Between 2014 and 2023, the vegetable oils market in Mexico demonstrated a general upward trend from 1.21 million metric tons to 1.36 million metric tons with some fluctuations. The market saw the highest year-on-year growth of 6.21% in 2018 and notable declines like -4.35% in 2020. The average annual growth rate (CAGR) over the past five years was 0.37%, signaling moderate market stability.
From 2024 onwards, the forecast data predicts a continued but modest growth trajectory, with the market reaching 1.4 million metric tons by 2027 and maintaining this level into 2028. The forecasted CAGR for the five-year period is anticipated to be 0.51%, translating to an overall growth rate of 2.59% in this time frame.
Future trends to watch for include shifts in consumer dietary preferences, advancements in oil extraction technology, and potential regulatory changes related to agriculture and food safety standards, which could impact market dynamics.
