LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global organic edible oil market to grow at a CAGR of over 11% during the forecast period, according to their latest market research report.
The increasing uses of online marketing channels is one of the major trends being witnessed in the global organic edible oil market 2019-2023. Online sales make shopping convenient, save time, and offer fast delivery. Offering products online also helps small retailers and vendors enhance the visibility of their products, subsequently helping them widen their profit margin. This encourages vendors to focus on the Internet-friendly customer segment and enter online retail formats. The brick and mortar stores that sell organic edible oils are located in metro cities and other comparatively less developed cities. Many organic edible oil companies, such as Now Foods, The J.M. Smucker Company, Bunge, and others, are strengthening their online channel to expand their consumer bases. Many of these players have established their own websites that include NOW Foods, Clearspring, Eden Foods, and others. Stores like Amazon, Walmart, Tesco, Alibaba, Natures Basket, and Bigbasket are emerging as fast-growing premium online grocery stores.
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According to Technavio analysts, one of the key factors contributing to the growth of the global organic edible oil market is the increasing demand for trans-fat-free oils:
Global organic edible oil market: Increasing demand for trans-fat-free oils
Concern about the safety of food increases the demand for organic edible oils that have a lower fat content than normal edible oils. Over the last few years, health problems such as digestive disorders, diabetes, and obesity have witnessed a drastic rise. Globally, the number of people with diabetes rose by 290.74% between 1980 and 2014. Hence, people have become health conscious and try to follow healthy diets. Food consumption patterns have undergone a shift with the inclination for foods with greater notational value and that are safe. Thus, the purchase and sales of clean-label, organic, and non-GMO products are growing faster than traditional products. Organic labels guarantee that only organic ingredients have been used for oil manufacturing. However, the increasing population of obese, overweight, and diabetic patients have heightened the demand for meal replacement products. Hence, efforts to lose weight and other health complications will further boost the market during the forecast period.
According to a senior analyst at Technavio, “Apart from increased demand for trans-fat-free oils, some other factors boosting the growth of organic edible oils are the benefits associated with organic edible oils, increasing number of restaurants and cafes serving organic food, and the rising application in the beauty and cosmetics industry.”
Global organic edible oil market: Segmentation analysis
The global organic edible oil market research report provides market segmentation by product (organic soybean oil, organic olive oil, and organic canola oil) and by region (the Americas, EMEA, and APAC). It also provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The APAC region held the largest share of the market in 2018, accounting for close to 35% share, followed by EMEA and Americas respectively. Although the Americas held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period followed by the EMEA region.
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