Africa Fats and Oil Market - Growth, Trends, and Forecasts (2017 - 2022)
Africa Fats and Oil Market
In 2015, the sales of locally manufactured oils and fats derived from vegetables and animals amounted to USD 11.6 billion, while East Africa's edible oil market was estimated to be worth USD 2 billion.
Traders in palm oil in the Volta Region are certified by the FDA, which would help bring some regulation into the industry and ensure that the public consumes quality palm oil. The FDA has advised the public to buy palm oil with yellowish appearance. The reddish type of palm oil is obtained from local palm (abepa), while the ‘agric’ palm nut produces this oil with yellowish appearance; however, due to the attractiveness of reddish palm oil, a deadly chemical is used to color the yellowish palm oil.
There is an increasing demand for cooking oil in the East African countries. There is an expected increase in the focus on healthier types of oils and fats among the population in Kenya, as there is high awareness regarding the impact of different types of oils and fats on the general health. Moreover, an increased demand for vegetable and seed oil is expected, which would drive the market in Africa. The low health index of cooking fat constraints the market. The consumers with increasing disposable incomes consider product quality, as well as affordability, when choosing oils and fats.
The market has been segmented by source type, application, and geography. The oils and fats market in Africa is strongly inclined towards palm oil, owing to the presence of a vast belt of palm trees. The principal product of palm oil is the palm fruit, which is processed to obtain commercial products, including palm oil, PKO, and palm kernel cake. Palm oil and PKO have a wide-range of applications. Recently, CPO emerged as a biofuel, an alternative source of energy. The processing of CPO gives rise to three different products: food products (cooking oil, margarine, etc.), manufactured/industrial goods (cosmetics, soaps/detergents, etc.), and fuel (biodiesel).
Ghana exports, as well as imports, various kinds of vegetable oils that are used for, both, industrial and domestic purposes. Import volumes have been increasing over the years compared to the export volumes; groundnut oil, for instance, has seen a substantial decrease in exports over the years. Palm oil (fat & margarine, refined cooking oil, and edible oil) constitutes almost 61% of the palm oil-related product demand in Ghana and about 65% of the total demand in West Africa.
Danlink Ingredients has been appointed by AAK as its new agent and distributor of oils and fats, in South Africa. The supplier provides a wide-range of raw material sources, broad process capabilities, and expertise in oils and fats within the food matrix, enabling it to develop innovative and value-adding solutions across industries.
Key Deliverables in the Study
Market analysis for the Africa oil and fats market, with region-specific assessments and competition analysis.
Market definition along with the identification of key drivers and restraints.
The identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence the global market.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the Africa oil and fats market.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insight about the major players in the industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions where this industry is growing and identify the regions that are still untapped.
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