Oils & Fats - Burundi

Burundi

Highlights

Revenue in the Oils & Fats market amounts to US$90.01m in 2024. The market is expected to grow annually by 9.62% (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$6.62 are generated in 2024.
In the Oils & Fats market, volume is expected to amount to 16.62m kg by 2029. The Oils & Fats market is expected to show a volume growth of 5.0% in 2025.0.
The average volume per person in the Oils & Fats market is expected to amount to 1.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Oils & Fats market in Burundi is witnessing subdued growth, influenced by factors such as limited consumer awareness, fluctuating prices, and competition from imported products. Despite these challenges, there remains a steady demand for diverse cooking options among consumers.

Customer preferences: In Burundi, consumers are showing a growing interest in healthier cooking oils, driven by a shift towards wellness and nutrition awareness. This trend is influenced by younger demographics, who prioritize natural and organic products as part of their modern lifestyle. Additionally, urbanization is leading to a rise in convenience-focused cooking options, prompting demand for ready-to-use oils. Cultural nuances, such as the preference for traditional cooking methods, still play a role, but there is a noticeable shift towards integrating diverse culinary practices.

Trends in the market: In Burundi, the Oils & Fats Market is experiencing a notable shift towards healthier options, with consumers increasingly favoring oils rich in omega-3 and omega-6 fatty acids. This trend is partly driven by a younger population that values nutrition and wellness, leading to a rise in the demand for organic and natural oils. Simultaneously, urbanization is fostering a preference for convenience, resulting in greater interest in ready-to-use cooking oils. While traditional methods remain important, the blending of modern and cultural culinary practices signals significant opportunities for industry stakeholders to innovate and cater to evolving consumer preferences.

Local special circumstances: In Burundi, the Oils & Fats Market is shaped by unique local factors such as the agricultural landscape and traditional dietary habits. The country’s fertile soil supports the cultivation of oilseeds like sunflower and palm, creating opportunities for local production. Additionally, cultural cuisine emphasizes the use of traditional fats, influencing consumer preferences. Regulatory frameworks encouraging organic farming practices further boost the demand for natural oils. These elements combine to create a distinctive market environment, fostering innovation while preserving cultural culinary roots.

Underlying macroeconomic factors: The Oils & Fats Market in Burundi is significantly influenced by macroeconomic factors such as agricultural productivity, trade policies, and consumer income levels. Global trends in commodity prices impact the cost of oilseeds, affecting local production costs and market pricing. National economic health, characterized by GDP growth and inflation rates, determines consumer purchasing power, influencing demand for both traditional and alternative oils. Additionally, fiscal policies that promote agricultural investments and support for smallholder farmers enhance local oil production capabilities. These elements collectively shape the dynamics of the Oils & Fats Market, balancing traditional practices with modern economic pressures.

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.