Oils & Fats - Gabon

Gabon

Highlights

Revenue in the Oils & Fats market amounts to US$81.03m in 2024. The market is expected to grow annually by 3.94% (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$32.61 are generated in 2024.
In the Oils & Fats market, volume is expected to amount to 15.92m kg by 2029. The Oils & Fats market is expected to show a volume growth of 1.3% in 2025.0.
The average volume per person in the Oils & Fats market is expected to amount to 6.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Oils & Fats market in Gabon is experiencing minimal growth, influenced by factors such as fluctuating consumer preferences, competition from imported products, and rising health consciousness. These dynamics are shaping the landscape of this essential sector.

Customer preferences: Consumers in Gabon are increasingly prioritizing health and sustainability in their food choices, resulting in a growing demand for organic and natural oils, such as palm and coconut oils. This shift is influenced by a younger demographic that is more health-conscious and aware of the benefits of healthy fats. Additionally, traditional cooking practices are being adapted, with a preference for oils that are perceived as health-promoting. Social media platforms are playing a significant role in shaping these preferences, as influencers advocate for healthier cooking options.

Trends in the market: In Gabon, the Oils & Fats market is experiencing a notable shift towards organic and natural oils, driven by a health-conscious younger demographic prioritizing sustainability. Consumers are increasingly favoring palm and coconut oils, which they associate with health benefits and traditional cooking practices. This trend is significantly influenced by social media, where influencers promote healthier cooking alternatives. As a result, industry stakeholders must adapt their product offerings and marketing strategies to capitalize on this growing demand for healthier oil options, ensuring alignment with consumer values for sustainability and health.

Local special circumstances: In Gabon, the Oils & Fats market is shaped by the country's rich biodiversity, providing a variety of locally sourced oils such as palm and cashew. Cultural practices emphasize traditional cooking methods that favor these oils, enhancing their appeal among consumers. Additionally, Gabon's regulatory framework is increasingly promoting sustainable palm oil production, aligning with global standards. This combination of local sourcing, cultural affinity for traditional oils, and a supportive regulatory environment fosters a unique market dynamic, driving demand for organic and ethically produced oils.

Underlying macroeconomic factors: The Oils & Fats market in Gabon is significantly influenced by macroeconomic factors such as global commodity prices, trade policies, and national economic stability. Fluctuations in the price of palm oil on the international market can directly affect local producers' profitability and consumer pricing. Gabon's focus on diversifying its economy beyond oil dependency can enhance investment in the agricultural sector, particularly in sustainable practices. Furthermore, supportive fiscal policies aimed at fostering local production and exportation of oils align with global sustainability trends, creating opportunities for market expansion. The overall economic health, characterized by GDP growth and consumer spending patterns, also plays a critical role in shaping demand for oils and fats in The Food market.

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.