Other Oils & Fats - Brunei Darussalam

Revenue in the Other Oils & Fats market amounts to US$10.35m in 2024. The market is expected to grow annually by 2.15% (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$22.71 are generated in 2024.
In the Other Oils & Fats market, volume is expected to amount to 1.37m kg by 2029. The Other Oils & Fats market is expected to show a volume growth of 1.1% in 2025.0.
The average volume per person in the Other Oils & Fats market is expected to amount to 2.9kg 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 Brunei Darussalam has been experiencing negligible growth, influenced by factors such as limited consumer demand, preference for traditional cooking oils, and economic constraints impacting purchasing power within the region.

Customer preferences: Consumers in Brunei Darussalam are beginning to show a growing interest in healthier cooking alternatives, driven by increasing health consciousness and awareness of dietary impacts. This shift is influenced by younger demographics prioritizing nutrition and wellness, leading to a gradual acceptance of oils such as olive oil and avocado oil. Additionally, the rise of social media and cooking shows has sparked curiosity about diverse culinary practices, encouraging experimentation with various oils and fats that align with modern lifestyles, even amidst traditional preferences.

Trends in the market: In Brunei Darussalam, the Other Oils & Fats Market is experiencing a notable shift towards healthier cooking alternatives, with rising interest in oils like olive and avocado oil. This trend is largely driven by younger consumers who prioritize nutrition and wellness, influenced by social media and cooking shows promoting diverse culinary practices. As health consciousness grows, traditional preferences are gradually evolving, encouraging industry stakeholders to innovate product offerings and marketing strategies that cater to this changing landscape and capitalize on the burgeoning demand for healthier options.

Local special circumstances: In Brunei Darussalam, the Other Oils & Fats Market is shaped by its unique cultural emphasis on traditional cuisine, which often favors palm oil, yet is progressively embracing healthier alternatives amidst rising health awareness. The nation's geographical location also facilitates access to a variety of imported oils, such as olive and avocado oil, appealing to the modern consumer's palate. Additionally, government initiatives promoting healthy eating habits are influencing purchasing decisions, encouraging local producers to adapt their offerings and meet the growing demand for nutritious cooking options.

Underlying macroeconomic factors: The Other Oils & Fats Market in Brunei Darussalam is significantly influenced by macroeconomic factors such as global commodity prices, national economic stability, and consumer spending patterns. Fluctuations in palm oil prices due to international demand impact local pricing structures, while the country's economic health, reflected in GDP growth and inflation rates, affects consumer purchasing power. Fiscal policies aimed at promoting local agriculture and healthy eating initiatives encourage investment in alternative oil production. Additionally, rising health consciousness among consumers drives a shift towards premium oils, aligning market trends with global health movements and sustainability efforts.

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.