Other Oils & Fats - Malta | Statista Market Forecast

The Other Oils & Fats Market in Malta has seen negligible growth, influenced by factors such as limited consumer demand, preference for traditional fats, and the rising cost of production, which hinder broader market expansion and innovation in product offerings.

Customer preferences: Consumers in Malta are gradually shifting towards healthier and more sustainable options in the Other Oils & Fats Market, influenced by growing awareness of nutrition and wellness. This trend is characterized by an increased interest in plant-based oils and fats, as well as a desire for organic and locally sourced products. Additionally, younger demographics are leaning towards innovative cooking methods that emphasize health, prompting a subtle decline in traditional fats. These evolving preferences reflect a cultural shift towards modern dietary practices while still respecting local culinary traditions.

Trends in the market: In Malta, the Other Oils & Fats Market is experiencing a notable shift toward plant-based and organic products, driven by heightened consumer awareness around health and sustainability. This trend is reflected in the increasing preference for oils like olive and avocado, which align with modern dietary practices. Furthermore, younger consumers are embracing innovative cooking techniques that prioritize nutritious ingredients, contributing to a gradual decline in traditional fats. This evolution presents significant implications for industry stakeholders, who must adapt their offerings to meet these changing consumer preferences and capitalize on the growing demand for healthier, locally sourced options.

Local special circumstances: In Malta, the Other Oils & Fats Market is uniquely influenced by the island's Mediterranean climate, which is conducive to the cultivation of olive trees, fostering a strong local preference for high-quality olive oil. Culturally, traditional Maltese cuisine emphasizes the use of flavorful oils, which has led to a resurgence in artisanal production methods. Additionally, regulatory frameworks promoting organic farming practices are encouraging producers to adopt sustainable methods, further aligning with consumer demands for healthier and environmentally friendly options. This local context shapes the market dynamics distinctly compared to other regions.

Underlying macroeconomic factors: The Other Oils & Fats Market in Malta is significantly shaped by macroeconomic factors, including the national economic health and global market trends. The steady growth of Malta's economy, bolstered by tourism and foreign investment, supports consumer spending on premium food products like high-quality olive oil. Additionally, global trends toward healthier eating and sustainability resonate with local producers, prompting investment in organic and artisanal production methods. Fiscal policies promoting agriculture and food innovation further enhance the competitiveness of the oils and fats sector, enabling local brands to thrive in both domestic and international markets, while fluctuating commodity prices and trade dynamics also play crucial roles in shaping market performance.

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.