Other Oils & Fats - Gambia | Statista Market Forecast

Revenue in the Other Oils & Fats market amounts to US$970.20k in 2024. The market is expected to grow annually by 6.51% (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$0.34 are generated in 2024.
In the Other Oils & Fats market, volume is expected to amount to 108.60k kg by 2029. The Other Oils & Fats market is expected to show a volume growth of 1.3% in 2025.0.
The average volume per person in the Other Oils & Fats market is expected to amount to 0.0kg 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.

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

Butter
Margarine
Vegetable oils
Olive oils
Out-of-home consumption

The Other Oils & Fats Market in Gambia is witnessing minimal growth, influenced by factors such as limited consumer awareness, traditional cooking practices, and competition from imported oils, which affect local production and market expansion.

Customer preferences: In Gambia, there is a gradual shift in consumer preferences towards healthier and more sustainable oils, influenced by rising health consciousness and dietary changes among younger demographics. As urbanization progresses, consumers are increasingly exploring alternatives to traditional oils, prompting interest in cold-pressed and organic options. Moreover, the growing influence of social media is fostering awareness of international culinary practices, encouraging experimentation with diverse oils. This evolution reflects a broader trend towards health-oriented lifestyles and the demand for quality over quantity in food choices.

Trends in the market: In Gambia, the Other Oils & Fats Market is experiencing a notable shift towards healthier, sustainable options as consumers become more health-conscious and embrace dietary changes. The popularity of cold-pressed and organic oils is on the rise, driven by urbanization and a quest for quality. This trend is further amplified by the influence of social media, which promotes global culinary practices and encourages experimentation with various oils. For industry stakeholders, these shifts present both opportunities and challenges, necessitating innovation and adaptation to meet evolving consumer preferences while ensuring sustainable sourcing and production methods.

Local special circumstances: In Gambia, the Other Oils & Fats Market is shaped by unique local factors, including a rich agricultural heritage and diverse culinary traditions that emphasize the use of locally sourced ingredients. The geographical abundance of palm oil and groundnuts influences consumer preferences, with traditional oils often favored for their cultural significance. Additionally, government regulations promoting sustainable farming practices are driving a shift towards organic production. These factors create a distinct market dynamic, as consumers increasingly seek oils that align with both their health goals and cultural values.

Underlying macroeconomic factors: The Other Oils & Fats Market in Gambia is influenced by several macroeconomic factors, including national economic stability, agricultural policies, and global commodity prices. The country's reliance on agriculture as a key economic driver means that fluctuations in crop yields, particularly in palm oil and groundnuts, directly impact supply and pricing. Moreover, government fiscal policies aimed at supporting local farmers and promoting sustainable practices enhance market resilience. Global trends in health-conscious consumption and rising prices for imported oils also encourage a shift toward locally produced oils, further shaping consumer preferences and market dynamics.

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.