How does the Dominican Republic consumer perceive olive oil?

Published 2021년 6월 24일

Tridge summary

The Dominican Republic's edible oils market has seen a surge in growth, with olive oil leading the charge due to increasing health consciousness among consumers. This growth is attributed to distribution industry advances, urbanization, tourism, and increased income per capita. Despite the market's maturity, COVID-19 has further fueled demand. Sales forecasts predict continued olive oil growth until 2025. The market consists of wholesale, retail, and Horeca sectors, with e-commerce's role increasing. The Economic Association Agreement between the European Union and the Dominican Republic allows for zero tariffs on EU products, and it is suggested that entering the market through local partners is the best strategy. However, the oil market's growth is expected to slow down, possibly leading to the exit of some brands, the rise of private labels, or a shift in focus towards other products.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In recent years, the supply of the edible oils sector in the Dominican Republic has increased, mainly due to the development of the distribution industry. The size of the stores, the diversification of products and services and the distribution model have undergone significant changes that, added to the moderate but sustained population growth of recent years, the advance of urbanization, tourism promotion and the increase in income per capita, have caused the Dominican market demand for olive products to continue to grow despite an increasingly clear maturity trend. According to the ICEX study, the olive oil item has grown between 2015 and 2020 in its sales volume of 17.6%, very close to the average for the sector, which stands at 19.3%. The categories with the lowest growth are sunflower oil (-0.5%) with negative growth, followed by palm oil with 9.4% for the same period. The largest growth is observed in the category of other oils, due to the increase in the consumption of oils ...

Source: Mercacei