The sold production of refined palm oil in the UK experienced notable fluctuations from 2013 to 2023. After a peak in 2015 at a value of 355.81 million euros, a significant decline occurred, reaching a low in 2020 at 262.51 million euros. However, a positive adjustment has been seen since 2021, with incremental growth leading to 280.95 million euros in 2023. The year-on-year variation between 2022 and 2023 was a modest 0.54%, demonstrating stabilization. The CAGR over the last five years indicates an average annual growth rate of 0.29%.
Looking at future trends:
- The forecast from 2024 to 2028 suggests a steady growth momentum, with an expected 5-year CAGR of 0.44%.- By 2028, the value is anticipated to reach 288.83 million euros, marking a cumulative 2.2% growth over this period. - Industry stakeholders should monitor factors such as regulatory changes, environmental concerns, and shifts in consumer preferences, which could influence the refined palm oil market.
