Other Oils & Fats - Armenia

  • Armenia
  • Revenue in the Other Oils & Fats market amounts to €47.98m in 2024. The market is expected to grow annually by 8.13% (CAGR 2024-2029).
  • In global comparison, most revenue is generated in China (€1,452m in 2024).
  • In relation to total population figures, per person revenues of €17.27 are generated in 2024.
  • In the Other Oils & Fats market, volume is expected to amount to 8.30m kg by 2029. The Other Oils & Fats market is expected to show a volume growth of 6.0% in 2025.
  • The average volume per person in the Other Oils & Fats market is expected to amount to 2.4kg in 2024.

Key regions: United States, Russia, Canada, China, United Kingdom

Mercado
Región
Comparación de regiones
Moneda

Revenue

Espere, por favor

Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Dec 2024

Fuente: Statista Market Insights

Espere, por favor

Most recent update: Dec 2024

Fuente: Statista Market Insights

Volume

Espere, por favor

Most recent update: Dec 2024

Fuente: Statista Market Insights

Espere, por favor

Most recent update: Dec 2024

Fuente: Statista Market Insights

Price

Espere, por favor

Most recent update: Dec 2024

Fuente: Statista Market Insights

Sales Channels

Espere, por favor

Most recent update: Nov 2024

Fuente: Statista Market Insights

Global Comparison

Espere, por favor

Most recent update: Dec 2024

Fuente: Statista Market Insights

Analyst Opinion

The Other Oils & Fats Market within The Food market in Armenia is experiencing subdued growth, influenced by factors such as fluctuating raw material prices, changing consumer preferences, and increased competition from alternative products.

Customer preferences:
Consumers in Armenia are increasingly prioritizing health and wellness, leading to a notable shift towards healthier oils and fats, such as olive oil and avocado oil, which are perceived as more nutritious alternatives. Additionally, younger demographics are showing a preference for organic and locally sourced products, reflecting a cultural shift towards sustainability and supporting local economies. This trend is further influenced by rising awareness of dietary fat's role in overall health, prompting consumers to explore various cooking oils that align with their evolving lifestyles and dietary choices.

Trends in the market:
In Armenia, the Other Oils & Fats Market is experiencing a significant shift towards healthier options, with consumers increasingly favoring oils like olive and avocado due to their health benefits. This trend is particularly pronounced among younger generations, who are also inclined towards organic and locally sourced products, reflecting a broader cultural movement towards sustainability. As awareness of the nutritional impact of dietary fats rises, industry stakeholders must adapt to these preferences, potentially leading to increased demand for innovative, health-oriented products and sustainable sourcing practices.

Local special circumstances:
In Armenia, the Other Oils & Fats Market is influenced by the country’s rich agricultural heritage and mountainous geography, which fosters the cultivation of diverse oil-producing crops. Traditional cooking practices emphasize the use of locally sourced oils, such as sunflower and grape seed oil, appealing to consumer nostalgia and cultural identity. Additionally, regulatory initiatives promoting organic farming and health education are reshaping consumer preferences towards healthier oils, enhancing demand for premium, locally produced options while supporting sustainable agricultural practices.

Underlying macroeconomic factors:
The Other Oils & Fats Market in Armenia is shaped by macroeconomic factors such as national economic stability, agricultural productivity, and global commodity prices. Armenia's ongoing efforts to bolster its agricultural sector through fiscal policies and investments in rural development are enhancing the production and quality of oil crops. Additionally, fluctuations in global oil prices significantly affect local market dynamics, influencing consumer purchasing power and preferences. The rising trend toward health consciousness further drives demand for premium oils, while trade agreements and international partnerships aim to expand market access for Armenian oil producers, fostering economic growth and sustainability.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

Key Market Indicators

The following Key Market Indicators give an overview of the social and economic outlook of the selected region and provide additional insights into relevant market-specific developments. These indicators, together with data from statistical offices, trade associations and companies serve as the foundation for the Statista market models.

Espere, por favor

Fuente: Espere, por favor

Encuentra más mercados

Descubre nuevos mercados y obtén valiosos conocimientos en diferentes áreas temáticas con nuestra función de búsqueda Market Insights.

Contacto

¿Alguna duda? Estaremos encantados de atenderte.
Statista Locations
Contacto Nerea Marcos
Nerea Marcos
Client Success Manager

Lu - vi, 9:30 - 17:00 h (CET)

Contacto Meredith Alda
Meredith Alda
Sales Manager– Contacto (Estados Unidos)

Lu - vi, 9:00 - 18:00 h (EST)

Contacto Yolanda Mega
Yolanda Mega
Operations Manager– Contacto (Asia)

Lu - vi, 9:00 - 17:00 h (SGT)

Contacto Ayana Mizuno
Ayana Mizuno
Junior Business Development Manager– Contacto (Asia)

Lu - vi, 10:00 - 18:00 h (JST)

Contacto Lodovica Biagi
Lodovica Biagi
Director of Operations– Contacto (Europa)

Lu - vi, 9:30 - 17:00 h (GMT)

Contacto Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contacto (América Latina)

Lu - vi, 9:00am-6:00pm (EST)