From 2014 to 2023, the vegetable oils market volume in Angola has shown varied growth trends. In 2023, the market stood at 368.0 thousand metric tons, showing a year-on-year (YoY) growth of 1.1%. Over the previous years, the market experienced fluctuations with significant growth noted in 2015 (4.3%) and 2016 (7.62%). However, there were declines observed in 2018 (-2.8%) and 2020 (-3.92%). The compound annual growth rate (CAGR) for the last five years was 1.18%. Looking ahead, from 2024 to 2028, the market is forecasted to grow at a CAGR of 0.78%, projecting an overall increase of 3.96% in volume.
Future Trends to Watch:
- Increasing local production and sustainability initiatives.
- Impact of climate change on crop yields.
- Shifts in consumer preferences towards healthier oil options.
- Potential government policies and economic factors influencing market dynamics.
