MARKET OUTLOOK
The market for edible oil in Israel has been anticipated to witness 0.31% of CAGR by revenue and -3.13% (negative) of CAGR by volume in the forecasting years of 2019-2025.
Average unit price in other edible oils (oils apart from olive oil, soy oil, coconut oil, sesame oil, hemp seed oil) declined for two reasons. Firstly, as coconut oil is not expensive when compared to other oils in this category and it is the most popular, it drags down the average unit price. Secondly, as the category has become more popular, it is no longer a niche, resulting in stronger price competition. At the end of 2016, the Ministry of Economy temporarily opened up the olive oil category to a specified number of customs-free imports. This is expected to encourage competition in the marketplace and reduce olive oil prices. Oils such as corn oil, palm oil, rapeseed oil, soy oil and sunflower oil will show negative trend due to the change in consumers’ perception of healthy food.
COMPETITIVE OUTLOOK
The preeminent companies in the Israel edible oil market are Shufersal Ltd., Leiman Schlussel Ltd., Wissotzky Tea (Israel) Ltd., Strauss Group Ltd. and Shemen Industries Ltd.