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Edible oils is expected to record a considerably higher growth rate in 2020 compared to the end of the review period as consumers have to cook more of their meals at home. As people are restricted to their homes during lockdown and through a lingering reluctance to return to crowded places, they will be eating and therefore preparing more meals at home, many of which use edible oils as essential ingredients. Consumers have also been stockpiling key ingredients since the outbreak of COVID-19,…Continue
COVID-19 has led to strong growth for edible oils in both retail volume and current value terms in 2020. During the lockdowns and foodservice channel closures, consumers have been forced to stay at home and cook from scratch, driving growing demand through retailers. Especially at the beginning of the first lockdown, sales were driven by panic-buying, and consumers stockpiled olive oil. This is the edible oil with the highest value sales, and is seen as a healthier alternative to sunflower…Continue
Compared to 2019, edible oils is set to see a significant rise in volume and value growth in 2020, with a spike in sales noted during March-May, the main lockdown period. During this time, all non-essential establishments were closed, with only supermarkets and markets open for food, and foodservice outlets could only operate takeaway and delivery services. As such, with the population eating out less, home cooking increased, with many consumers also avoiding ordering takeaway due to…Continue
Retail sales of olive oil increased significantly in the Netherlands after the lockdown in the middle of March. This follows the trend observed in most staple packaged food items. As demand from restaurants and other foodservice outlets fell drastically, consumption shifted rapidly from out-of-home consumption to at-home consumption. In 2020 we anticipate an overall strong growth in olive oil consumption in retail current value terms.
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