Affluent consumers major contributors to Spain’s oils and fats market: Report
summary：Affluent consumers in Spain have been major contributors to the oils and fats market in the country, according to a report by Canadean – Food....
Affluent consumers in Spain have been major contributors to the oils and fats market in the country, according to a report by Canadean – Food.The report "Consumer Trends in the Oils & Fats Market in Spain, 2011" finds that affluent consumers held 55.1% of the market. On the contrary, the highly affluent consumers contributed only 6.4%.
Branded oils and fats dominated over private labels with oils and solid fats holding 73.2% and 62.4% respectively.
The market is mostly concentrated in the urban areas, at 80.7%, while there is only a marginal difference between female and male consumers, with the former contributing 53.2%.
Individuals aged above 55 years contributed the most to the market, holding a share of 32.1%, while pre-mid-lifers of 35-44 years figuring next in the list with 16.9%. However, tweens and early teens of 10-15 years stood at the bottom in the list, with 5.2% share.
Consumers who have done higher education at college level or similar held 28.9%, followed by those with undergraduate degree at 19.4%. Individuals who have completed pre-primary level of education held the least share, with 2.4%.
Those who have average more than seven hours of leisure time per day formed 34.1% of the market, followed by those who have average between three and five hours of leisure time per day, holding 24.6%. Consumers with average less than one hour of leisure time per day formed only 5% of the market.
Changing age structures and indulgence, with 53.3% and 36.3% respectively have been the most influencing trends for the consumption of oils and fats. Technology uptake was the least influencing trend, standing at 2.4%.
In terms of dollars, oils almost swayed the market over solid fats with the former holding 97% share.