Per capita fat consumption

IBISWorld forecasts per capita fat consumption in Australia to fall by 0.5% in 2024, to 60.8 kilograms per capita. The decline is a slight correction after strong growth over the past five years. Vegetable oils are a major contributor to fat consumption, and vegetable oil consumption is set increase in 2024. However, this is offset by a drop in milk consumption, meat consumption and a decline in demand in the food service sector.

Fat consumption per capita has gradually increased over the past four decades with only short downward trends, which runs counter to rising health consciousness and healthy trends like rising gym membership and falling alcohol consumption. A significant contributor has been the rising use of vegetable oils in food services and manufacturing sectors since the 1960s. The proliferation of vegetable oils in food service meals and supermarket products has made it harder and harder to avoid consuming them. This trend has continued over the past five years, and when coupled with increased expenditure on fast food services and eating out, has led to a strong growth in fat consumption per capita.

Meat and milk consumption are major contributors to overall fat consumption per capita. As opposed to vegetable oil consumption, milk and meat consumption has been weighed down by a range of factors. Growing awareness of lactose intolerance as well as rising rates of veganism have led to a steady decline in milk consumption over the past five years. Meanwhile, surging prices domestic meat prices and increased vegetarianism and veganism have limited growth in meat consumption. Nevertheless, these downward trends were not enough to offset rising vegetable oil consumption and increased demand for food services. Indeed, demand at restaurants, fast food and takeaway shops and cafes, reached record highs after the end of lockdowns and restrictions. Overall, per capita fat consumption is forecast to increase at a compound annual rate of 0.8% over the five years through 2024.