Spain Edible Oil Market Outlook

the edible oil market in spain is expected to grow rapidly over the projected period of 2018-2032. the trend can be attributed to the increasing health and nutritional awareness among the consumers. edible oils provide a healthy and nutritious diet, with cholesterol, trans-fats, and saturated fat levels that are typically lower than other cooking oils. in terms of volume, the market was valued at 1.3 million tons in 2017, exhibiting a significant cagr of 4.4%. spain is expected to witness an increase in the demand of edible oils over the next few years primarily driven by the rising preference for healthy oils such as canola oil and sunflower oil. in addition, the rapidly growing foodservice industry in the country is likely to increase the demand for edible oils as canola and sunflower oil are widely used in restaurants and other food outlets. with respect to revenue, the market was valued at 809 million usd in 2017. the market is forecast to reach a value of 1,102 million usd by 2032 at a cagr of 3.2%. this growth can be largely attributed to the rising disposable incomes of the people and increasing adoption of healthier diets. the increasing trends of 'farm-to-table' restaurants and various health awareness campaigns are further contributing to the growth of the edible oil industry in the country. in terms of varieties, olive oil accounts for the major market share. the increasing awareness among the population regarding the positive health benefits of olive oil is expected to drive the demand in the coming years. canola oil and sunflower oil are the other major varieties of edible oil consumed in spain. in 2017, canola oil accounted for a share of 30.6% of the total market share by varieties and is expected to witness a growth of 4.1% over the forecast period. in conclusion, the market for edible oils in spain is expected to expand rapidly over the projected period. the rising disposable incomes of the people and the increasing health and nutrition awareness among the consumers are expected to be the key drivers behind the growth of the industry.