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Oils & Fats - Rwanda

Rwanda
  • Revenue in the Oils & Fats market amounts to US$182.00m in 2024. The market is expected to grow annually by 9.70% (CAGR 2024-2029).
  • In global comparison, most revenue is generated India (US$46bn in 2024).
  • In relation to total population figures, per person revenues of US$12.62 are generated in 2024.
  • In the Oils & Fats market, volume is expected to amount to 41.67m kg by 2029. The Oils & Fats market is expected to show a volume growth of 5.9% in 2025.0.
  • The average volume per person in the Oils & Fats market is expected to amount to 2.3kg in 2024.

Definition:

The Oils and Fats market covers all substances that are composed of fatty acids and used for cooking purposes or as an ingredient in many food products. These fats and oils can be obtained from plants or animals and are available in both liquid (oils) and solid (fats) form.

Structure:

The market consists of four different submarkets:

  • The Butter market covers all products that are defined as a high-fat milk product and contain a minimum of 80% fat. Its other ingredients are water, protein, and lactose.
  • The Margarine market covers all products that are made of vegetable oils and contains a minimum of 80% fat.
  • The Edible Oils market covers any type of oil that is extracted from plants and is used for cooking and food preparation.
  • The Other Oils & Fats market covers lard and other edible animal fats.

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

  • Butter
  • Margarine
  • Edible oils
  • Edible animal fats

Out-Of-Scope

  • Peanut Butter
  • Ghee
  • Butter oil
  • Out-of-home consumption
Oils & Fats: market data & analysis - Cover

Market Insights report

Oils & Fats: market data & analysis

Study Details

    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 Oils & Fats market in Rwanda is experiencing subdued growth, influenced by factors such as shifting consumer preferences towards healthier options, economic constraints, and competition from imported products, which challenge local production and innovation in the sector.

    Customer preferences:
    Consumers in Rwanda are increasingly prioritizing health-conscious choices in the Oils & Fats market, favoring options perceived as natural or organic. This shift is influenced by a growing awareness of nutritional content and the health impacts of dietary fats. Additionally, younger demographics are embracing plant-based and alternative oils, reflecting a broader global trend towards sustainability. Cultural factors, such as traditional cooking methods, are evolving as urbanization fosters new culinary practices, prompting demand for innovative, healthier fat sources that align with modern lifestyles.

    Trends in the market:
    In Rwanda, the Oils & Fats market is experiencing a significant shift towards health-oriented products, with consumers increasingly opting for natural and organic options. This trend is driven by heightened awareness of nutritional values and the health effects of fats in diets. Younger generations are particularly drawn to plant-based oils and alternatives, aligning with global sustainability movements. Furthermore, urbanization is transforming traditional cooking practices, leading to a demand for innovative, healthier fat sources that cater to contemporary lifestyles, presenting both opportunities and challenges for industry stakeholders.

    Local special circumstances:
    In Rwanda, the Oils & Fats market is uniquely shaped by its agricultural landscape and cultural preferences. The country's diverse climate allows for the cultivation of various oilseed crops, such as sunflower and palm, fostering local production. Additionally, traditional Rwandan cooking methods emphasize the use of natural fats, influencing consumer choices towards locally sourced oils. Regulatory frameworks promoting food safety and nutrition further encourage the adoption of healthier options. This combination of factors not only enriches the market but also challenges stakeholders to innovate while respecting cultural practices.

    Underlying macroeconomic factors:
    The Oils & Fats market in Rwanda is significantly shaped by macroeconomic factors, including global commodity prices, national economic stability, and trade policies. Fluctuations in the prices of oilseed crops on the international market can directly impact local production costs and consumer prices. Moreover, Rwanda’s economic growth, driven by investments in agriculture and infrastructure, supports the expansion of the oils and fats sector. Fiscal policies aimed at enhancing food security and promoting local agriculture further stimulate market development. Additionally, rising consumer awareness of health and nutrition trends globally encourages the adoption of healthier oils, influencing local production and consumption patterns.

    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.

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    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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