Australia Edible Oil Market Overview, 2028

Australia Edible Oil Market Overview, 2028

The edible oil market in Australia is a dynamic and evolving sector within the country's food industry. Renowned for its diverse culinary landscape and health-conscious population, Australia's edible oil market reflects a unique blend of tradition, innovation, and sustainability. With a growing awareness of the importance of dietary choices, consumers in Australia are increasingly seeking healthier and more sustainable edible oil options. Olive oil, canola oil, sunflower oil, and various specialty oils have gained prominence, not only for their culinary versatility but also for their perceived health benefits. This article delves into the multifaceted world of the Australian edible oil market, exploring its key trends, drivers, popular choices, and factors influencing its future growth. Whether it's the love for a sizzling barbecue, a wholesome Mediterranean-inspired meal, or the demand for eco-conscious cooking, the edible oil market in Australia is a vibrant reflection of the nation's evolving culinary preferences and health-conscious lifestyle choices. Australia's multicultural society has introduced a wide variety of culinary traditions and cooking oils. Immigrants from countries like Italy, Greece, and India have contributed to the popularity of olive oil, ghee (clarified butter), and other specialty oils in Australian cuisine. Australian cuisine is diverse, ranging from traditional Indigenous dishes to modern fusion cuisine. Different oils are used to prepare various dishes, from frying seafood to roasting vegetables. Olive oil, for example, is commonly used in Mediterranean-inspired dishes, while peanut oil is favoured for Asian stir-fries.

According to the research report ""Australia Edible Oil Market Overview, 2028,"" published by Bonafide Research, the Australian edible oil market is expected to add more than 630 million dollars from 2023 to 2028. Australia's multicultural society has brought a rich variety of culinary traditions to the country. Changes in cooking habits have influenced the types of oils consumers use. As Australians adopt healthier cooking methods like grilling, baking, and stir-frying, oils with high smoke points, like canola and sunflower oil, have become more popular. Educational efforts and marketing campaigns have helped raise awareness about the benefits of different types of edible oils, encouraging consumers to make informed choices based on their cooking needs and dietary preferences. Australia's changing demographics, including an ageing population and increasing urbanisation, influence consumer preferences and dietary habits. Oils perceived as healthier or more suitable for specific age groups are in demand. Australia's edible oil producers have also expanded their reach by exporting their products to international markets, contributing to the growth of the industry. Australia's changing demographics, including an ageing population and increasing urbanisation, influence consumer preferences and dietary habits. Oils perceived as healthier or more suitable for specific age groups are in demand. Australia boasts a thriving production of specialty oils like macadamia oil and avocado oil. These oils are often produced using native or locally grown ingredients and are known for their unique flavours and potential health benefits. Australians have adopted healthier cooking methods, such as grilling and baking, leading to an increased use of oils with high smoke points, like canola and sunflower oil. However, the Australian food industry, which includes the production, distribution, and promotion of edible oils, is regulated and supported by various government bodies and industry associations. These organisations oversee food safety and quality standards and provide support to food producers and manufacturers. The Australian Olive Association (AOA) is primarily focused on the olive industry; the AOA represents olive oil producers in Australia. They promote Australian olive oil, set industry standards, and support olive growers and producers. The National Oilseeds Association (NOA) represents the oilseed industry in Australia, which includes crops like canola and sunflower.

Products types include soybean oil, palm oil, rapeseed oil, mustard oil, sunflower oil, olive oil, groundnut oil, coconut oil, corn oil, rice bran oil, sesame oil, cottonseed oil, and others (apricot, hazelnut, almond, macadamia, walnut, avocado, grape seed, cashew, Brazil nuts, canola, etc.). In Australia, rapeseed oil is a growing market and is often considered a healthier cooking oil choice due to its low saturated fat content and favourable balance of omega-3 and omega-6 fatty acids. Health-conscious consumers in Australia are increasingly opting for oils perceived as heart-healthy. Australians are known for their diverse culinary tastes, and canola oil's versatility makes it suitable for preparing a variety of dishes, from stir-fries to baked goods. Furthermore, the others, like the apricot, hazelnut, almond, macadamia, walnut, avocado, grape seed, cashew, Brazil nuts, canola, etc., will grow at the highest CAGR rate, and Australia’s multicultural society has led to a diverse culinary landscape. Consumers seek specialty oils to experiment with international cuisines and unique flavours, contributing to the growth of these oils. Australia has favourable conditions for growing a variety of nuts and seeds used in specialty oils, such as almonds, macadamias, and grape seeds. This local production ensures a fresh and reliable supply.

Based on the nature types, which include conventional and organic, organic will grow at the highest rate. Australia has a growing health-conscious population that is increasingly seeking organic and natural products. Organic edible oils are perceived as healthier options because they are produced without synthetic pesticides, herbicides, or genetically modified organisms (GMOs). Consumers in Australia are becoming more aware of the ingredients in their food. Organic edible oils typically have clean and transparent labels, which appeal to consumers looking for products with minimal processing and additives. Educational campaigns and marketing efforts have helped raise awareness about the benefits of organic products, including organic edible oils. Consumers are more informed about the differences between organic and conventional oils. Furthermore, based on end user segments, which include domestic, industrial, and food service, the domestic segment leads the market. Australian consumers prefer to cook at home and prepare their meals. Home-cooked meals offer control over ingredients, flavours, and portion sizes, which aligns with health- and quality-conscious consumer preferences. Australia's multicultural population means a wide variety of cuisines and cooking styles. This diversity encourages households to use different types of edible oils, depending on the dishes they prepare. For example, olive oil for Mediterranean dishes or sesame oil for Asian cuisine Furthermore, family meals are important in Australian culture. Cooking at home allows families to bond and share meals together, which is a cherished tradition.

Based on the distribution channel, which includes offline and online, the offline channel dominates the market. The offline channel further includes convenience stores, supermarkets, direct sales, and others. In Australia, the convenience store has the highest market share. Consumer lifestyles have become busier, and convenience stores offer quick and accessible shopping options. This convenience may make consumers more likely to purchase essential items like edible oils during their visits. As urban areas continue to grow, convenience stores are often more accessible to urban dwellers who may not have easy access to large supermarkets. Convenience stores excel at promoting impulse purchases. Consumers may pick up edible oils along with other essentials when visiting these stores.

Considered in this report:
• Geography: Japan
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• Japan Edible Oils market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type:
• Soybean Oil
• Palm Oil
• Rapeseed Oil
• Mustard Oil
• Sunflower Oil
• Olive Oil
• Ground nut Oil
• Coconut Oil
• Corn Oil
• Rice bran Oil
• Sesame Oil
• Cottonseed Oil
• Others (apricot, hazelnut, almond, macadamia, walnut, avocado, grape seed, cashew, brazil nuts, canola etc)

By Nature:
• Conventional
• Organic

By End-User:
• Domestic
• Industrial
• Food Service

By Distribution Channel:
• Offline
• Convenience store
• Hypermarket/Supermarket
• Direct Sales
• Others
• Online

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Edible Oil industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.