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Other Oils & Fats - Burkina Faso

Burkina Faso
  • Revenue in the Other Oils & Fats market amounts to US$66.72m in 2024. The market is expected to grow annually by 4.98% (CAGR 2024-2029).
  • In global comparison, most revenue is generated China (US$2bn in 2024).
  • In relation to total population figures, per person revenues of US$2.80 are generated in 2024.
  • In the Other Oils & Fats market, volume is expected to amount to 9.99m kg by 2029. The Other Oils & Fats market is expected to show a volume growth of 3.1% in 2025.0.
  • The average volume per person in the Other Oils & Fats market is expected to amount to 0.4kg in 2024.

Definition:

The Other Oils & Fats market covers lard and other edible animal fats, such as fat from cattle, buffaloes, sheep, goats, poultry, fats and fish oils.

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

  • Lard
  • Other animal fats
  • Duck and chicken fats
  • Fish oils, liver fish oils, fish fats

Out-Of-Scope

  • Butter
  • Margarine
  • Vegetable oils
  • Olive oils
  • 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 Other Oils & Fats Market in Burkina Faso is witnessing minimal growth, influenced by factors like limited consumer awareness, fluctuating agricultural output, and competition from imported oils, which restrict the market's expansion potential and consumer choices.

Customer preferences:
In Burkina Faso, there is a noticeable shift in consumer preferences towards healthier and more sustainable oil options, driven by rising health consciousness among the urban population. As demographics evolve, particularly with a younger generation becoming more health-aware, there is an increasing interest in oils perceived as nutritious, such as olive and coconut oils. Additionally, cultural influences are prompting consumers to explore local, traditional oils, reflecting a desire for authenticity and sustainability in their dietary choices, despite the challenges posed by imported alternatives.

Trends in the market:
In Burkina Faso, the Other Oils & Fats market is experiencing a notable shift towards healthier and more sustainable options, as consumers increasingly seek oils that align with their health-conscious lifestyles. This trend is particularly evident among younger demographics, who are gravitating towards oils like olive and coconut due to their perceived nutritional benefits. Simultaneously, there is a resurgence of interest in traditional, locally sourced oils, driven by a cultural desire for authenticity and sustainable practices. This evolving consumer behavior presents significant opportunities for industry stakeholders, including local producers and marketers, to innovate and diversify their offerings to meet the rising demand for both health-oriented and culturally resonant products.

Local special circumstances:
In Burkina Faso, the Other Oils & Fats market is shaped by unique geographical and cultural factors, with a rich biodiversity that supports the cultivation of indigenous oil-producing plants. This local agriculture fosters a growing preference for traditional oils like shea and baobab, which are deeply rooted in cultural practices. Additionally, regulatory frameworks promoting food security and health initiatives encourage the production of healthier oil alternatives. These dynamics not only drive consumer demand for authentic and nutritious options but also empower local producers to innovate and capitalize on sustainable practices.

Underlying macroeconomic factors:
The Other Oils & Fats market in Burkina Faso is significantly influenced by macroeconomic factors such as agricultural productivity, trade policies, and global commodity prices. The nation's economic health, characterized by an agricultural sector that employs a large portion of the population, impacts the availability and pricing of indigenous oils like shea and baobab. Additionally, favorable fiscal policies aimed at enhancing local production and exportation of traditional oils contribute to market growth. Global trends in health consciousness and demand for natural products further bolster this sector, encouraging investment and innovation among local producers while supporting sustainable practices in the face of fluctuating international markets.

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

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