Market Insights Consumer Food Oils & Fats

Margarine - Africa

Africa

Revenue in the Margarine market amounts to €4.05bn in 2024. The market is expected to grow annually by 8.21% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€4,332m in 2024).
In relation to total population figures, per person revenues of €3.12 are generated in 2024.
In the Margarine market, volume is expected to amount to 0.97bn kg by 2029. The Margarine market is expected to show a volume growth of 2.9% in 2025.
The average volume per person in the Margarine market is expected to amount to 0.66kg in 2024.

Key regions: Philippines, China, United States, South Korea, India

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Margarine Market in Africa is experiencing minimal growth, influenced by factors such as traditional butter preferences, limited consumer awareness of margarine benefits, and economic constraints affecting purchasing power in various regions.

Customer preferences: Consumer preferences in the Margarine Market in Africa are gradually shifting as younger demographics become more health-conscious and experiment with diverse cooking methods. This is driving interest in plant-based alternatives and fortified margarine options, as consumers seek healthier, nutritious spreads. Additionally, urbanization is contributing to lifestyle changes, prompting a move away from traditional butter towards more versatile margarine products that cater to various culinary uses. Social media and influencer marketing are also playing a crucial role in raising awareness about the benefits of margarine, fostering a shift in perceptions.

Trends in the market: In Africa, the Margarine Market is experiencing a notable shift towards health-oriented products, driven by younger consumers prioritizing nutrition and wellness. The rise of plant-based alternatives and fortified margarine reflects this growing demand for healthier spreads. Urbanization is further influencing consumer behavior, leading to a preference for versatile margarine that adapts to various cooking styles. Additionally, the impact of social media and influencer marketing is reshaping perceptions, increasing awareness of margarine's benefits and prompting industry stakeholders to innovate and diversify their product offerings to meet evolving consumer needs.

Local special circumstances: In Africa, the Margarine Market is shaped by diverse regional factors, including varying dietary habits and local culinary traditions that influence consumer preferences. For instance, in West Africa, the demand for palm oil-based margarine aligns with traditional cooking practices, while East African markets lean towards sunflower and vegetable oils. Additionally, regulatory frameworks around food labeling and health claims are evolving, prompting manufacturers to innovate with fortified products. Cultural influences, such as communal dining and the significance of shared meals, further drive the demand for versatile margarine that complements local dishes.

Underlying macroeconomic factors: The Margarine Market in Africa is significantly influenced by macroeconomic factors such as fluctuating commodity prices, currency stability, and national economic growth. As global demand for oils and fats rises, local producers face both opportunities and challenges, particularly in sourcing raw materials like palm and sunflower oil. Countries with robust fiscal policies that support agricultural development and food processing are witnessing enhanced market performance. Additionally, inflation rates and consumer purchasing power directly impact demand for margarine products, especially fortified variants that align with health-conscious trends.

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.