Other Oils & Fats - Croatia | Statista Market Forecast

The Other Oils & Fats Market within The Food market in Croatia has seen negligible growth, influenced by factors such as market saturation, limited consumer demand for alternative oils, and the strong preference for traditional fats among local populations.

Customer preferences: In Croatia, the Other Oils & Fats Market within The Food market is witnessing a gradual shift towards health-consciousness among consumers, spurred by rising awareness of nutrition and wellness. Younger demographics, particularly millennials and Gen Z, are increasingly exploring plant-based and alternative oils, motivated by sustainability and ethical considerations. Additionally, the growing popularity of Mediterranean diets has led to a heightened interest in olive oil and other heart-healthy fats, challenging the long-standing preference for traditional animal fats.

Trends in the market: In Croatia, the Other Oils & Fats Market within The Food market is experiencing a notable transition towards plant-based oils, driven by increasing health awareness among consumers. The rise of veganism and flexitarian diets is prompting a shift from traditional fats to oils such as avocado and coconut, highlighting a preference for functional and nutrient-rich options. Moreover, the emphasis on sustainability is fostering interest in locally sourced oils, particularly olive oil, reinforcing its status as a staple in health-conscious diets. This evolution presents significant opportunities for industry stakeholders to innovate and align their product offerings with consumer preferences, ensuring competitive advantage in a rapidly changing market landscape.

Local special circumstances: In Croatia, the Other Oils & Fats Market within The Food market is uniquely shaped by its Mediterranean climate, which supports the cultivation of high-quality olives, making olive oil a cultural cornerstone. Additionally, the nation’s historical emphasis on traditional cuisine fosters a strong consumer preference for local products. Regulatory support for organic farming practices further encourages the production of plant-based oils, aligning with the rising health consciousness. These local factors create a distinct market dynamic, prioritizing quality and sustainability while driving innovation in health-oriented oil options.

Underlying macroeconomic factors: The Other Oils & Fats Market in Croatia is significantly influenced by overarching macroeconomic factors such as national economic health, agricultural productivity, and global commodity prices. Croatia's economic stability, bolstered by EU membership, fosters consumer confidence and spending on quality food products. Fluctuations in global oil prices and supply chain disruptions can impact local production costs, affecting retail prices and consumer choices. Moreover, fiscal policies that support sustainable agriculture and incentivize local production of oils, particularly olive oil, are essential. The rising global demand for healthy fats further amplifies opportunities for Croatian producers, aligning with both national health trends and international market preferences.

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.