Other Oils & Fats - Laos | Statista Market Forecast

Revenue in the Other Oils & Fats market amounts to US$67.88m in 2024. The market is expected to grow annually by 12.05% (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$8.77 are generated in 2024.
In the Other Oils & Fats market, volume is expected to amount to 13.90m kg by 2029. The Other Oils & Fats market is expected to show a volume growth of 8.7% in 2025.0.
The average volume per person in the Other Oils & Fats market is expected to amount to 1.2kg 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.

For more information on the displayed data, click the info button on the right side of each box.

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 Laos is experiencing subdued growth, influenced by factors such as limited consumer purchasing power, competition from imported products, and changing dietary preferences that prioritize healthier options over traditional fats.

Customer preferences: Consumers in Laos are increasingly gravitating towards healthier cooking oils and fats, driven by a growing awareness of nutritional value and health implications. This shift is particularly evident among younger demographics who prioritize wellness and are influenced by global dietary trends. The rise of urbanization and busy lifestyles has also led to a demand for convenient, ready-to-use oil products that align with modern cooking practices. Additionally, cultural preferences are evolving, as traditional cooking methods are being adapted to incorporate healthier alternatives, reflecting a blend of local heritage and contemporary health consciousness.

Trends in the market: In Laos, the Other Oils & Fats Market is experiencing a notable shift towards healthier options, as consumers increasingly seek oils that offer better nutritional profiles, such as olive and avocado oils. The trend is particularly strong among health-conscious younger generations who are influenced by global wellness movements. Furthermore, urbanization and fast-paced lifestyles are driving demand for convenient cooking oils that cater to quick meal preparations. This evolution signifies a potential decline in traditional oil usage, presenting opportunities for industry stakeholders to innovate and market healthier alternatives while aligning with cultural preferences.

Local special circumstances: In Laos, the Other Oils & Fats Market is shaped by the country's rich agricultural heritage and diverse culinary practices, which emphasize the use of local ingredients. The geographical abundance of tropical fruits and nuts provides a unique opportunity for the production of native oils, such as coconut and sesame. Additionally, cultural traditions around food preparation are evolving, leading to increased interest in oils perceived as healthier. Regulatory support for sustainable practices further encourages innovation, enabling producers to align their offerings with both health trends and local preferences.

Underlying macroeconomic factors: The Other Oils & Fats Market in Laos is significantly influenced by macroeconomic factors, including national economic stability, agricultural policies, and global commodity prices. As the economy grows, consumer purchasing power rises, leading to increased demand for diverse oils and fats. Favorable fiscal policies that support local agriculture enhance production capabilities, while investments in technology improve efficiency and quality. Additionally, global trends towards health and sustainability are prompting local producers to adapt, ensuring they meet both domestic and international consumer preferences. These dynamic factors collectively shape the market landscape, driving innovation and competitiveness.

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.