Edible Oils - Niger | Statista Market Forecast

Revenue in the Edible Oils market amounts to US$100.00m in 2024. The market is expected to grow annually by 6.21% (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$3.54 are generated in 2024.
In the Edible Oils market, volume is expected to amount to 18.94m kg by 2029. The Edible Oils market is expected to show a volume growth of 4.7% in 2025.0.
The average volume per person in the Edible Oils market is expected to amount to 0.56kg 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 within the Oils & Fats sector in Niger is experiencing minimal growth, impacted by factors such as fluctuating raw material prices, limited consumer purchasing power, and competition from alternative cooking oils and fats.

Customer preferences: Consumers in Niger are increasingly prioritizing health-conscious choices in their cooking oils, leading to a growing interest in oils that are perceived as healthier, such as olive and sunflower oil. This shift is influenced by a rising awareness of the nutritional value of different fats, particularly among younger demographics who are more exposed to global dietary trends through social media. Additionally, urbanization and busy lifestyles are prompting a demand for convenient, ready-to-use oil blends that cater to quick meal preparations while still aligning with traditional cooking practices.

Trends in the market: In Niger, the Edible Oils Market is experiencing a shift towards health-conscious options, with consumers increasingly favoring oils perceived as healthier, such as olive and sunflower oil. This trend is particularly pronounced among younger populations who are influenced by global dietary practices showcased on social media. Additionally, urbanization is driving demand for convenient oil blends that facilitate quick meal preparation while respecting traditional cooking methods. These changes present significant opportunities for industry stakeholders to innovate and cater to evolving consumer preferences, potentially reshaping product offerings and marketing strategies.

Local special circumstances: In Niger, the Edible Oils Market is shaped by unique local factors, including a reliance on traditional cooking practices and the diverse culinary landscape influenced by various ethnic groups. The country's agricultural output, particularly in crops like groundnuts and sesame, affects the availability and pricing of locally sourced oils. Additionally, regulatory frameworks surrounding food safety and labeling are evolving, prompting consumers to seek transparency in product sourcing. These dynamics influence consumer preferences, driving demand for locally produced oils that align with cultural practices while also adapting to modern health trends.

Underlying macroeconomic factors: The Edible Oils Market in Niger is significantly influenced by macroeconomic factors such as agricultural productivity, global commodity prices, and fiscal policies. Fluctuations in oilseed prices on international markets directly impact local production costs and pricing structures for edible oils. Furthermore, national economic health, characterized by GDP growth and inflation rates, affects consumer purchasing power and demand for various oil types. Government policies promoting agricultural development and food security initiatives also play a crucial role in enhancing local oil production. As Niger navigates these economic dynamics, consumer preferences increasingly reflect a desire for affordable, healthy, and culturally relevant oils.

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.