Africa - Sesame Oil - Market Analysis, Forecast, Size, Trends and Insights

Africa's Sesame Oil Market Expected to See Modest Growth with +1.1% CAGR  

The sesame oil market in Africa is expected to experience a slight increase in performance, with a forecasted CAGR of +1.1% in volume and +1.7% in value from 2024 to 2035. By the end of 2035, the market volume is projected to reach 238K tons, while the market value is expected to hit $866M (in nominal wholesale prices). 

Market Forecast Driven by rising demand for sesame oil in Africa, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.1% for the period from 2024 to 2035, which is projected to bring the market volume to 238K tons by the end of 2035. In value terms, the market is forecast to increase with an anticipated CAGR of +1.7% for the period from 2024 to 2035, which is projected to bring the market value to $866M (in nominal wholesale prices) by the end of 2035. 
Consumption 
Africa's Consumption of Sesame Oil Sesame oil consumption declined to 211K tons in 2024, stabilizing at 2023 figures. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, consumption hit record highs at 278K tons in 2017; however, from 2018 to 2024, consumption failed to regain momentum. 

The size of the sesame oil market in Africa reduced modestly to $721M in 2024, remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a relatively flat trend pattern. The level of consumption peaked at $929M in 2017; however, from 2018 to 2024, consumption stood at a somewhat lower figure. 
Imports 
Africa's Imports of Sesame Oil In 2024, the amount of sesame oil imported in Africa shrank significantly to 577 tons, with a decrease of -45.7% against the year before. Over the period under review, imports recorded a perceptible downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 39% against the previous year. The volume of import peaked at 1.1K tons in 2023, and then shrank significantly in the following year. In value terms, sesame oil imports reduced dramatically to $2M in 2024. Total imports indicated modest growth from 2013 to 2024: its value increased at an average annual rate of +1.0% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2023 with an increase of 42% against the previous year. As a result, imports reached the peak of $3.1M, and then shrank significantly in the following year. 

Exports 
Africa's Exports of Sesame Oil After two years of decline, shipments abroad of sesame oil increased by 271% to 5.3K tons in 2024. Overall, exports, however, saw a abrupt shrinkage. The growth pace was the most rapid in 2018 with an increase of 1,134%. Over the period under review, the exports hit record highs at 17K tons in 2014; however, from 2015 to 2024, the exports failed to regain momentum. In value terms, sesame oil exports surged to $10M in 2024. In general, exports, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2015 with an increase of 833%. As a result, the exports attained the peak of $232M. From 2016 to 2024, the growth of the exports remained at a somewhat lower figure. 

Export Prices By Country 

In 2024, the export price in Africa amounted to $1,882 per ton, dropping by -42.4% against the previous year. In general, the export price, however, continues to indicate a perceptible expansion. The most prominent rate of growth was recorded in 2015 when the export price increased by 1,586%. As a result, the export price attained the peak level of $24,140 per ton. From 2016 to 2024, the export prices remained at a somewhat lower figure. Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Egypt ($6,399 per ton), while Nigeria ($1,252 per ton) was amongst the lowest. From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Egypt (+12.0%), while the other leaders experienced more modest paces of growth.