Other Oils & Fats - Australia

  • Australia
  • Revenue in the Other Oils & Fats market amounts to €0.39bn in 2024. The market is expected to grow annually by 6.33% (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 €14.48 are generated in 2024.
  • In the Other Oils & Fats market, volume is expected to amount to 75.00m kg by 2029. The Other Oils & Fats market is expected to show a volume growth of 4.0% in 2025.
  • The average volume per person in the Other Oils & Fats market is expected to amount to 2.3kg in 2024.

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

Mercado
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Comparación de regiones
Moneda

Revenue

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

Most recent update: Dec 2024

Fuente: Statista Market Insights

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Most recent update: Dec 2024

Fuente: Statista Market Insights

Volume

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Most recent update: Dec 2024

Fuente: Statista Market Insights

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Price

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Most recent update: Dec 2024

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Sales Channels

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Most recent update: Nov 2024

Fuente: Statista Market Insights

Global Comparison

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Most recent update: Dec 2024

Fuente: Statista Market Insights

Analyst Opinion

The Other Oils & Fats Market in Australia is experiencing minimal growth, influenced by factors such as shifting consumer preferences towards healthier options, competition from alternative fats, and rising production costs affecting market dynamics.

Customer preferences:
Consumers in Australia are increasingly prioritizing health-conscious choices, leading to a notable shift towards oils perceived as healthier, such as olive and avocado oils. This trend is influenced by a growing awareness of the nutritional benefits of these fats, particularly among younger demographics focused on wellness. Additionally, the rise of plant-based diets and sustainability concerns is driving interest in alternative fats derived from nuts and seeds, reflecting evolving lifestyle preferences and cultural shifts towards more environmentally friendly food choices.

Trends in the market:
In Australia, the Other Oils & Fats Market is experiencing a significant shift towards oils perceived as healthier options, particularly olive and avocado oils, driven by increasing health consciousness among consumers. Concurrently, there is a rising interest in plant-based oils derived from nuts and seeds, reflecting a broader cultural movement towards sustainability and wellness. This trend is particularly pronounced among younger consumers, who are prioritizing nutritional benefits and environmental impact in their choices. For industry stakeholders, this evolution presents opportunities for innovation and product differentiation, emphasizing the need for transparency and education around the health benefits of various oils.

Local special circumstances:
In Australia, the Other Oils & Fats Market is shaped by unique geographical factors, such as the country's diverse climate that supports the cultivation of various oil-producing plants, including olives and avocados. Culturally, there is a strong emphasis on health and wellness, influenced by the Australian lifestyle that prioritizes outdoor activities and balanced diets. Regulatory frameworks also play a role, with stringent food safety standards fostering consumer trust in local products. These elements collectively drive demand for healthier oils and encourage innovation in sustainable practices within the market.

Underlying macroeconomic factors:
The Other Oils & Fats Market in Australia is significantly influenced by macroeconomic factors such as national economic stability, consumer spending patterns, and global commodity prices. Australia’s robust economy, characterized by low unemployment and steady GDP growth, bolsters consumer confidence, leading to increased demand for premium and health-oriented oils. Moreover, fluctuations in global oil prices can impact local production costs, affecting pricing strategies. Additionally, fiscal policies promoting sustainable agriculture and innovation encourage investment in eco-friendly oil production methods, aligning with consumer preferences for healthier options. These factors collectively shape the market dynamics and growth potential within the sector.

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.

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