The rapeseed oil and mustard oil market in Vietnam exhibited relative stability from 2014 to 2023, consistently hovering around 3.0 thousand metric tons, with minor fluctuations. In 2023, the market stood at 3.0 thousand metric tons. Despite a few deviations, such as a decrease in 2016 and slight dip in 2020, the overall trend has been stable.
Notable year-on-year variations include a significant 33.33% decline in 2016 and a 50% rebound in 2017. Between 2019 and 2020, there was a slight 5% decline, followed by a 5.26% increase in 2021. However, the market remains flat in 2023, with a zero percent year-on-year variation.
Future projections from 2024 to 2028 indicate a modest average annual growth rate (CAGR) of 0.19%, leading to a forecasted market size of 3.04 thousand metric tons by 2028. Future trends to watch for include potential shifts in consumer preferences, technological advancements in oil production, and global supply chain impacts.
Bullet points:
- Market size in 2023: 3.0 thousand metric tons
- Year-on-year variations: significant decline in 2016 (-33.33%), rebound in 2017 (50%)
- CAGR over the past 5 years leading up to 2023: minimal
- Future CAGR (2024-2028): 0.19%
- Projected market size in 2028: 3.04 thousand metric tons
Future trends to watch for:
- Consumer preference changes
- Technological advancements in production
- Global supply chain impacts
