Spain Edible Oil Market Overview, 2028

Spain Edible Oil Market Overview, 2028

In Spain, one of the primary drivers is the growing health consciousness among Spanish consumers. People are increasingly aware of the health benefits associated with specific oils, particularly olive oil, which is known for its high content of monounsaturated fats and antioxidants. This awareness has led to a shift towards healthier oil choices. Spain's strong adherence to the Mediterranean diet, which emphasizes the consumption of olive oil, fruits, vegetables, whole grains, and lean proteins, is a major driver of the edible oil market. Olive oil is considered an essential component of this heart-healthy diet. Spain's rich culinary heritage relies heavily on olive oil. Many traditional Spanish dishes, such as paella, gazpacho, and tortilla española, feature olive oil as a fundamental ingredient. Trends related to health and nutrition, including the Mediterranean diet, has a significant impact on consumer preferences for edible oils. Consumers are increasingly seeking oils that align with health-conscious lifestyles. Spain's diverse geography allows for the cultivation of various olive varieties, resulting in a wide range of olive oils with distinct flavours and aromas. This diversity attracts consumers looking for unique culinary experiences. Spain's popularity as a culinary destination has driven interest in the country's oils. Culinary tourism, including visits to olive groves and oil tastings, has become a significant driver of the market. Culinary schools and institutions in Spain often include instruction on the various uses of edible oils. Aspiring chefs are trained in the art of using oils to enhance flavour and texture. Clear and informative labelling that highlights the nutritional benefits of edible oils, such as their content of monounsaturated fats, polyphenols, and antioxidants, can influence consumer choices. Sustainable and environmentally responsible practices in olive oil production are becoming increasingly important. Brands that adopt eco-friendly methods may gain consumer favor. Government and industry initiatives to promote local agricultural production support small-scale growers and regional producers. This focus on local agriculture can lead to the availability of unique, high-quality oils in regional markets.

According to the research report “Spain Edible Oil Market Overview, 2028,"" published by Bonafide Research, the Spain Edible Oil market is expected to add more than USD 765 Million from 2023 to 2028. There's a growing interest in organic and sustainably produced edible oils. Consumers are willing to pay more for oils that are certified organic, environmentally friendly, and sourced through sustainable practices. Products with clear and informative labels detailing the nutritional benefits of edible oils, including their high content of monounsaturated fats, polyphenols, and antioxidants, are in high demand. Edible oil brands are collaborating with chefs, restaurants, and culinary influencers to promote their products and offer exclusive recipes and cooking tips. Consumers are exploring a wider variety of flavors in edible oils, including nut oils (e.g., walnut, almond), seed oils (e.g., pumpkin seed), and avocado oil, to add diverse tastes to their dishes. Cooking oil sprays designed for convenient and precise oil application are gaining popularity. They offer even coverage and reduced oil consumption. The growing popularity of plant-based diets has increased the demand for oils suitable for vegetarian and vegan cooking. There is a trend towards premium edible oils, often with unique flavor profiles or produced using traditional, artisanal methods. Consumers are willing to invest in high-quality oils for special occasions or gourmet cooking. Spain's popularity as a culinary destination has led to a rise in culinary tourism. Tourists often seek out local oils, attend cooking classes, and visit olive groves, contributing to the market's growth. Edible oil brands are partnering with meal kit companies to provide consumers with pre-measured portions of oils and ingredients for specific recipes, making home cooking even more convenient.

Based on product type the market is divided into Soybean oil, Palm Oil, Rapeseed Oil, Mustard oil, Sunflower Oil, Olive Oil, Ground nut Oil, Coconut Oil, Corn Oil, Ricebran oil, Sesame Oil, Cottenseed oil, Others (Apricot, Hazelnut, Almond, Macadamia, Walnut, Avocado, grapeseed, Cashew, Brazil nuts , canola etc). Palm oil is known for its cost-effectiveness, which makes it an attractive option for both consumers and food manufacturers. It is often more affordable than other edible oils, allowing consumers to save on their grocery bills. Palm oil is versatile cooking oil suitable for a wide range of culinary applications, including frying, sautéing, baking, and salad dressing. Its neutral flavor and high smoke point make it adaptable to various cooking methods. Palm oil is a key ingredient in the food processing industry. It is used in the production of a wide range of processed foods, including snacks, baked goods, margarine, and various packaged foods. The growth of the food processing sector contributes to the increased demand for palm oil. Palm oil is valued for its ability to provide texture and creaminess to food products. It is often used in the production of chocolates, ice creams, and spreads to enhance the mouthfeel and consistency of these products. In addition, Corn oil is perceived as a healthier alternative to some other edible oils due to its composition. It is low in saturated fats and high in polyunsaturated fats, particularly omega-6 fatty acids. This nutritional profile aligns with consumer preferences for heart-healthy oils.

Conventional edible oils were often more affordable than their organic or specialty counterparts. In a price-sensitive market, cost-effectiveness can be a crucial factor driving consumer choices. The conventional edible oil segment often had well-established supply chains and production capacities. This meant that conventional oils, such as sunflower oil and vegetable oil, were readily available and easier to produce at scale, meeting the high demand. Conventional agriculture methods often involve the use of synthetic pesticides and fertilizers, which can result in higher yields and lower production costs. This can make conventional edible oils more readily available and affordable for consumers. The infrastructure for processing conventional edible oils, such as sunflower and soybean oil was well-developed in Spain. This allowed for efficient production and distribution, contributing to the segment's market share. In addition based on end user, Spain's vibrant hospitality and foodservice industry, including restaurants, hotels, and catering services, rely heavily on edible oils for cooking and food preparation. As the tourism industry in Spain continued to thrive, the demand for edible oils in the industrial sector also increased. The industrial segment of the edible oil market often caters to the food processing industry, which requires significant quantities of edible oils for various purposes, including frying, baking, and as ingredients in processed foods. The growth of the food processing sector can directly impact the demand for edible oils in the industrial segment.

Traditional brick-and-mortar retail outlets, such as supermarkets, hypermarkets, and grocery stores, have historically been the primary source for consumers to purchase edible oils. These stores offer a wide variety of edible oil brands and types, making them a convenient choice for most consumers. Many consumers prefer to physically see and touch products before making a purchase. Offline stores provide this tactile experience, which can be important, especially for items like edible oils, where quality and authenticity are crucial. Offline stores offer face-to-face interactions with store staff, which can provide guidance and recommendations to customers. This personalized service can influence purchasing decisions, especially for consumers seeking advice on selecting the right type of oil. Many consumers prefer to buy edible oils in bulk, especially in larger containers. Offline stores typically offer a wide range of package sizes, catering to different consumer preferences. In addition, the adoption of online shopping for groceries and everyday essentials has been steadily increasing in Spain. Consumers have become more comfortable with online purchasing, including food products like edible oils. Online shopping offers unparalleled convenience. Consumers can browse, compare, and purchase a wide variety of edible oils from the comfort of their homes or on their mobile devices, 24/7. This convenience factor appeals to busy individuals and those who prefer to avoid crowded stores. Online purchases often come with home delivery options, eliminating the need for consumers to travel to physical stores. This feature was particularly advantageous during the COVID-19 pandemic when people sought contactless shopping experiences.

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

Aspects covered in this report:
• Spain Edible Oil 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.