and specialty oils. Additionally, government initiatives promoting organic farming and sustainable practices are vital, as they align with global trends toward healthier and environmentally-friendly products. Fluctuations in global commodity prices and regional trade agreements also play a critical role in shaping market dynamics, affecting both supply chains and pricing strategies for local producers.

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.