Oils & Fats - Australia & Oceania

Revenue in the Oils & Fats Market is projected to reach US$100.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.95%, resulting in a projected market volume of US$176.50m by 2029.
With a projected market volume of US$4.37bn in 2024, most revenue is generated China.
In the Oils & Fats Market, the number of users is expected to amount to 2.2m users by 2029.
User penetration will be 4.3% in 2024 and is expected to hit 4.9% by 2029.
The average revenue per user (ARPU) is expected to amount to US$60.92.

Definition:

The eCommerce market market Oils & Fats covers online sales of butter, margarine, edible oils (e.g., olive, sunflower, palm, soybean, and coconut oil), as well as other oils and fats.

Structure:

The eCommerce market for Oils & Fats consists of four different markets:

Butter is a dairy product made up of several components, such as milk fat, milk proteins, and water. Butter contains a minimum of 80% fat and is widely used in baking and cooking, and as a flavor enhancer for a variety of dishes.
The Edible Oils market contains any type of oil that is extracted from plants and nuts and is used for cooking and food preparation.
Margarine is a butter substitute made from vegetable oils and contains a minimum of 80% fat. Margarine is typically less expensive and has less saturated fat than butter.
The Other Oils & Fats market includes lard and other edible animal fats, such as fat from cattle, buffaloes, sheep, goats, poultry, fats and fish oils.

Additional Information:

Oils & Fats comprises revenues, users, average revenue per user, and penetration rates. Revenues are derived from annual filings, national statistical offices, Google- and Alibaba-Trends and industry knowledge. Sales Channels show online and offline revenue shares, as well as, desktop and mobile sales distribution. Revenues are including VAT. The market only displays B2C revenues and users for the above-mentioned markets, hence C2C, B2B and reCommerce is not included. Additional definitions can be found on each respective market page.

Key players in the market are companies like Amazon, Tmall, JD, Taobao, Pinduoduo and Walmart.

Market numbers for the total market sizes (online + offline) can also be found on the respective pages of the Consumer Market Insights.

Online retailer that offer organic and sustainably sourced oils and fats such as Thrive Market
Butter such as Land O'Lakes
Margarine such as Country Crock
Edible oils such as Crisco
Edible animal fats such as Armour

Peanut butter such as JIF

Data coverage:

Data refers to B2C enterprises. Figures are based on the sale of physical goods via a digital channel to a private end consumer. This definition encompasses purchases via desktop computers (including notebooks and laptops) as well as purchases via mobile devices (e.g., smartphones and tablets). The following are not included in the eCommerce market: digitally distributed services (see instead: eServices), digital media downloads or streams, digitally distributed goods in B2B markets, and the digital purchase or resale of used, defective, or repaired goods (reCommerce and C2C). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Statista Global Consumer Survey), data on shopping behavior (e.g., Google Trends, Alibaba Trends), and performance factors (e.g., user penetration, price/product). Furthermore, we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, internet penetration, and population. 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 particular market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, internet penetration, and population.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The impact of the Russia/Ukraine war is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Ecommerce market, in a PDF format.