The groundnut oil market in Angola experienced fluctuating growth from 2014 to 2023, with the volume standing at 36.0 Thousand Metric Tons in 2023. Between 2014 and 2017, the market showed substantial increases, with year-on-year growth rates reaching as high as 28% in 2017. Despite a notable dip in 2020 (down by 14.41%), the market rebounded strongly, achieving a 24.13% increase in 2021. The average annual growth rate over the past two years was 2.86%, while the compound annual growth rate (CAGR) over the last five years was 3.04%.
Future trends indicate a steady growth in the groundnut oil market, with a forecasted volume of 41.04 Thousand Metric Tons by 2028. Looking forward, the anticipated CAGR is 2.07%, translating to a forecasted 10.77% growth over the next five years. Key factors to monitor include technological advancements in oil extraction, policy changes impacting agriculture, and consumer preferences shifting towards healthier cooking oils.
