Margarine - Equatorial Guinea | Statista Market Forecast

Revenue in the Margarine market amounts to US$48.46m in 2024. The market is expected to grow annually by 7.53% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$5bn in 2024).
In relation to total population figures, per person revenues of US$27.61 are generated in 2024.
In the Margarine market, volume is expected to amount to 11.12m kg by 2029. The Margarine market is expected to show a volume growth of 4.9% in 2025.0.
The average volume per person in the Margarine market is expected to amount to 5.06kg in 2024.

Definition:

Margarine is a butter substitute made from vegetable oils and contains a minimum of 80% fat. Margarine is typically less expensive and has less saturated fat than butter.

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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Regular margarine
Light or reduced-fat margarine
Soft margarine
Non-hydrogenated margarine
Cholesterol-free margarine
Vanaspati

Butter
Vegetable oils
Animal fats (e.g. lard)
Peanut butter
Out-of-home consumption

The Margarine market within the Oils & Fats sector in Equatorial Guinea is experiencing minimal growth, influenced by factors such as limited consumer awareness, preference for traditional fats, and economic constraints affecting purchasing power.

Customer preferences: In Equatorial Guinea, there's a subtle shift towards healthier eating habits, with consumers gradually becoming more aware of nutritional content in their diets. This awareness is sparking interest in margarine as a potential alternative to traditional fats, particularly among younger demographics seeking convenience and health benefits. Additionally, as urbanization increases, busy lifestyles are prompting a demand for easy-to-use cooking products. However, cultural preferences still favor traditional fats, creating a complex landscape for the margarine market to navigate.

Trends in the market: In Equatorial Guinea, the margarine market is experiencing a notable shift towards healthier options as consumers become more health-conscious, particularly among younger populations. This increasing awareness is leading to a growing interest in margarine as a versatile alternative to traditional fats, especially in urban areas where convenience is key. As lifestyles become busier, the demand for easy-to-use cooking solutions intensifies. However, cultural preferences for traditional fats pose a challenge, creating a complex environment for industry stakeholders to navigate. This dynamic landscape presents opportunities for innovative marketing strategies and product development focused on health benefits and convenience.

Local special circumstances: In Equatorial Guinea, the margarine market is influenced by a combination of local dietary habits and geographical factors. The country’s rich culinary traditions emphasize the use of palm oil and traditional fats, which can hinder the acceptance of margarine as a staple. However, urbanization is driving a shift towards convenience, with a younger demographic increasingly embracing healthier alternatives. Additionally, regulatory frameworks surrounding food safety and labeling are evolving, encouraging transparency and innovation in product offerings. This interplay of tradition and modernity shapes the dynamic margarine market.

Underlying macroeconomic factors: The margarine market in Equatorial Guinea is influenced by macroeconomic factors such as national economic health, consumer spending habits, and global commodity prices. Economic growth, driven by oil exports, has increased disposable income, allowing consumers to explore diverse dietary options, including margarine. However, fluctuations in global palm oil prices can directly impact margarine production costs. Additionally, government fiscal policies promoting food security and local production are fostering a more competitive market. As urbanization progresses, the demand for convenience and healthier food options is expected to rise, further shaping the margarine landscape in the country.

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.