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Edible oils

Key industry growth drivers

gfmEdible oils growth rate is expected to reach US$ 94 billion in 2021, driven by increasing demand for healthy and ethical oils but balanced by ongoing price sensitivity. 

The Middle East and North Africa region is the fastest growing, driven by the growth of olive oil, which will contribute 64% of growth.

Product trends

Consumers, recognising the health consequences of oil consumption, are switching to better quality and healthier options such as olive, soy, seed and sunflower oil, which are rich in omega 3 and vitamin E and are cholesterol free.

Among higher income consumers, organic oils are performing well as part of the trend towards healthier oils. 

Processing methods

Price volatility is the key challenge in the edible oil industry due to the limited geographical growing areas and vulnerability to weather. Demand for ethical production has prompted companies to look for increasing control over all aspects of the supply chain.

In developing markets, where incomes are rising, consumers are shifting from unpackaged to branded packaged oils.

Innovations in oils tend to centre on packaging that increases convenience, allows better control of the amount of oil used, or helps prevent oxidization, such as Spray dispensers and squeezeable bottles. With oxidisation a critical issue in oil packaging and storage, new technology aimed at preventing oxidisation is also a key development.

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