cooking oil market Analysis

Demand for cooking oil in Asia Pacific continues to remain strong, however, transformations are underway. Rising disposable income has led to the emergence of a strong middle class, which is ramping up demand for refine and premium cooking oil. The impact of health and wellness trend is palpable in the cooking oil market in APAC, forcing players to diversify their product offerings. Cooking oil demand in APAC is likely to grow at nearly 5% y-o-y in 2018, resulting into volumes of over 86,000 tons.

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The dietary habits of consumers in APAC have witnessed significant transformation in the last decade or so. The impact of western dietary habits is palpable on the cooking oil demand in APAC, with many existing and new players launching low-fat products in the market. Although these gains have been prominently noticed by cooking oil manufacturers, average consumption of premium cooking oil products per consumer is still on the lower side.

Since several years, cooking oil section in supermarkets and hypermarkets has been a crowded spot, where individuals keep choosing on several cooking oil options available that are healthy to consume. Cooking oil is an essential component in daily cooking activity, be it a restaurant or home. This, in combination with increasing population percentage, especially in emerging economies, is expected to fuel the consumption of cooking oils. However, aspects related to health disorders, specifically cardiovascular disorders that occur due to consumption of unhealthy cooking oils with high fat content can negatively impact the overall sales of cooking oils.

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