Other Oils & Fats - Mauritius | Statista Market Forecast

The Other Oils & Fats Market in Mauritius is experiencing mild growth, influenced by factors such as changing consumer preferences, the rising popularity of healthy cooking oils, and the gradual shift towards sustainable sourcing practices in food production.

Customer preferences: Consumers in Mauritius are increasingly prioritizing health-conscious dietary choices, driving a surge in demand for oils and fats that align with wellness trends. The popularity of natural and organic cooking oils, such as coconut and avocado oil, reflects a cultural shift towards clean eating. Additionally, younger demographics are gravitating towards sustainable and ethically sourced products, influenced by growing environmental awareness. This evolving landscape highlights a broader lifestyle change, as Mauritians seek to balance traditional culinary practices with modern health ideals.

Trends in the market: In Mauritius, the Other Oils & Fats Market is experiencing a notable shift towards health-focused products, with consumers increasingly favoring oils rich in nutrients and beneficial properties. The rise of plant-based oils, such as flaxseed and hemp oil, is indicative of a growing awareness around omega fatty acids and their health benefits. Furthermore, the trend towards transparency in sourcing is prompting brands to highlight ethical practices, appealing to environmentally conscious consumers. This evolution not only reflects changing dietary preferences but also presents significant opportunities for industry stakeholders to innovate and cater to the demand for healthier, sustainably sourced options.

Local special circumstances: In Mauritius, the Other Oils & Fats Market is shaped by the island's rich cultural heritage and diverse culinary practices that emphasize flavor and health. The local preference for traditional cooking methods, such as frying and sautéing, drives demand for oils that not only enhance taste but are also perceived as healthier options. Additionally, the regulatory environment encourages the promotion of locally sourced ingredients, fostering a market for indigenous oils like coconut and palm. These factors create a unique landscape where consumer choices increasingly align with health consciousness and cultural identity, influencing market dynamics significantly.

Underlying macroeconomic factors: The Other Oils & Fats Market in Mauritius is significantly impacted by macroeconomic factors such as global commodity prices, local agricultural productivity, and trade policies. Fluctuations in international oil prices can affect the cost of imported oils, influencing consumer purchasing decisions. Additionally, the national economic health, characterized by GDP growth and inflation rates, plays a critical role in shaping consumer spending habits. Fiscal policies promoting agricultural development and sustainability initiatives encourage local production of indigenous oils, enhancing market resilience. These dynamics collectively drive the evolution of consumer preferences towards healthier and culturally resonant oils, thereby shaping market performance.

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.