Oils & Fats - Cameroon

Cameroon

Highlights

Revenue in the Oils & Fats market amounts to US$375.50m in 2024. The market is expected to grow annually by 13.61% (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$12.77 are generated in 2024.
In the Oils & Fats market, volume is expected to amount to 91.30m kg by 2029. The Oils & Fats market is expected to show a volume growth of 12.6% in 2025.0.
The average volume per person in the Oils & Fats market is expected to amount to 1.9kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Oils & Fats Market in Cameroon is witnessing subdued growth, influenced by factors such as fluctuating prices of raw materials, changing consumer preferences towards healthier options, and increased competition from imported products, which challenge local production dynamics.

Customer preferences: Consumers in Cameroon are increasingly prioritizing health-conscious choices in their dietary habits, driving a notable shift towards oils and fats with perceived health benefits, such as olive oil and avocado oil. This trend is further influenced by a growing awareness of nutrition among younger demographics, who are often more engaged with global wellness trends. Additionally, traditional cooking practices are evolving, as urbanization leads to busier lifestyles, prompting a demand for convenient yet healthier cooking oils that align with modern dietary preferences.

Trends in the market: In Cameroon, the Oils & Fats Market is experiencing a significant shift towards healthier cooking oils, driven by an increasing consumer focus on nutrition and wellness. This trend is particularly pronounced among younger populations, who are more influenced by global health movements and are seeking oils with beneficial properties, such as olive and avocado oil. The urbanization trend is also reshaping traditional cooking practices, as busy lifestyles create demand for convenient, health-oriented options. This evolving landscape presents both challenges and opportunities for industry stakeholders, necessitating innovation and adaptation to meet changing consumer preferences.

Local special circumstances: In Cameroon, the Oils & Fats Market is shaped by a rich culinary heritage that emphasizes local preferences and traditional cooking methods. The country's diverse geography, with its varied agricultural outputs, influences the availability of certain oils, such as palm oil, which remains a staple. However, rising health concerns are prompting consumers to explore alternatives like groundnut and sunflower oils. Additionally, regulatory initiatives aimed at improving food safety and quality are pushing producers to innovate, balancing cultural practices with modern health trends to meet evolving consumer demands.

Underlying macroeconomic factors: The Oils & Fats Market in Cameroon is significantly influenced by macroeconomic factors such as global commodity prices, national agricultural policies, and overall economic stability. Fluctuations in global oil prices can impact local production costs and consumer prices, affecting overall market demand. National economic health, characterized by GDP growth and inflation rates, also plays a crucial role in consumer purchasing power and preferences. Furthermore, fiscal policies aimed at supporting local agriculture and promoting food security can enhance the competitiveness of domestic oils while encouraging innovation in healthier alternatives. As consumers become more health-conscious, these economic indicators will shape the market's evolution.

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.