Margarine - Namibia | Statista Market Forecast

Revenue in the Margarine market amounts to US$31.55m in 2024. The market is expected to grow annually by 6.99% (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$11.93 are generated in 2024.
In the Margarine market, volume is expected to amount to 9.23m kg by 2029. The Margarine market is expected to show a volume growth of 2.0% in 2025.0.
The average volume per person in the Margarine market is expected to amount to 3.09kg 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 in Namibia has shown minimal growth, influenced by factors such as limited consumer awareness, competition from traditional fats, and fluctuating prices of raw materials. These elements hinder broader acceptance and expansion within the food sector.

Customer preferences: In Namibia, there is a growing trend among consumers towards healthier eating habits, prompting an increasing interest in plant-based and low-fat alternatives, including margarine. This shift is influenced by rising health awareness, particularly among younger demographics who prioritize nutritional labels and ingredients. Additionally, the urbanization of the population has led to busier lifestyles, resulting in a demand for convenient cooking solutions. Cultural preferences for traditional fats, however, continue to challenge the wider acceptance of margarine, necessitating targeted education and marketing efforts.

Trends in the market: In Namibia, the margarine market within the oils and fats sector is experiencing a notable shift towards healthier product options, driven by a younger population increasingly focused on dietary health. This trend is complemented by the rise of plant-based diets and a preference for low-fat spreads, which reflect a broader global movement towards wellness. Furthermore, the urban lifestyle is creating demand for quick and convenient food preparation solutions. However, traditional culinary preferences for animal fats pose a challenge, highlighting the need for educational initiatives and strategic marketing to promote margarine as a viable alternative.

Local special circumstances: In Namibia, the margarine market within the oils and fats sector is influenced by unique local factors, including a diverse cultural landscape that favors traditional cooking methods. The prevalence of indigenous diets, which often emphasize animal fats, creates a challenge for promoting margarine. Additionally, Namibia's geographical diversity impacts distribution channels, making urban centers more accessible for health-oriented products. Regulatory frameworks supporting food labeling and health claims are also evolving, potentially accelerating consumer awareness and acceptance of margarine as a healthier alternative.

Underlying macroeconomic factors: The margarine market in Namibia is significantly influenced by macroeconomic factors such as national economic health, consumer spending patterns, and fiscal policies. With fluctuations in global oil prices affecting local production costs, the affordability of margarine becomes a critical factor for consumers. Additionally, Namibia's economic stability and growth prospects can enhance disposable income, potentially increasing demand for margarine as a versatile cooking alternative. Government initiatives promoting healthy eating and nutrition awareness further support market growth. Furthermore, the rising influence of global health trends encourages local consumers to consider margarine as a healthier fat option, aligning with broader dietary shifts.

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.