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Viewing report
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Edible Oils & Fats in China: A Market Analysis
Access Asia Ltd, June 2011, Pages: 110+
Covering the market for primarily vegetable oil consumption by type, with animal fats, butter and margarine in China, including consumer market trends and key company profiles.
Extract:
'...Perhaps not the most alluring of consumer product sectors, the edible oils market is however representative of how much the consumer products market in China has changed in such a short space of time. Until recently, edible oils were controlled by government monopoly, and rationing of edible oils to poorer households was still being done within the last 15 years.
Now the market is dominated by the leading modern grocery chains in terms of distribution, and although brands have emerged, these are already being challenged by the emergence of retailer private label brands.
Edible oils have not grown as fast as the other food retail sectors. Total retail food sales grew by 165.6% between 2003 and 2010, while total current value retail sales of edible oils only grew 54.7%, and 25.8% in volume terms. Total volume consumption, including food processing and HoReCa, went up by 41.2% over the same period.
Edible oils are therefore not growing as fast as more profitable and expensive processed food products, but they remain core to the shopping basket – so much so that indiscreet special price offers, or even threats of price rises for cooking oils, can lead to rioting in the aisles. Fluctuations in edible oil prices are politically important because they directly affect wider food prices, and food prices have an history in China of creating social unrest.
Where the market is relatively interesting is in the growth of value-added products, such as flavoured blended oils, imported olive oil and other new products to the market, such as various nut oils.
Consumer interest in cooking and new food products continues to increase, and as long as this is the case, the demand for new and better cooking oils will increase. Relatively weak historical growth does not mean any real diminished significance for this sector, and its future potential still holds some interesting opportunities. ...'
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