Other Oils & Fats - Haiti | Statista Market Forecast

Revenue in the Other Oils & Fats market amounts to US$71.41m in 2024. The market is expected to grow annually by 8.35% (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$6.02 are generated in 2024.
In the Other Oils & Fats market, volume is expected to amount to 3.82m kg by 2029. The Other Oils & Fats market is expected to show a volume growth of 0.1% in 2025.0.
The average volume per person in the Other Oils & Fats market is expected to amount to 0.3kg 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 Haiti is witnessing steady growth, influenced by factors such as changing dietary preferences, increased demand for cooking oils, and the rise in food processing activities, contributing to an average growth rate in the sector.

Customer preferences: Consumers in Haiti are increasingly prioritizing health-conscious choices, leading to a growing demand for oils perceived as healthier, such as coconut and olive oils. The influence of traditional cooking methods is evolving, as younger generations seek convenience alongside authenticity, prompting a rise in pre-packaged cooking oils. Additionally, urbanization and changing lifestyles are driving interest in multi-use oils that cater to both local and international cuisines, reflecting a blend of cultural heritage and modern dietary trends.

Trends in the market: In Haiti, the Other Oils & Fats Market is experiencing a significant shift towards health-conscious products, with consumers increasingly gravitating towards oils like coconut and olive oil, recognized for their nutritional benefits. The evolution of cooking practices is marked by a preference for convenience, influencing younger generations to opt for pre-packaged cooking oils while still valuing traditional flavors. Urbanization is also propelling demand for versatile oils that accommodate diverse culinary needs, blending local and international cuisine. This trend presents opportunities for industry stakeholders to innovate and cater to evolving consumer preferences, while also emphasizing health and sustainability.

Local special circumstances: In Haiti, the Other Oils & Fats Market is shaped by a rich culinary heritage that emphasizes traditional cooking methods and local flavors. The country's diverse agricultural landscape supports the production of indigenous oils like palm and coconut, which are integral to local cuisine. Cultural celebrations often highlight these traditional oils, creating a strong market for them. Additionally, regulatory efforts to promote health and nutrition are encouraging consumers to choose healthier options, influencing both product innovation and marketing strategies in the oils and fats sector.

Underlying macroeconomic factors: The Other Oils & Fats Market in Haiti is significantly influenced by macroeconomic factors such as agricultural productivity, global commodity prices, and economic stability. Fluctuations in the global prices of palm and coconut oils can affect local production costs and consumer prices, impacting market demand. Additionally, national economic health, characterized by GDP growth and inflation rates, plays a crucial role in shaping consumer purchasing power and preferences. Fiscal policies aimed at supporting local agriculture and nutrition initiatives further encourage the use of traditional oils, fostering innovation and sustainability in the sector. Overall, these factors collectively drive the performance and growth of the oils and fats market in Haiti.

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.