The climate of the cooking oil market is changing this year. In today’s market, artisan oils are becoming increasingly popular, continuing the trend of the past few years. Nevertheless, there’s plenty of global demand for all types of cooking oil. The industry is hard to navigate, but we’re here to help your business adapt. Keep reading to find out how to optimize your cooking oil business!
What are the Cooking Oil Business Trends?
Cooking oil is a major global product, with Asian and Pacific regions holding a large share of the market. Moreover, the cooking oil market is expected to increase by 3.25% by 2025. Palm oil and soybean oil see the most demand, but the industry is still plenty competitive for less-used products like olive oil and coconut oil.
Types of Edible Oils
As trends change, the popularity of different cooking oils fluctuates. Currently, many consumers are looking for non-GMO alternatives to popular cooking oils. Thus, people are cooking less with vegetable oil and instead using avocado oil as a healthier substitute. Both products work well for deep frying and have high smoke points.
Coconut oil has also become popular due to its possible health benefits. While moderation is still advised, many consumers have flocked to coconut oil after buzz began about its aid in heart health and weight loss.
Artisan Cooking Oils
Luxury oils have almost become popular in recent years. Shoppers now find cooking oils infused with lemon, rosemary, and other unique flavors. Some are suited for salad dressings, while others work great in dipping oils.
Finishing oils, those used for flavor near the end of the cooking process, are also trending artisan choices. Some more popular options include sesame oil and nut-based alternatives like walnut oil.
How to Develop Objectives for Your Marketing Plan
You may be getting a new cooking oil business up and running. Or, perhaps you’ve already begun and you just want tips for increasing sales in the remainder of the year. Below are a few objectives to keep in mind as you work to build or improve your business.
New Cooking Oil Businesses
If you’re just getting started, begin your journey into the industry with market research. Try to find niche products you can sell; these will separate you from your future competitors.
Since your business is still small, look at product offerings from similar companies. You’ll learn plenty by observing what others have been able to start up from a similar budget.
A New Year with Your Oil Business
A straightforward strategy to increase sales is to rework your product listings. Is it time to take the least-popular item off the shelves? If so, consider running a flash sale with email marketing and social media promos to liquidate the inventory.
Your best-sellers are popular for a reason; people love the product, and they keep coming back to the store for it. Consider creating sample sizes for your top items to get new customers attached just the same. Or, partner with another business to cross-sell your top oil with dipping seasonings.
Cooking Oil Business Marketing Ideas
Especially in a competitive industry like cooking oil, strong marketing efforts are necessary for success. Effective marketing yields a returning customer base while constantly piquing the interest of new customers.
Show Customers How to Use Your Cooking Oils
Tutorials and informational content are often successful with returning audiences. Videos are a great medium for this content; they fit nicely on your business’ website, Instagram reels, and YouTube channel.
Package your edible oils with a few recipe cards—or go digital with a QR code. Right from the packaging label, your QR code links customers to a recipe blog, a tutorial video on social media, or a guide on your website.
Personalization is Key
Personalized packaging opens the door to new customers. Personalized products are often shared through gifts and events. Thus, this strategy often introduces your product to multiple households with every sale.
Consider custom labels for smaller-sized bottles. These are popular in gift sets, weddings, and other get-togethers. Keep reading to find our selection of cooking oil packaging that will complement your custom labels.
Take Your Cooking Oil Business to Social Media
Social media platforms are central to a good cooking oil marketing strategy. You’ll see engagement from a common follower base on channels like Instagram, Meta, and YouTube. More importantly, your business will welcome plenty of new customers through social media.
The future of social media is on TikTok. Short-form video channels like Instagram Reels and YouTube Shorts are also great places where you can upload the same content. Through short videos, engage with new customers by quickly explaining how to use your edible oils.
Recipe videos trend particularly well on channels like TikTok. Consider a simple, 30-second video creating a quick dipping oil, salad dressing, or marinade. If you have the budget, use advertising to boost your videos to more users.
Cooking Oil Packaging
Many cooking oils are pourable, while some others are scoopable instead. Because of varying traits like these, different oils fit best in different types of packaging.
Nut oils, olive oil, avocado oil, and more are best suited in bottles with pour spouts or cork tops. On the other hand, coconut oil and ghee are thicker than most oils; consider packaging products like these with a jar and spoon.
There’s no doubt that healthy cooking oils are becoming popular. Although palm oil and soybean oil lead the market, many are choosing healthier options when cooking at home. Your business can work with the trends! Between inventory management and developing your marketing channels, there’s always room to improve your strategy and sales.
For all your packaging needs, check out our wide selection of wholesale cooking oil bottles.