PROSPECTS AND OPPORTUNITIES
Retail volume sales will struggle to return to pre-pandemic levels as consumers increasingly rely on foodservice
It is expected that the switch from retail to foodservice will continue in edible oils over the forecast period, as loadshedding (with South Africa being challenged by power disruptions for years) is likely to continue in the short term. While many South Africans will continue to cook regularly at home to manage their budgets, the demand for convenient fast food in foodservice from time-poor consumers will continue to support demand for edible oils through the foodservice channel, with volumes through the latter already fully recovering to pre-pandemic levels in 2023.
Lower-priced edible oils set to grow
Edible oils with more affordable price points, such as soy, canola and blends, are expected to attract consumers over the forecast period. Growth will be driven by the increasing demand for lower prices and cheaper cooking ingredients.
Health and wellness trend to drive some demand for olive oil
Global and local health and wellness trends are expected to remain relevant over the forecast period, and will continue to drive some demand for olive oil, despite predictions for an overall retail volume decline. Some consumers favour olive oil because of its high content of monounsaturated fats and antioxidants.
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Overview:
Understand the latest market trends and future growth opportunities for the Edible Oils industry in South Africa 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 South Africa, 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 South Africa 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 South Africa?
- Which are the leading brands in Edible Oils in South Africa?
- How are products distributed in Edible Oils in South Africa?
- 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 South Africa?
- 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 South Africa - Category analysis
KEY DATA FINDINGS
Sunflower oil continues to struggle amid price increases
Changes to consumer spending patterns in unstable economic scenario
Olive oil faces global supply shortages
Retail volume sales will struggle to return to pre-pandemic levels as consumers increasingly rely on foodservice
Lower-priced edible oils set to grow
Health and wellness trend to drive some demand for olive oil
Cooking Ingredients and Meals in South Africa - 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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