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Oils & Fats - Western Asia

Western Asia
  • Revenue in the Oils & Fats market amounts to US$7.54bn in 2024. The market is expected to grow annually by 6.23% (CAGR 2024-2029).
  • In global comparison, most revenue is generated India (US$46bn in 2024).
  • In relation to total population figures, per person revenues of US$33.89 are generated in 2024.
  • In the Oils & Fats market, volume is expected to amount to 1.31bn kg by 2029. The Oils & Fats market is expected to show a volume growth of 4.0% in 2025.0.
  • The average volume per person in the Oils & Fats market is expected to amount to 5.1kg in 2024.

Definition:

The Oils and Fats market covers all substances that are composed of fatty acids and used for cooking purposes or as an ingredient in many food products. These fats and oils can be obtained from plants or animals and are available in both liquid (oils) and solid (fats) form.

Structure:

The market consists of four different submarkets:

  • The Butter market covers all products that are defined as a high-fat milk product and contain a minimum of 80% fat. Its other ingredients are water, protein, and lactose.
  • The Margarine market covers all products that are made of vegetable oils and contains a minimum of 80% fat.
  • The Edible Oils market covers any type of oil that is extracted from plants and is used for cooking and food preparation.
  • The Other Oils & Fats market covers lard and other edible animal fats.

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.

In-Scope

  • Butter
  • Margarine
  • Edible oils
  • Edible animal fats

Out-Of-Scope

  • Peanut Butter
  • Ghee
  • Butter oil
  • Out-of-home consumption
Oils & Fats: market data & analysis - Cover

Market Insights report

Oils & Fats: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Volume

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Price

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Sales Channels

    Most recent update: Nov 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Oils & Fats Market in Western Asia is witnessing minimal growth, influenced by shifting consumer preferences towards healthier options, fluctuating raw material prices, and competition from alternative fat sources, which challenge traditional product demand.

    Customer preferences:
    Consumers in Western Asia are increasingly prioritizing health-conscious choices in their dietary habits, prompting a notable shift towards plant-based oils and fats. This trend reflects a growing awareness of the health benefits associated with unsaturated fats, particularly among younger demographics seeking to reduce cholesterol intake. Additionally, cultural influences favoring traditional cooking methods are evolving, with many embracing organic and locally sourced alternatives. The rise of convenience-oriented lifestyles is driving demand for ready-to-use oil blends, catering to busy consumers while maintaining nutritional integrity.

    Trends in the market:
    In Western Asia, the Oils & Fats market is experiencing a significant shift towards plant-based oils, driven by a rising consumer focus on health and wellness. This trend is particularly pronounced among younger demographics, who are increasingly opting for unsaturated fats to lower cholesterol levels. Additionally, there is a growing preference for organic and locally sourced oils, reflecting a cultural shift towards sustainability and natural ingredients. Convenience is also a key factor, as demand for ready-to-use oil blends rises, enabling busy consumers to maintain healthy cooking practices without sacrificing quality. These trends present both opportunities and challenges for industry stakeholders, necessitating innovation and adaptation to meet evolving consumer preferences.

    Local special circumstances:
    In Western Asia, the Oils & Fats market is influenced by diverse geographical and cultural factors that shape consumer preferences. The region's rich history of traditional cooking methods emphasizes the use of local oils, such as olive and sesame, which are deeply integrated into culinary practices. Additionally, stringent food safety regulations promote a demand for organic certifications, aligning with the cultural shift towards health-conscious eating. Economic diversity across countries further drives innovation, as urban areas adopt global trends, while rural regions cling to traditional oil sources, creating a unique market dynamic.

    Underlying macroeconomic factors:
    The Oils & Fats market in Western Asia is significantly affected by macroeconomic factors such as fluctuating global oil prices, trade policies, and national economic stability. Countries with strong agricultural sectors benefit from favorable fiscal policies that support local production of oils, enhancing market growth. Conversely, economic downturns can lead to reduced consumer spending, impacting demand for premium oils. Additionally, global trends towards sustainability and health consciousness are prompting investments in organic and specialty oils, while rising awareness of food safety standards drives regulatory compliance and innovation in product offerings across the region.

    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.

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    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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