Butter - Gabon | Statista Market Forecast

Revenue in the Butter market amounts to US$2.44m in 2024. The market is expected to grow annually by 2.28% (CAGR 2024-2029).
In global comparison, most revenue is generated India (US$7bn in 2024).
In relation to total population figures, per person revenues of US$0.98 are generated in 2024.
In the Butter market, volume is expected to amount to 178.00k kg by 2029. The Butter market is expected to show a volume growth of -1.1% in 2025.0.
The average volume per person in the Butter market is expected to amount to 0.07kg in 2024.

Definition:

Butter is a dairy product made up of several components, such as milk fat, milk proteins, and water. Butter contains a minimum of 80% fat and is widely used in baking and cooking, and as a flavor enhancer for a variety of dishes.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

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Salted butter
Unsalted butter
Cultured butter
Light butter
Flavored butter

Margarine
Vegetable oils
Other animal fats (e.g. lard)
Clarified butter (Ghee)
Peanut butter
Out-of-home consumption

The Butter Market in Gabon has experienced negligible growth, influenced by factors such as limited local production, reliance on imports, and fluctuating consumer preferences towards healthier alternatives, impacting overall demand within the Oils & Fats sector.

Customer preferences: In Gabon, consumer preferences in the Butter Market are shifting towards healthier fats, as individuals become more health-conscious and aware of nutritional content. This trend is influenced by a growing middle class and an increase in urbanization, leading to higher demand for health-oriented products. Additionally, younger demographics are increasingly favoring plant-based alternatives and natural spreads, reflecting a cultural movement towards sustainable and organic food choices. These evolving lifestyle factors are reshaping the Oils & Fats sector, prompting manufacturers to innovate and diversify their product offerings.

Trends in the market: In Gabon, the Butter Market is experiencing a significant shift towards healthier, more natural products, driven by an increasingly health-conscious consumer base. The rise of the middle class and urbanization is fueling demand for butter alternatives that prioritize nutritional benefits, such as reduced fat and organic options. Concurrently, younger consumers are gravitating towards plant-based spreads, reflecting a broader cultural move towards sustainability. These trends are prompting industry stakeholders to innovate, as they adapt to changing consumer preferences and explore new product lines that align with health and environmental values.

Local special circumstances: In Gabon, the Butter Market is shaped by unique geographical and cultural factors, including a rich agricultural landscape that supports local dairy farms and a strong tradition of communal eating. As urbanization accelerates, consumers are increasingly influenced by global nutrition trends while also valuing local ingredients. Regulatory frameworks promoting organic farming and sustainable practices are further encouraging the development of healthier butter alternatives. This blend of local tradition and modern health consciousness is driving innovation in product offerings, catering to a diverse consumer base that prioritizes both health and cultural authenticity.

Underlying macroeconomic factors: The Butter Market in Gabon is significantly influenced by macroeconomic factors such as national economic growth, import/export dynamics, and consumer spending patterns. As Gabon experiences fluctuations in oil prices, which impact national revenue, disposable income levels are affected, subsequently influencing consumer purchasing power for premium butter products. Additionally, the rise of global health trends and increasing demand for natural and organic food products are prompting local producers to innovate and diversify their offerings. Government initiatives aimed at supporting agriculture and dairy sectors through favorable fiscal policies further stimulate market growth, aligning local production with increasing urban consumer preferences for quality and sustainability.

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.