Oils & Fats - Togo

Togo

Highlights

Revenue in the Oils & Fats market amounts to US$112.60m in 2024. The market is expected to grow annually by 5.81% (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$12.16 are generated in 2024.
In the Oils & Fats market, volume is expected to amount to 21.45m kg by 2029. The Oils & Fats market is expected to show a volume growth of 3.9% in 2025.0.
The average volume per person in the Oils & Fats market is expected to amount to 1.9kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Oils & Fats market in Togo is experiencing minimal growth, influenced by factors such as fluctuating prices of raw materials, changing consumer preferences towards healthier options, and the increasing availability of alternative spreads and cooking oils.

Customer preferences: Consumers in Togo are increasingly prioritizing health and wellness, driving a shift towards oils and fats that are perceived as healthier options, such as olive oil and avocado oil. This trend is influenced by a growing awareness of nutrition and dietary impacts, particularly among younger demographics. Furthermore, traditional cooking practices are evolving as urbanization increases, with busy lifestyles prompting the adoption of convenient, ready-to-use oil and fat products. Sustainability concerns are also shaping preferences, as consumers seek ethically sourced and environmentally friendly options.

Trends in the market: In Togo, the Oils & Fats market is experiencing a notable shift towards healthier options, with consumers increasingly favoring oils like olive and avocado due to heightened health consciousness. This trend is particularly strong among younger populations who are more aware of nutrition's impact on well-being. Urbanization is also influencing cooking habits, as busy lifestyles lead to a rise in demand for convenient, ready-to-use oils. Additionally, sustainability concerns are prompting consumers to seek ethically sourced and environmentally friendly products, highlighting the need for industry stakeholders to adapt their offerings and marketing strategies accordingly.

Local special circumstances: In Togo, the Oils & Fats market is shaped by local agricultural practices and a rich culinary heritage that emphasize traditional cooking methods. The country's favorable climate supports the cultivation of palm oil and groundnuts, which remain staples in local cuisine. Cultural preferences drive demand for specific fats used in traditional dishes, while urbanization is leading to a gradual shift towards imported healthier oils. Regulatory frameworks are also evolving, with increasing emphasis on food safety and labeling, compelling producers to enhance transparency and quality in their offerings.

Underlying macroeconomic factors: The Oils & Fats market in Togo is significantly influenced by macroeconomic factors including national economic stability, agricultural productivity, and global commodity prices. The country's reliance on agriculture as a key economic driver means fluctuations in palm oil and groundnut yields can directly impact market performance. Additionally, rising global demand for healthier oils is prompting local producers to adapt, affecting import patterns. Fiscal policies aimed at boosting agricultural innovation and infrastructure development also play a crucial role, as do trade agreements that influence market accessibility and competitiveness. Furthermore, inflation and currency stability affect consumer purchasing power, shaping demand for various oil products.

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.