Key regions: South Korea, United Kingdom, United States, Philippines, China
The Edible Oils Market in Zambia is witnessing minimal growth, influenced by factors such as fluctuating commodity prices, limited consumer purchasing power, and competition from imported oils, which challenge local producers and hinder market expansion.
Customer preferences: Consumers in Zambia are increasingly favoring healthier and more sustainable edible oil options, reflecting a growing awareness of nutrition and environmental impact. This shift is evident in the rising demand for oils derived from local sources, such as groundnuts and sunflower, as consumers seek to support local agriculture and reduce their carbon footprint. Furthermore, younger demographics are more inclined towards organic and non-GMO products, indicating a trend towards transparency and quality in food choices, which challenges traditional preferences for mainstream imported oils.
Trends in the market: In Zambia, the Edible Oils Market is experiencing a notable shift towards healthier and more sustainable options, driven by a rising consumer preference for oils sourced from local crops like groundnuts and sunflower. This trend signifies a deeper awareness of nutrition and environmental impact among consumers. Additionally, younger demographics are increasingly inclined towards organic and non-GMO products, fostering a demand for transparency and quality. For industry stakeholders, this evolving landscape presents both challenges and opportunities, encouraging local production and innovation while necessitating adaptation to shifting consumer preferences.
Local special circumstances: In Zambia, the Edible Oils Market is shaped by a rich agricultural landscape, where local crops like groundnuts and sunflower thrive due to favorable climatic conditions. Cultural factors play a significant role, as traditional cooking methods favor the use of locally sourced oils, promoting community engagement and preserving heritage. Regulatory frameworks increasingly support sustainable farming practices, incentivizing local production. This unique combination of geography, culture, and policy not only enhances market dynamics but also bolsters the push towards healthier consumption patterns among Zambian consumers.
Underlying macroeconomic factors: The Edible Oils Market in Zambia is significantly influenced by macroeconomic factors, including global commodity price fluctuations, national economic stability, and fiscal policies aimed at agriculture. As global demand for edible oils rises, local producers face both opportunities and challenges related to pricing and competition. The Zambian economy's health, reflected in GDP growth and inflation rates, impacts consumer purchasing power and demand for locally sourced oils. Furthermore, government initiatives promoting agricultural subsidies and investments in infrastructure enhance production efficiency, helping to stabilize the market while aligning with growing consumer preferences for healthier, sustainable options.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
