Oils & Fats - Central Africa

Central Africa

Highlights

Revenue in the Oils & Fats market amounts to US$1.65bn in 2024. The market is expected to grow annually by 9.57% (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$17.06 are generated in 2024.
In the Oils & Fats market, volume is expected to amount to 459.60m kg by 2029. The Oils & Fats market is expected to show a volume growth of 4.5% in 2025.0.
The average volume per person in the Oils & Fats market is expected to amount to 3.9kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Oils & Fats Market within The Food market in Central Africa is witnessing minimal growth, influenced by factors such as fluctuating agricultural outputs, limited consumer awareness, and competition from imported products, which collectively impact local production dynamics.

Customer preferences: Consumers in Central Africa are increasingly prioritizing health-conscious choices in their dietary habits, leading to a growing demand for oils and fats perceived as healthier options, such as olive oil and coconut oil. This shift reflects a rising awareness of the link between diet and health, especially among younger demographics and urban populations. Additionally, traditional cooking practices are evolving, with many embracing modern culinary techniques that emphasize quality and sustainability, further influencing purchasing decisions in the Oils & Fats Market.

Trends in the market: In Central Africa, the Oils & Fats Market is experiencing a notable shift towards healthier options, with consumers increasingly favoring oils such as olive and coconut oil over traditional choices. This trend is fueled by a heightened awareness of health impacts associated with dietary fats, particularly among younger, urban populations. As traditional cooking practices adapt to modern culinary techniques, there is a growing emphasis on quality and sustainability. This evolving landscape presents significant opportunities for industry stakeholders, including producers and retailers, to innovate and align their offerings with consumer preferences, thereby enhancing market competitiveness.

Local special circumstances: In Central Africa, the Oils & Fats Market is uniquely influenced by a blend of geographical diversity and rich culinary traditions. The region's climate supports a variety of oil-producing crops, such as palm and groundnut, which are integral to local cuisines. Cultural preferences for traditional cooking methods coexist with a modern push for healthier alternatives, leading to a gradual shift in consumer choices. Additionally, regulatory frameworks aimed at food safety and sustainability are shaping production practices, creating a dynamic market that prioritizes both health and heritage while presenting opportunities for innovative product development.

Underlying macroeconomic factors: The Oils & Fats Market in Central Africa is significantly shaped by macroeconomic factors including agricultural productivity, commodity prices, and foreign investment. As global demand for vegetable oils rises, fluctuations in oil prices can directly affect local production costs and consumer prices. National economic health, characterized by GDP growth and inflation rates, influences consumer purchasing power and preferences for both traditional and healthier oil options. Additionally, fiscal policies promoting agricultural innovation and sustainability are fostering a more resilient supply chain, enabling producers to adapt to market changes while ensuring food safety and quality standards. This dynamic environment presents opportunities for growth and diversification in the oils and fats sector.

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.