Skip to main content
  1. Market Insights
  2. Consumer
  3. Food
  4. Oils & Fats

Margarine - Senegal

Senegal
  • Revenue in the Margarine market amounts to US$101.70m in 2024. The market is expected to grow annually by 3.61% (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$5.58 are generated in 2024.
  • In the Margarine market, volume is expected to amount to 19.25m kg by 2029. The Margarine market is expected to show a volume growth of 1.4% in 2025.0.
  • The average volume per person in the Margarine market is expected to amount to 0.99kg 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.

For more information on the displayed data, click the info button on the right side of each box.

In-Scope

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

Out-Of-Scope

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

Revenue

Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Sep 2024

Source: Statista Market Insights

Most recent update: Sep 2024

Source: Statista Market Insights

Volume

Most recent update: Sep 2024

Source: Statista Market Insights

Most recent update: Sep 2024

Source: Statista Market Insights

Price

Most recent update: Sep 2024

Source: Statista Market Insights

Sales Channels

Most recent update: Nov 2024

Source: Statista Market Insights

Global Comparison

Most recent update: Sep 2024

Source: Statista Market Insights

Analyst Opinion

The Margarine Market in Senegal is witnessing negligible growth, influenced by factors such as traditional preferences for butter, limited awareness of margarine benefits, and competition from other fats. Economic constraints also hinder wider adoption of margarine products.

Customer preferences:
In Senegal, consumers are gradually shifting towards healthier eating habits, creating a subtle but notable rise in interest for margarine as a substitute for traditional butter. This trend is particularly evident among younger demographics who are more health-conscious and open to exploring diverse dietary options. Additionally, increased urbanization and busy lifestyles are prompting individuals to seek convenient cooking solutions, including ready-to-use margarine products. However, cultural preferences and strong ties to traditional cooking methods remain significant barriers to widespread adoption.

Trends in the market:
In Senegal, the margarine market is experiencing a gradual shift towards healthier and more convenient cooking options, particularly among younger consumers who prioritize nutrition and convenience. This demographic is increasingly opting for margarine as a butter alternative, reflecting a broader trend towards plant-based fats. Urbanization further fuels this demand, as busy lifestyles encourage the use of ready-to-use margarine products. However, traditional cooking practices and cultural preferences present challenges for wider acceptance. Industry stakeholders must navigate these dynamics to innovate and market products that resonate with evolving consumer values while respecting local culinary traditions.

Local special circumstances:
In Senegal, the margarine market is shaped by unique local factors, including the country's rich culinary heritage and a growing urban population. Traditional dishes often favor palm oil and other local fats, which can overshadow margarine's appeal. However, younger consumers, influenced by global dietary trends, are increasingly seeking healthier alternatives. Additionally, regulatory frameworks surrounding food safety and labeling are evolving, prompting manufacturers to innovate with fortified margarine products that cater to nutritional needs. These dynamics create both challenges and opportunities for market growth.

Underlying macroeconomic factors:
The margarine market in Senegal is significantly influenced by macroeconomic factors such as national economic health, consumer purchasing power, and global commodity prices. As the economy experiences moderate growth, disposable incomes are rising, enabling consumers to diversify their diets and consider margarine as a viable option. However, inflationary pressures on food prices, particularly for imported ingredients, challenge affordability. Additionally, global trends towards health and wellness are prompting local manufacturers to innovate with healthier margarine options. Government policies aimed at enhancing food security and promoting local production also play a crucial role in shaping market dynamics and fostering competition.

Methodology

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.

Key Market Indicators

Notes: Based on data from IMF, World Bank, UN and Eurostat

Most recent update: Sep 2024

Source: Statista Market Insights

Contact

Get in touch with us. We are happy to help.