Australia Edible Oils Market, By Region, Competition, Forecast & Opportunities, 2020-2030F

The Australia Edible Oils Market was valued at USD 4.41 Billion in 2024, and is expected to reach USD 5.86 Billion by 2030, rising at a CAGR of 4.92%. Factors such as growing awareness of the health benefits of consuming healthier oils, like canola, olive, and avocado oil, are driving their popularity in Australia due to their low saturated fat content. Additionally, the rising popularity of the Mediterranean diet and plant-based foods is further fueling the demand for these healthier oils in the country.

According to USDA, Australian oilseed production, led by canola, is expected to remain strong in the 2024/25 marketing year, with canola production forecasted to reach 6.5 million metric tons (MMT). Canola exports are expected to rise by 16% to 5.1 MMT, with canola oil exports growing by 21% to 230,000 metric tons, setting a new record. Olive oil production is forecast to reach 25,000 MT, driven by a biennial yield effect, while cottonseed production is expected to rise by 10% to 1.38 MMT, with exports increasing by 9% to 600,000 MT.

Key Market Drivers

Health and Wellness Trends

The growing emphasis on health and wellness is one of the key drivers behind the expansion of the Australia edible oils market. As Australians become more health-conscious, they are increasingly opting for oils that offer nutritional benefits, such as olive oil, avocado oil, and other plant-based oils. These oils are known for their heart-healthy properties, high content of unsaturated fats, antioxidants, and omega-3 fatty acids, which contribute to reducing the risk of chronic diseases like heart disease and diabetes. Consumers are becoming more aware of the detrimental effects of saturated and trans fats found in traditional oils such as palm oil and canola oil.

As part of the trend toward healthier eating habits, Australians are also paying attention to ingredients and their sources, preferring oils that are minimally processed and free from harmful additives. This shift in consumer preferences is driving the demand for organic and natural edible oils, which are perceived as healthier options. Favored by health-conscious individuals, home cooks, and the food industry, Australian oils are known for their healthy nutritional profile, great taste, and versatility. Australia consumes over 600,000 tonnes of oils and fats annually, with the majority used in edible applications. Canola oil is the most popular soft oil, making up around 45% of total soft oils usage. While small amounts of dietary fat (or fatty acids) are essential for good health, dieticians recommend incorporating unsaturated fats into our diet and avoiding foods high in saturated fats and trans fatty acids.

Key Market Challenges

Fluctuating Raw Material Prices

A significant challenge in the Australia edible oils market is the volatility of raw material prices. The prices of essential raw materials like canola, soybeans, sunflower, and palm oil are highly susceptible to global factors such as weather conditions, crop yields, and international trade policies. Adverse weather events, such as droughts or floods, can drastically reduce crop production, leading to increased prices.

Additionally, geopolitical tensions or trade restrictions in key producing countries (like Southeast Asia or South America) can disrupt the supply chain, further exacerbating price fluctuations. This volatility makes it difficult for manufacturers to maintain consistent pricing, often forcing them to adjust product costs or absorb losses. Consumers may also be affected by higher prices, leading to potential declines in demand, particularly for more premium oils. Companies must adapt to these fluctuations by engaging in hedging strategies or securing long-term supply agreements to stabilize prices and reduce risks.

Key Market Trends

Growing Demand for Health-Conscious Oils

A significant trend in the Australia edible oils market is the increasing demand for healthier oil options. Consumers are becoming more health-conscious, seeking oils that are rich in unsaturated fats, omega-3 fatty acids, and antioxidants. Oils like extra virgin olive oil, avocado oil, and flaxseed oil are gaining popularity due to their perceived health benefits, such as reducing cholesterol levels and supporting heart health. As part of this trend, consumers are also looking for oils that are minimally processed, organic, and free from harmful chemicals or additives.

This shift toward healthier oils is not just limited to household cooking; it extends to the foodservice industry, where restaurants and cafes are adopting healthier oil options to meet customer demands. The growing focus on health and wellness is prompting manufacturers to innovate and offer oils that are not only nutritious but also versatile for various cooking applications. As awareness around the dangers of trans fats and saturated fats continues to spread, the demand for these health-focused oils is expected to grow, driving the market forward.

Key Market Players

• Alba Edible Oils
• Plenty Foods PTY LTD
• Sherman Foods
• Corval Group
• Goodman Fielder Pty Limited
• Monini S.p.A.
• Cootamundra Oilseed Pty Ltd.
• Cargill, Incorporated
• Cobram Estate, LLC
• DEOLEO, S.A.

Report Scope:

In this report, the Australia Edible Oils Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Australia Edible Oils Market, By Type:

• Canola Oil
• Vegetable Oil
• Olive Oil
• Nuts Oil
• Others

Australia Edible Oils Market, By Nature:

• Organic
• Conventional

Australia Edible Oils Market, By Distribution Channel:

• Supermarkets/Hypermarkets
• Convenience Stores
• Online
• Others

Australia Edible Oils Market, By Region:

• New South Wales
• Victoria
• Queensland
• South Australia
• Western Australia
• Tasmania
• Northern Territory

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Australia Edible Oils Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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