| Britons turn to olive oil in a big way |
|
|
|
LONDON - Britons are increasingly looking at Olive oil as they seek to eat healthy and the sales of olive oil have surpassed that of other oils for the first time, a report by market analyst Mintel has said. The yearly sales of olive oil crossed £104 million.
This is an increase of 39 percent since 2000. The report added that the market share of olive oil has now hit 51 percent. "The use of olive oil in rustic and exotic dishes has also done a lot to elevate its status as something 'special', especially amongst those who enjoy recreational cooking and entertaining," commented Claire Birks, a senior market analyst with Mintel.
"What is more, the popularity of olive oil has not only been helped by its aspirational value, but also by its association with Mediterranean cooking and the health claims linked with this way of life." She added that this trend showed that Britons were willing to pay premium price for "sophisticated alternatives to everyday products." The popularity of olive oil has also been helped by its increasing use by celebrity chefs like Gordon Ramsay and Jamie Oliver.
The report said that the overall market share of edible oils has increased by 15 percent since 2002 to £220 million in the last year. But sales of solid fats, including lard, were down by more than a third since 2000. They fell by 35 percent to £14 million.
"Solid fats have largely suffered at the hands of the decline in home baking, which has become less fashionable due to increased interest in convenience food," Ms Birks confirmed. "As the British consumer becomes increasingly better off and more demanding they are likely to continue to turn to higher quality products, a trend that will of course benefit specialty oils."
Posted
on : Sat, 14 Jan 2006 08:30 GMT | General News
By : Chris Rowe
|
| |
| Related |
|
|
|
