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The African Fats and Oils Market is segmented by Product Type into Oils (Soybean Oil, Canola Oil, Palm Oil, Coconut Oil, Olive Oil, Cottonseed Oil, Sunflower Seed Oil, and Other Oils) and Fats (Butter, Lard, and Other Fats), Application into Foods and Beverages, Animal Feed, and Industrial, and Geography.
2016 - 2026
The African fats and oils market is projected to register a CAGR of 3.8% during the forecast period (2020 - 2025).
The African fats and oils market is segmented by product type into oils and fats. The oil segment is further segmented into soybean oil, canola oil, palm oil, coconut oil, olive oil, cottonseed oil, sunflower seed oil, and other oils and the fats segment is segmented into butter (excluding dairy butter), lard, and other fats. The market is also segmented by application into food and beverages, animal feed, and industrial. Also, the study provides an analysis of the fats and oil market in the emerging and established markets across the region, including Egypt, South Africa, and Rest of Africa.
|Rest of Africa|
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Consumption of olive oil is continuously rising in the region, as it is considered to have healthy dietary fat. Olive oil constitutes a considerable amount of monounsaturated fatty acids. As per the Food and Drug Administration (FDA), eating two tablespoons of olive oil a day may reduce the risk of heart disease. Due to the tremendous benefits offered by the consumption of olive oil, the demand for oil has increased to a greater extent across the African markets. As per the data revealed by the International Olive Council (IOC), the global production of olive oil increased to 3,315,000 metric ton in 2018, with Africa being one of the top consumers of olive oil.
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The key factor driving the market studied is the increased consumption of processed foods, confectionery, and ready-to-drink beverages. Fats and oils are very important raw materials and functional ingredients for several food products, such as confectionery, bakery, ice creams, emulsions, sauces, and shortenings. Besides, the development of new products using vegetable oils can prove beneficial for companies to expand the fats and oil applications across the food industry. Evolving consumer preferences for bakery and processed foods, the use of automation, food safety regulations, and foreign direct investment are stirring up the food industry. The high consumption of processed food is attributed to convenience, long shelf life, time-saving, safety, on-the-go consumption, and the nutritional benefits of these products. Thus, the high demand for these products may boost the demand for fats and vegetable oils in the region. The confectionery products in Africa are always in demand, where among the different components in chocolate, the fat phase has the greatest influence on its quality.
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The African fats and oils market is fragmented, owing to the presence of large regional and domestic players in different countries. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Key players dominating the African market include Wilmar International Ltd, DuPont, ADM, Bunge Limited, Fuji Vegetable Oil Inc., and Cargill Incorporated, among others.
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
188.8.131.52 Soybean Oil
184.108.40.206 Palm Oil
220.127.116.11 Coconut Oil
18.104.22.168 Olive Oil
22.214.171.124 Cotton Seed Oil
126.96.36.199 Sunflower Seed Oil
188.8.131.52 Other Oils
184.108.40.206 Other Fats
5.2.1 Foods and Beverages
220.127.116.11 Bakery and Confectionery
18.104.22.168 Dairy Products
22.214.171.124 Snacks and Savories
5.2.2 Animal Feed
126.96.36.199 Lubricants and Greases
5.3.2 South Africa
5.3.3 Rest of Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Wilmar International Ltd
6.3.2 Archer Daniels Midland Company
6.3.3 Bunge Limited
6.3.4 Fuji Vegetable Oil Inc.
6.3.5 Cargill Incorporated
6.3.6 Olam International
6.3.7 Africa Palm Oil
7. MARKET OPPORTUNITIES AND FUTURE TRENDS