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Olive oil enjoys a very good position among British consumers

Olive oil enjoys a very good position among British consumers

2019/24/05 - Olive oil enjoys a very good position among British consumers and will continue to be the leading oil in British cuisine both for cooking and for salads, according to a study by ICEX Spain Export and Investment.

However, olive oil faces strong competition in the British market, as vegetable and seed oils are increasingly important, not to mention butter or margarine, which are very well established in English cuisine.

During recent years, olive oil has been losing market share and sunflower and rapeseed oils have been growing rapidly in the United Kingdom.

However, according to this study, the British consumer shows great interest in a healthier and more balanced diet. This, together with the growing popularity of Spanish gastronomy, the phenomenon of tapas bars and new food trends have made it go from being an unknown product to occupy more and more space in the shelves of food establishments.

Spain and Italy are the big dominants of the olive oil market in the United Kingdom. Of the rest of the exporting countries, none reach 3% of market share and only 2% go to Belgium (2.70%), Greece (2.59%), France (2.39%) and Germany (2.26%).

Likewise, the concern for well-being and a healthy and balanced diet will continue to be a decisive buying factor for consumers, willing to pay something more for a product that offers
positive healthy effects. In this sense, according to ICEX, it is vital that olive oil brands have an impact on their healthy properties, since they have to face competition from other vegetable oils such as rapeseed oil, which is increasingly popular with consumers.

For this promotional work, ICEX believes that prestigious chefs will continue to be indispensable, given the influence they exert.

In addition, innovation and the launching of new references (new flavors, new varieties, new formats or new packaging) will be a key element in a market in which consumers constantly look for products that surprise them and offer added value.

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