PROSPECTS AND OPPORTUNITIES
Rising health and wellness trend to drive development of healthier edible oils
The rising trend of health and wellness will significantly drive the development of healthier edible oils over the forecast period. Traditionally, Cantonese food is distinguished by its freshness, sweetness, and oiliness, with peanut oil and vegetable oil being the most commonly used ingredients during cooking.
Premiumisation within olive oil to continue
Premiumisation in olive oil has been a prominent trend in recent years, driven by increasing awareness of the health benefits associated with olive oil consumption. As local consumers become increasingly knowledgeable about the potential heart health benefits of monounsaturated fatty acids and inflammation-preventive properties of olive oil, they have shown a willingness to pay a premium for high-quality and artisanal products.
Low penetration of e-commerce as consumers less likely to make bulk purchases
As many homes, particularly apartments, in Hong Kong are limited by space, most local consumers are less likely to bulk purchase edible oils which they can find at discounted prices online. This constraint reduces the motivation for consumers to strongly shift their purchases of edible oils to e-commerce platforms in the near future.
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Overview:
Understand the latest market trends and future growth opportunities for the Edible Oils industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Edible Oils industry in Hong Kong, China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Edible Oils in Hong Kong, China report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Edible Oils in Hong Kong, China?
- Which are the leading brands in Edible Oils in Hong Kong, China?
- How are products distributed in Edible Oils in Hong Kong, China?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Edible Oils?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in Hong Kong, China?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Edible Oils in Hong Kong, China - Category analysis
KEY DATA FINDINGS
Weak retail demand for edible oils due to increasingly busy lifestyles and slowdown in home cooking
Price-sensitive consumers appreciate more affordable pricing
Increasing competition from mainland China pressurises local grocery retailers
Rising health and wellness trend to drive development of healthier edible oils
Premiumisation within olive oil to continue
Low penetration of e-commerce as consumers less likely to make bulk purchases
Cooking Ingredients and Meals in Hong Kong, China - Industry Overview
Cooking ingredients and meals in 2024: The big picture
Key trends in 2024
Competitive landscape
Channel developments
What next for cooking ingredients and meals?
DISCLAIMER
The following categories and subcategories are included:
Edible Oils
- Olive Oil
- Corn Oil
- Palm Oil
- Rapeseed Oil
- Soy Oil
- Sunflower Oil
- Other Edible Oil
Edible Oils
This is the aggregation of olive oil and vegetable and seed oil (which comprises of corn oil, palm oil, rapeseed oil, soy oil, sunflower oil, and other edible oil). Please note blended oil that contain over 50% of one type of oil are categorised in that category, e.g. blended oil with 60% soy oil is categorised in soy oil; whereas blended oils with less than 50% of a specific type of oil are categorised in other edible oil. Includes: Pre-packaged edible oils products purchased by consumers through legally established retail channels. Excludes: Unpackaged/bulk oils, i.e. instances where consumers bring an empty container or plastic bag to be (re)filled with cooking oil. Example: Minyak curah in Indonesia.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Edible Oils research and analysis database.
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