Margarine - Zimbabwe | Statista Market Forecast

Revenue in the Margarine market amounts to US$75.52m in 2024. The market is expected to grow annually by 4.87% (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$4.44 are generated in 2024.
In the Margarine market, volume is expected to amount to 9.26m kg by 2029. The Margarine market is expected to show a volume growth of 0.9% in 2025.0.
The average volume per person in the Margarine market is expected to amount to 0.52kg 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 Zimbabwe is witnessing negligible growth, influenced by factors such as limited consumer awareness, competition from traditional fats, and economic challenges impacting purchasing power and preferences.

Customer preferences: Consumers in Zimbabwe are gradually shifting towards healthier eating habits, spurred by rising health consciousness and a growing interest in nutrition. This trend is influencing the margarine market, as individuals seek alternatives to traditional fats, particularly those perceived as healthier or fortified with beneficial ingredients. Additionally, younger demographics, influenced by global dietary trends and social media, are increasingly experimenting with plant-based options, pushing brands to innovate and cater to these evolving preferences within a challenging economic landscape.

Trends in the market: In Zimbabwe, the Margarine market is experiencing a significant shift towards healthier formulations, driven by an increasing demand for low-fat and plant-based alternatives. Consumers are now more focused on nutritional labels, seeking products fortified with vitamins and omega fatty acids. Additionally, the rise of social media influencers promoting healthy lifestyles is encouraging younger generations to explore diverse margarine options. This evolving landscape presents opportunities for industry stakeholders to innovate, emphasizing clean-label ingredients and sustainable sourcing practices to meet consumer expectations and enhance brand loyalty.

Local special circumstances: In Zimbabwe, the Margarine market is influenced by unique local factors such as the country's agricultural landscape and economic conditions. The reliance on locally sourced oils, like sunflower and soybean, shapes product availability, while fluctuating commodity prices affect production costs and consumer pricing. Cultural preferences lean towards traditional cooking methods, creating a demand for familiar flavors in margarine. Regulatory policies aimed at promoting nutritional standards further drive innovation, encouraging manufacturers to create healthier, fortified options that resonate with health-conscious consumers.

Underlying macroeconomic factors: The Margarine market in Zimbabwe is significantly shaped by macroeconomic factors such as inflation rates, currency stability, and trade policies. High inflation can erode consumer purchasing power, leading to shifts in demand for margarine and related products. The country’s economic health, characterized by GDP growth or contraction, directly affects consumer spending habits and preferences. Additionally, fiscal policies aimed at boosting local agriculture can enhance the supply of raw materials, impacting production costs. Global commodity price fluctuations further influence local margarine pricing, while regional trade agreements may facilitate access to foreign markets, encouraging competition and innovation within the sector.

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.