Oils & Fats - Russia

  • Russia
  • Revenue in the Oils & Fats market amounts to US$5.59bn in 2024. The market is expected to grow annually by 6.39% (CAGR 2024-2029).
  • In global comparison, most revenue is generated in India (US$46bn in 2024).
  • In relation to total population figures, per person revenues of US$38.61 are generated in 2024.
  • In the Oils & Fats market, volume is expected to amount to 705.50m kg by 2029. The Oils & Fats market is expected to show a volume growth of 1.5% in 2025.
  • The average volume per person in the Oils & Fats market is expected to amount to 4.5kg in 2024.

Key regions: Canada, India, Spain, Philippines, South Korea

 
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Analyst Opinion

The Oils & Fats Market in Russia is experiencing subdued growth, influenced by fluctuating consumer preferences, economic factors, and competition from alternative products. While health trends drive some demand, rising production costs and import restrictions challenge market expansion.

Customer preferences:
Consumers in Russia are increasingly gravitating towards healthier cooking oils and natural fats, reflecting a growing awareness of nutrition and wellness. This trend is particularly evident among younger demographics, who prioritize organic and non-GMO products, influenced by global health movements. Additionally, traditional culinary practices are being revisited, with a resurgence in the use of locally sourced fats like sunflower oil, aligning with a preference for sustainability and regional authenticity. Social media also plays a significant role in shaping these evolving preferences, as influencers promote healthier lifestyle choices.

Trends in the market:
In Russia, the Oils & Fats market is experiencing a notable shift towards healthier, functional oils as consumers increasingly seek products that support wellness and nutrition. There is a marked preference for organic and non-GMO options, particularly among younger buyers influenced by international health trends. Additionally, traditional fats like sunflower oil are regaining popularity, reflecting a desire for locally sourced and sustainable products. This evolution is heavily driven by social media, where influencers advocate for better dietary choices, indicating a significant opportunity for industry stakeholders to innovate and align with these consumer values.

Local special circumstances:
In Russia, the Oils & Fats market is influenced by a rich agricultural landscape, where vast fields of sunflowers and rapeseed provide local raw materials. Cultural preferences for traditional cooking methods, such as frying and sautéing, sustain demand for familiar oils while fostering a renewed interest in native fats. The regulatory environment is also evolving, with increased scrutiny on food labeling and quality, prompting manufacturers to adopt transparency. This unique blend of local agriculture, cultural heritage, and regulatory frameworks shapes consumer choices, creating opportunities for innovative, health-focused products that resonate with Russian values.

Underlying macroeconomic factors:
The Oils & Fats market in Russia is significantly influenced by macroeconomic factors such as fluctuating global oil prices, trade policies, and currency exchange rates. As a major exporter of sunflower oil, changes in demand from key markets can directly impact local producers. Additionally, national economic health, including GDP growth and consumer spending power, shapes purchasing behaviors. Fiscal policies aimed at supporting agriculture can enhance local production, while inflation rates affect raw material costs. Furthermore, the global push towards sustainability and health consciousness is prompting Russian consumers to seek higher-quality, healthier oils, thereby influencing market dynamics.

Methodology

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.

Overview

  • Revenue
  • Volume
  • Price
  • Sales Channels
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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