Spreads & Sweeteners - Angola

Angola

Highlights

Revenue in the Spreads & Sweeteners market amounts to US$419.90m in 2024. The market is expected to grow annually by 9.02% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$144bn in 2024).
In relation to total population figures, per person revenues of US$11.11 are generated in 2024.
In the Spreads & Sweeteners market, volume is expected to amount to 239.40m kg by 2029. The Spreads & Sweeteners market is expected to show a volume growth of 2.6% in 2025.0.
The average volume per person in the Spreads & Sweeteners market is expected to amount to 5.7kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Spreads & Sweeteners market in Angola is facing subdued growth due to various factors, including low consumer awareness and limited availability of digital technologies. Additionally, the high cost of online health services and a lack of government support are hindering market expansion. Despite these challenges, the market is expected to grow steadily in the coming years, driven by increasing demand for healthier and convenient food options.

Customer preferences: Consumers in Angola are becoming more health-conscious and are turning towards natural and organic options in the Spreads & Sweeteners Market within The Food market. This trend is driven by a growing awareness of the health benefits of these products, as well as a desire for sustainable and environmentally-friendly options. Additionally, there is a rising demand for locally-sourced and traditional ingredients, reflecting the cultural preferences and values of the Angolan population. This shift towards healthier and more natural choices is expected to continue as consumers prioritize their well-being and embrace a more holistic approach to food consumption.

Trends in the market: In Angola, the Spreads & Sweeteners Market within The Food market is experiencing a shift towards healthier options, driven by consumer demand for natural and organic products. This trend is expected to continue as consumers become more health-conscious and seek out alternatives to traditional spreads and sweeteners. Additionally, there is a growing interest in sugar-free and low-calorie options, as well as a demand for more diverse and exotic flavors. These trends are significant as they reflect a changing consumer mindset and have the potential to impact industry stakeholders, such as manufacturers and retailers, who will need to adapt their offerings to meet these evolving preferences. There is also an opportunity for new players to enter the market and cater to this demand for healthier and more innovative products.

Local special circumstances: In Angola, the Spreads & Sweeteners Market within The Food market is heavily influenced by the country's geographical location and its history as a former Portuguese colony. The market is dominated by traditional sweeteners such as honey and molasses, reflecting the cultural preference for natural and locally-sourced products. The government's efforts to promote local food production also play a role in shaping the market dynamics. Additionally, the country's limited infrastructure and high import costs impact the availability and pricing of spreads and sweeteners, creating unique challenges for market players.

Underlying macroeconomic factors: The Spreads & Sweeteners Market within The Food market in Angola is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. Angola's economy has been greatly affected by the decline in oil prices, which has led to a decrease in government spending and an increase in inflation. This has resulted in reduced consumer purchasing power and a slowdown in overall market growth. However, the government's efforts to diversify the economy and increase private sector investment may lead to long-term market growth opportunities. Additionally, the rising disposable income and changing dietary habits of Angolan consumers are driving the demand for convenient and affordable food options, including spreads and sweeteners.

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.