The Angolan sunflowerseed oil market has shown a significant upward trajectory from 2014 to 2023. Starting at 5.0 Thousand Metric Tons in 2014 and stabilizing at the same value in 2015, the market experienced a sharp increase in 2016 with a value jump to 14.0 Thousand Metric Tons. This upward trend continued with notable fluctuations, peaking at 20.0 Thousand Metric Tons in 2017. Despite a dip in 2018 (-30%), a general increase persisted through the years, reaching 20.0 Thousand Metric Tons in 2023, reflecting a year-on-year growth of 5.26% for 2023 and a 5-year CAGR of 7.39%.
For the future, the market is poised for steady growth with a forecast reaching 23.82 Thousand Metric Tons by 2028. This indicates a forecasted 5-year CAGR of 2.83% and a 14.96% growth rate over the same period.
Future trends to watch for:
- Increased focus on sustainable and organic sunflowerseed oil production.
- Technological advancements in oil extraction and processing techniques.
- Policies favoring local production and reduced dependency on imports.
- Potential economic challenges that might affect market dynamics.
