Non-GMO edible oil market enters a phase of rapid expansion

China's non-GMO edible oil market is expanding rapidly, with market share relatively concentrated. Coupled with the cost advantage brought by falling international oil prices, judging from consumption trends, this market will usher in a rapid boom period in the next 2-3 years, both in terms of merchant promotion and consumer mindset.

⟦NL> This is what the reporter learned from the Pearl River Delta edible oil distributors' channel development conference, which just concluded in Nanning, Guangxi. China currently has a 26 million-ton edible oil market, with small-packaged edible oil accounting for less than 20%, while bulk oil accounts for more than 80%. This means that the market share of branded small-packaged edible oil in China can be further expanded, and among small-packaged oils, the one with the largest share of market growth is non-GMO edible oil.

Industry insiders say that there are currently dozens of varieties of non-GMO edible oil on the market, including corn oil, sunflower seed oil, phytosterol corn oil, peanut oil, rice oil, camellia seed oil, golden ratio blend oil, soybean oil, rapeseed oil, etc. Chen Bo, general manager of a food marketing Co., Ltd., said that non-GMO edible oil entered the Chinese market as early as 1991, but it was not until 2005 to 2006 that it began to be recognized by Chinese consumers. “Non-GMO edible oil will usher in an era of explosive growth in the next 1-2 years.”

Industry insiders revealed that because China's non-GMO soybean supply mainly comes from overseas markets, the landed prices of non-GMO soybeans from Australia, Brazil, Argentina and other countries have continued to decline in recent years along with the drop in international oil prices, which has freed up more profit margin for the domestic edible oil market.