The domestic food consumption of palm oil in South Korea is forecasted to see a gradual increase from 260.0 thousand metric tons in 2024 to 274.0 thousand metric tons by 2028. In 2023, the actual consumption stood at 256.0 thousand metric tons. The year-on-year percentage variations show a steady rise, with 1.5% from 2024 to 2025, 1.1% from 2025 to 2026, 1.5% from 2026 to 2027, and 1.1% from 2027 to 2028. The average annual growth rate (CAGR) over the last five years is approximately 1.3%.
Future trends to watch for include potential shifts in consumer preferences towards more sustainable and eco-friendly oil alternatives, possible regulatory changes affecting palm oil production and importation, and innovations in food technology that could influence palm oil demand.
