Edible Oils - Ethiopia | Statista Market Forecast

Revenue in the Edible Oils market amounts to US$420.70m in 2024. The market is expected to grow annually by 21.90% (CAGR 2024-2029).
In global comparison, most revenue is generated India (US$35bn in 2024).
In relation to total population figures, per person revenues of US$3.24 are generated in 2024.
In the Edible Oils market, volume is expected to amount to 101.00m kg by 2029. The Edible Oils market is expected to show a volume growth of 13.4% in 2025.0.
The average volume per person in the Edible Oils market is expected to amount to 0.51kg in 2024.

Definition:

The Edible Oils market covers any type of oil that is extracted from plants and nuts and is used for cooking and food preparation.

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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Olive oil
Sunflower oil
Other edible oils (e.g. palm, soybean, coconut oil, canola oil, rapeseed oil, sesame oil, soybean oil)
Cooking oil blends

Butter
Margarine
Animal fats (e.g. lard)
Out-of-home consumption

The Edible Oils Market in Ethiopia is experiencing steady growth, influenced by factors such as increasing population demand, rising health consciousness, and the shift towards healthier cooking alternatives. This growth reflects changing consumer preferences and economic conditions.

Customer preferences: Consumers in Ethiopia are increasingly prioritizing health and wellness, prompting a shift towards high-quality, organic, and locally sourced edible oils. Younger demographics, particularly urban dwellers, are showing a preference for oils rich in omega-3 and omega-6 fatty acids, aligning with global trends toward healthier diets. Additionally, the growing influence of social media is driving awareness of traditional cooking methods that utilize indigenous oils, fostering a blend of cultural heritage and modern health consciousness in their dietary choices.

Trends in the market: In Ethiopia, the Edible Oils Market is experiencing a notable shift towards health-oriented products, with consumers increasingly favoring high-quality, organic, and locally sourced oils. This trend is particularly pronounced among younger, urban populations who are seeking oils rich in omega-3 and omega-6 fatty acids, reflecting a broader global movement towards healthier eating habits. The rise of social media is further enhancing awareness of traditional cooking methods that utilize indigenous oils, merging cultural heritage with modern health consciousness. This evolution holds significant implications for industry stakeholders, who may need to adapt their offerings and marketing strategies to align with the growing demand for healthier, culturally relevant products.

Local special circumstances: In Ethiopia, the Edible Oils Market is significantly influenced by the country's diverse agricultural landscape, which supports the cultivation of various oilseeds such as sesame and sunflower. Cultural preferences for traditional oils, like flaxseed and niger seed, are shaping consumer choices, particularly among local populations that value heritage recipes. Additionally, regulatory efforts aimed at promoting organic farming practices are bolstering the appeal of sustainably produced oils. These unique factors create a distinct market dynamic, encouraging innovation while preserving cultural authenticity in oil production and consumption.

Underlying macroeconomic factors: The Edible Oils Market in Ethiopia is shaped by several macroeconomic factors, including global commodity prices, national agricultural productivity, and trade policies. Fluctuations in oilseed prices on the global market significantly impact local production costs and consumer pricing. Economic health indicators like GDP growth and inflation rates influence disposable income, affecting consumer purchasing power and preferences. Furthermore, fiscal policies promoting agricultural investment and infrastructure development enhance oil production efficiency. The interplay of these factors fosters a competitive landscape, encouraging local farmers to innovate while adapting to changing market demands and global trends.

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.