The demand for palm oil in Italy has experienced a steady decline from 1.65 million metric tons in 2014 to 1.16 million metric tons in 2023, marking a -2.27% yearly decrease in recent years. The Compound Annual Growth Rate (CAGR) for the past five years stands at -1.86%. Historically, the largest annual decreases occurred between 2015 and 2018. The forecasted values from 2024 to 2028 anticipate a continued downward trend, with a projected average annual decline rate of -2.07%, culminating in a demand of 1.02 million metric tons by 2028. Over the next five years, market forecasts indicate an overall reduction of 9.91% in palm oil demand.
Future trends to observe include potential shifts in consumer preferences towards sustainably-sourced or alternative oils, regulatory changes impacting the use of palm oil, and the influence of environmental campaigns on reducing palm oil consumption. Additionally, advancements in agricultural technology and supply chain efficiencies could also play significant roles in shaping the market dynamics.
