The projected per capita consumption of soybean oil in India shows a steady growth trajectory from 2.24 kg in 2024 to 2.31 kg in 2028. In 2023, the per capita consumption stood at approximately 2.22 kg, reflecting a consistent annual increase. The year-on-year growth remains modest, averaging around 0.86% over this period. This indicates a stable yet cautious market expansion, underpinned by gradual improvements in dietary preferences and availability.
Looking ahead, trends to watch include potential impacts of crop yield variations, global price fluctuations, and shifts in consumer dietary preferences towards healthier oils, which may influence the growth rate of soybean oil consumption in the coming years. Monitoring these dynamics will be crucial for stakeholders in anticipating market shifts.
