Key regions: United States, Russia, Canada, China, United Kingdom
The Other Oils & Fats Market within the Oils & Fats sector in EMEA is experiencing minimal growth, influenced by factors such as saturated competition, shifting consumer preferences toward healthier options, and economic fluctuations affecting purchasing power.
Customer preferences: Consumers in the EMEA region are shifting towards plant-based and organic oils, reflecting a growing awareness of health and sustainability. This trend is particularly evident among younger demographics who prioritize clean-label products and ethical sourcing. Additionally, the rise of veganism and flexitarian diets is influencing purchasing decisions, as individuals seek oils that align with their lifestyle choices. Cultural nuances also play a role, with Mediterranean diets promoting olive oil, while Northern regions favor rapeseed and sunflower oils, showcasing diverse preferences across the market.
Trends in the market: In the EMEA region, the Other Oils & Fats Market is experiencing a notable shift towards sustainable and plant-based alternatives, driven by heightened consumer awareness around health and environmental impact. Younger consumers are particularly influencing this trend, favoring oils that are organic and ethically sourced. The increasing adoption of flexitarian and vegan diets is prompting manufacturers to innovate and diversify their offerings. Additionally, regional preferences remain significant, with Mediterranean countries championing olive oil, while Northern regions gravitate towards rapeseed and sunflower oils, underscoring the need for targeted marketing strategies by industry stakeholders.
Local special circumstances: In the EMEA region, the Other Oils & Fats Market is shaped by diverse geographical and cultural influences. For instance, the Mediterranean climate fosters a strong preference for olive oil, seen as a staple in local diets and culinary practices. Conversely, Northern European countries emphasize rapeseed and sunflower oils, aligning with their agricultural outputs. Regulatory frameworks, such as EU sustainability directives, further propel the demand for certified organic and environmentally friendly products, compelling manufacturers to adapt to these local nuances for successful market penetration.
Underlying macroeconomic factors: The Other Oils & Fats Market in the EMEA region is significantly influenced by macroeconomic factors such as fluctuating commodity prices, consumer spending habits, and trade policies. Global trends like the shift towards plant-based diets are increasing demand for healthier oils, while national economic health, reflected in GDP growth and disposable income, impacts purchasing power. Fiscal policies promoting sustainable agriculture and environmental stewardship are also crucial, as they encourage investment in organic oil production. Additionally, inflation rates can affect production costs, ultimately influencing pricing strategies and consumer choices within the market.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
