Oils & Fats - Algeria

Algeria

Highlights

Revenue in the Oils & Fats market amounts to US$423.70m in 2024. The market is expected to grow annually by 11.05% (CAGR 2024-2029).
In global comparison, most revenue is generated India (US$46bn in 2024).
In relation to total population figures, per person revenues of US$9.15 are generated in 2024.
In the Oils & Fats market, volume is expected to amount to 76.10m kg by 2029. The Oils & Fats market is expected to show a volume growth of 3.6% in 2025.0.
The average volume per person in the Oils & Fats market is expected to amount to 1.4kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Oils & Fats Market in Algeria is experiencing subdued growth, influenced by factors such as fluctuating commodity prices, shifting consumer preferences towards healthier options, and increasing competition from imported products, which challenge local production.

Customer preferences: Consumers in Algeria are increasingly prioritizing health and wellness in their dietary choices, prompting a notable shift towards oils and fats that are perceived as healthier, such as olive oil and avocado oil. This trend is bolstered by a growing awareness of the benefits of unsaturated fats and a cultural inclination towards Mediterranean diets. Additionally, younger demographics are more inclined to experiment with diverse cooking oils, reflecting a broader acceptance of global culinary practices, which influences their purchasing decisions in the oils and fats market.

Trends in the market: In Algeria, the Oils & Fats market is experiencing a significant shift towards healthier options, with consumers increasingly favoring oils like olive and avocado due to their perceived health benefits. This trend is fueled by a rising awareness of the advantages of unsaturated fats and a cultural affinity for Mediterranean diets. Younger consumers are also exploring diverse cooking oils, indicating a broader acceptance of global culinary influences. These developments present opportunities for industry stakeholders to innovate and adapt product offerings, ultimately enhancing market competitiveness and catering to evolving consumer preferences.

Local special circumstances: In Algeria, the Oils & Fats market is shaped by unique local factors, including a rich agricultural landscape that supports the cultivation of olive trees and other oil-producing crops, fostering a strong cultural connection to these products. Traditional Mediterranean dietary practices influence consumer preferences, leading to a preference for oils with health benefits. Additionally, government regulations promoting local production and reducing import dependency have spurred growth in domestic oil brands, enhancing market competition and encouraging innovation to meet evolving consumer demands.

Underlying macroeconomic factors: The Oils & Fats market in Algeria is significantly influenced by macroeconomic factors such as global oil price fluctuations, national economic stability, and government fiscal policies. The country's reliance on oil exports makes its economy sensitive to global commodity price changes, directly impacting domestic oil production costs. Furthermore, fiscal policies aimed at promoting local agricultural initiatives enhance the competitiveness of domestic fats and oils, encouraging innovation and diversification within the market. Consumer demand for healthier options, driven by international trends towards wellness, also shapes product offerings, as businesses adapt to meet the shifting preferences of health-conscious consumers.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.