Margarine - Togo | Statista Market Forecast

Revenue in the Margarine market amounts to US$38.55m in 2024. The market is expected to grow annually by 5.42% (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$4.16 are generated in 2024.
In the Margarine market, volume is expected to amount to 9.01m kg by 2029. The Margarine market is expected to show a volume growth of 3.2% in 2025.0.
The average volume per person in the Margarine market is expected to amount to 0.83kg 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 Togo is experiencing minimal growth, influenced by factors such as traditional butter preferences, limited awareness of health benefits, and competition from cheaper alternatives, which hinder wider adoption of margarine products.

Customer preferences: In Togo, there is a gradual shift in consumer preferences towards healthier cooking options, driven by a growing awareness of nutrition among younger demographics. This trend is highlighted by increased interest in plant-based diets and heart-healthy fats, nudging some consumers to explore margarine as a versatile alternative to traditional butter. Additionally, urbanization is fostering a busier lifestyle, prompting a demand for convenient and ready-to-use cooking solutions, which could favor margarine products if marketed effectively.

Trends in the market: In Togo, the margarine market within the oils and fats segment is experiencing a notable transformation, driven by a shift towards healthier eating habits among consumers, particularly the younger generation. As awareness of nutrition rises, there is an increasing preference for plant-based and heart-healthy fats, making margarine an attractive alternative to traditional butter. The trend towards urbanization is also influencing consumer behavior, as busy lifestyles create a demand for convenient cooking solutions. This evolution presents significant opportunities for industry stakeholders to innovate and market margarine as a versatile, health-conscious option.

Local special circumstances: In Togo, the margarine market within the oils and fats segment is shaped by local agricultural practices and cultural preferences that favor diverse cooking styles. The country's rich agricultural landscape allows for the sourcing of local oils, which can be blended with margarine to cater to regional tastes. Additionally, traditional recipes often incorporate spreads, creating a cultural acceptance of margarine as a viable alternative. Regulatory support for health-focused products further encourages innovation, positioning margarine as a modern choice for health-conscious consumers amidst a backdrop of evolving dietary trends.

Underlying macroeconomic factors: The margarine market in Togo is influenced by several macroeconomic factors, including national economic stability, consumer purchasing power, and global commodity prices. A growing economy and rising disposable incomes enhance consumer access to a variety of food products, including margarine. Furthermore, fluctuations in international oil prices impact the cost of raw materials essential for margarine production, affecting pricing strategies. Fiscal policies that support agricultural development and food security initiatives promote local sourcing and innovation in product offerings. Additionally, shifting consumer preferences towards healthier eating habits are prompting manufacturers to adapt and diversify their margarine products.

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.