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Boston, MA -- (SBWIRE) -- 06/13/2014 -- Oils and fats is expected to record slower current value growth in 2013 than during 2012 as the rising health consciousness of Hong Kong's consumers set to remain the major factor limiting growth in the category. This has led to many consumers reducing consumption of oils and fats, although the essential nature of oils and fats continued to support positive current value growth in the category towards the end of the review period. Moreover, many consumers are switching categories within oils and fats, switching from vegetable and seed oil to olive oil in pursuit of the perceived health benefits of olive oil.

Competitive Landscape

Lam Soon Oils & Fats Ltd is expected to have remained the leading player in oils and fats in 2013 with a 31% value share, although this is set to represent a decline in its value share over the course of the year. The company remains a dominant presence in blended cooking oil, which led it to suffer declining demand in 2012 as Hong Kong's increasingly health conscious consumers switched to healthier forms of cooking oil such as olive oil. While the company expanded its portfolio of cooking oil, it failed to benefit from strong consumer interest in healthier forms of cooking oil as there are many much better established and more dominant players offering other healthy types of oils and fats.

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Industry Prospects

Oils and fats is set to register a more stable performance over the forecast period due to its rapidly approaching maturity. The rising health consciousness of Hong Kong's consumers is also set to lead many people in Hong Kong to reduce their consumption if oils and fats in pursuit of healthier diets. Consumers are also expected to switch their preference across oils and fats categories, abandoning vegetable and cooking oil for olive oil, which is a more expensive category. This process is set to mitigate any slowdown expected in growth for oils and fats during the forecast period.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Oils and Fats industry in Hong Kong, China with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Oils and Fats industry in Hong Kong, China, our research will save you time and money while empowering you to make informed, profitable decisions.

The Oils and Fats in Hong Kong, China market research report includes:

- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares

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