10.12.11
The U.S. market for edible fats and oils is thriving, boosted by a wave of new product introductions, which capitalize on consumers' growing knowledge that not all fats are bad for you, and, in fact, some are important to good health, according to "Fats and Salad/Cooking Oils in the U.S.: Butter, Margarine, Olive Oil, and Beyond" by market research publisher Packaged Facts.
Thanks to recent studies indicating that certain fats (monounsaturated and polyunsaturated fats) can lower disease risk, "good" fats as a component of food have left the nutritional doghouse. As a result, consumers who had embraced low-fat diets for years are returning to foods and beverages that feature the better-for-you fats, all in keeping with the larger healthier eating trend that is shaping the food industry.
"Increased consumer demand has prompted manufacturers to bring new foods and beverages to market touting healthy fats and oils content. And these products have sold well enough, even in tough times, that they've emerged as relatively recession-proof compared to other food categories. Some may point out that many fats and oils such as butter, margarine and cooking oils are household staples that consumers will always buy, but make no mistake, this newfound health perspective is driving sales," says David Sprinkle, publisher of Packaged Facts.
The outlook for the market is bright beyond 2011, especially as fats and oils marketers take advantage of fat's newly won place as a desired dietary component. Packaged Facts estimates that U.S. retail sales of fats and oils exceeded $9 billion in 2011. Sales are projected to approach $11 billion by 2016, with annual growth rates edging up from 2% in 2012 to 4% by 2016.
"Fats and Salad/Cooking Oils in the U.S.: Butter, Margarine, Olive Oil, and Beyond" examines the U.S. market for fats and oils within the context of broader food industry trends in new product development and marketing. Major categories covered include butter, margarine, mayonnaise, cooking/salad oil, olive oil, cooking sprays, shortening, and popcorn oil. To accommodate the complexities of the U.S. market within shifting socioeconomic contexts, the report investigates not only the sales data, new product introductions, and marketing strategies, but also the lifestyle patterns determining trends in fats and oils.
Thanks to recent studies indicating that certain fats (monounsaturated and polyunsaturated fats) can lower disease risk, "good" fats as a component of food have left the nutritional doghouse. As a result, consumers who had embraced low-fat diets for years are returning to foods and beverages that feature the better-for-you fats, all in keeping with the larger healthier eating trend that is shaping the food industry.
"Increased consumer demand has prompted manufacturers to bring new foods and beverages to market touting healthy fats and oils content. And these products have sold well enough, even in tough times, that they've emerged as relatively recession-proof compared to other food categories. Some may point out that many fats and oils such as butter, margarine and cooking oils are household staples that consumers will always buy, but make no mistake, this newfound health perspective is driving sales," says David Sprinkle, publisher of Packaged Facts.
The outlook for the market is bright beyond 2011, especially as fats and oils marketers take advantage of fat's newly won place as a desired dietary component. Packaged Facts estimates that U.S. retail sales of fats and oils exceeded $9 billion in 2011. Sales are projected to approach $11 billion by 2016, with annual growth rates edging up from 2% in 2012 to 4% by 2016.
"Fats and Salad/Cooking Oils in the U.S.: Butter, Margarine, Olive Oil, and Beyond" examines the U.S. market for fats and oils within the context of broader food industry trends in new product development and marketing. Major categories covered include butter, margarine, mayonnaise, cooking/salad oil, olive oil, cooking sprays, shortening, and popcorn oil. To accommodate the complexities of the U.S. market within shifting socioeconomic contexts, the report investigates not only the sales data, new product introductions, and marketing strategies, but also the lifestyle patterns determining trends in fats and oils.
