In 2023, the domestic consumption of soybean oil in China stood at 17.70 million metric tons. The forecast data suggests a steady increase year-on-year from 2024 to 2028, with the value expected to reach 19.59 million metric tons by 2028. Specifically, the consumption is projected at 18.08 million metric tons in 2024, progressing to 18.46 million metric tons in 2025, 18.84 million metric tons in 2026, 19.22 million metric tons in 2027, and finally 19.59 million metric tons in 2028. This indicates a consistent growth trend. Year-on-year percentage variations showcase an approximate annual growth rate (CAGR) of 2.07% over this five-year period. Key observations of the consumption trend reveal:
• 2024: 18.08 million metric tons (+2.15%)
• 2025: 18.46 million metric tons (+2.10%)
• 2026: 18.84 million metric tons (+2.06%)
• 2027: 19.22 million metric tons (+2.01%)
• 2028: 19.59 million metric tons (+1.91%)
Future trends to watch for include potential fluctuations in global soybean oil prices, shifts in domestic agricultural policies, and changing consumer dietary patterns that may impact the projected growth trajectory.
