PROSPECTS AND OPPORTUNITIES
Health and wellness trend will continue to drive premiumisation within edible oils
The market for edible oils in Singapore is witnessing several evolving trends that are set to gain momentum over the forecast period. On the one hand, a growing interest in healthier options is prompting consumers to explore newer formats, such as cold-pressed edible oils offered by brands like Pons, Parliament Organic, Amutham, and the private label FairPrice.
Shift in Government focus to reducing saturated fat in cooking oils, following success of Nutri-Grade sugar initiative
Nutri-Grade Regulations, a set of mandatory labelling requirements designed to inform consumers about the nutritional quality of beverages, are set to broaden their scope to encompass packaged foods in the coming years, in a bid to reduce sodium and saturated fat consumption. This initiative will focus on key dietary sources, including salt, sauces, seasonings, and instant noodles for sodium, while cooking oils will be targeted for their saturated fat content.
Olive oil production expected to recover, due to improved climate conditions
Olive oil production is anticipated to rebound over the forecast period, due to improved climate conditions that positively affect crop yields. Favourable weather patterns, including optimal temperatures and adequate rainfall, are crucial for the growth of olive trees, which have faced challenges in recent years due to droughts and extreme weather events.
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Overview:
Understand the latest market trends and future growth opportunities for the Edible Oils industry in Singapore 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 Singapore, 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 Singapore 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 Singapore?
- Which are the leading brands in Edible Oils in Singapore?
- How are products distributed in Edible Oils in Singapore?
- 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 Singapore?
- 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 Singapore - Category analysis
KEY DATA FINDINGS
Slowing volume growth in edible oils due to rising prices, global disruptions, and health trends
Continued high cost of living spurs demand for private label
Price sensitivity and health consciousness shape competitive landscape for olive oil
Health and wellness trend will continue to drive premiumisation within edible oils
Shift in Government focus to reducing saturated fat in cooking oils, following success of Nutri-Grade sugar initiative
Olive oil production expected to recover, due to improved climate conditions
Cooking Ingredients and Meals in Singapore - 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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