Based on the provided data, the maize oil market in the UK is projected to decline significantly from 2024 to 2028. Starting at 708.29 thousand kilograms in 2024, it is expected to reduce to 63.07 thousand kilograms by 2028. Looking at the year-on-year variation, the market sees a 23.47% decline from 2024 to 2025, continues with a 30.07% decrease from 2025 to 2026, a sharper decline of 42.11% from 2026 to 2027, and finally a dramatic 71.26% drop from 2027 to 2028. The compound annual growth rate (CAGR) over this period indicates a continuous negative trend.
Future trends to watch for:
- Shifting consumer preferences and dietary habits impacting demand.
- Potential regulatory changes affecting maize oil production and distribution.
- Technological advancements in food production and alternative oils gaining market share.
- Economic factors such as inflation and disposable income trends influencing consumption patterns.