Other Oils & Fats - Bulgaria | Statista Market Forecast

Revenue in the Other Oils & Fats market amounts to US$67.12m in 2024. The market is expected to grow annually by 3.98% (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$10.14 are generated in 2024.
In the Other Oils & Fats market, volume is expected to amount to 8.03m kg by 2029. The Other Oils & Fats market is expected to show a volume growth of 2.2% 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 Bulgaria is experiencing negligible growth, influenced by factors such as changing consumer preferences, competition from healthier alternatives, and economic challenges affecting purchasing power and spending on non-essential food items.

Customer preferences: Consumers in Bulgaria are increasingly prioritizing health and wellness, resulting in a growing preference for oils perceived as healthier, such as olive and avocado oil. This shift is influenced by a rising awareness of nutrition and the impact of dietary choices on overall health. Additionally, demographic changes, including an aging population and a more health-conscious younger generation, are driving demand for organic and natural products. Lifestyle trends emphasizing clean eating and sustainability further encourage consumers to seek alternative fats, challenging traditional oil options.

Trends in the market: In Bulgaria, the Other Oils & Fats Market is experiencing a significant shift towards healthier alternatives, particularly olive and avocado oils, driven by heightened consumer awareness of nutrition and health impacts. The aging population and health-conscious younger demographics are increasingly favoring organic and natural products. This trend aligns with lifestyle movements prioritizing clean eating and sustainability, compelling industry stakeholders to innovate and adapt their offerings. The demand for alternative fats challenges traditional oil options, prompting businesses to diversify product lines and enhance marketing strategies to capture this evolving consumer base.

Local special circumstances: In Bulgaria, the Other Oils & Fats Market is shaped by its rich agricultural heritage and Mediterranean influences, which promote the use of local oils such as sunflower and rapeseed. Cultural traditions emphasize home-cooked meals and natural ingredients, enhancing the appeal of organic offerings. Additionally, EU regulations on food quality and labeling empower consumers to make informed choices, fostering a demand for transparency in sourcing. This unique blend of cultural appreciation for healthful eating and regulatory support drives innovation and shapes market dynamics, encouraging the growth of premium and specialty oils.

Underlying macroeconomic factors: The Other Oils & Fats Market in Bulgaria is significantly influenced by macroeconomic factors such as agricultural productivity, trade policies, and consumer spending patterns. The national economy's health, marked by GDP growth and stable inflation rates, supports increased household incomes, which enhances demand for higher-quality oils. Moreover, global trends toward sustainable and organic products align with local consumer preferences, boosting the market for premium oils. Additionally, EU agricultural policies and subsidies encourage the production of local oilseeds, fostering innovation and competitiveness in the sector. These factors collectively shape a dynamic environment for the Other Oils & Fats Market in Bulgaria.

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.