Key regions: Canada, Japan, United Kingdom, South Korea, United States
The Butter Market within the Oils & Fats sector in Angola is experiencing subdued growth, influenced by factors such as fluctuating dairy prices, limited local production capacity, and changing consumer preferences towards healthier fat alternatives.
Customer preferences: In Angola, there is a notable shift in consumer preferences towards healthier fat alternatives, influenced by a growing awareness of nutrition and wellness. This trend is particularly evident among younger demographics, who are increasingly seeking plant-based options and lower-fat spreads. Cultural influences, such as the rising popularity of international cuisine, are prompting consumers to explore diverse cooking oils. Additionally, urbanization and busy lifestyles are driving demand for convenient, ready-to-use products, further reshaping the butter market landscape within the Oils & Fats sector.
Trends in the market: In Angola, the Butter Market within the Oils & Fats sector is experiencing a significant shift towards healthier alternatives, driven by heightened consumer awareness of nutrition and wellness. Younger consumers are increasingly opting for plant-based spreads and lower-fat butter options, reflecting a broader trend towards health-conscious eating. The influence of international cuisine is encouraging the exploration of diverse butter products, while urbanization and fast-paced lifestyles are increasing the demand for convenient, ready-to-use options. These trends present both opportunities and challenges for industry stakeholders, necessitating adaptation to evolving consumer preferences.
Local special circumstances: In Angola, the Butter Market within the Oils & Fats sector is uniquely influenced by the country's rich cultural heritage and culinary traditions that prioritize local flavors. The geographical diversity of Angola, with its varied climates and agricultural practices, affects the sourcing of raw materials, impacting product availability and pricing. Additionally, regulatory frameworks governing food safety and labeling are evolving, pushing manufacturers to innovate while adhering to health standards. These local factors drive a distinct market dynamic as consumers balance traditional tastes with modern health trends.
Underlying macroeconomic factors: The Butter Market within Angola's Oils & Fats sector is significantly shaped by macroeconomic factors such as inflation rates, currency stability, and agricultural productivity. Fluctuations in global oil prices can affect the cost of production and transportation, impacting butter pricing and availability. Angola's national economic health, characterized by GDP growth and employment rates, influences consumer purchasing power and demand for premium butter products. Additionally, fiscal policies aimed at boosting agriculture and food production can enhance local sourcing, while international trade agreements may open up new markets for Angolan butter, creating opportunities for growth amidst global competition.
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.
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