The palm oil market in Belgium has exhibited a fluctuating trend over the past decade, starting at 440.95 million kilograms in 2012 and rising to 569.69 million kilograms in 2022. The market experienced notable dips in 2015 and 2016, followed by a strong recovery in 2017. The most significant growth occurred in 2020 with a 21.39% increase. Over the last two years, the market showed mild volatility, with a small decline in 2021 followed by a modest increase in 2022. The Compound Annual Growth Rate (CAGR) over the last five years stands at 2.69%, indicating a positive, though varied, growth trend.
Future trends to watch for:
- Regulatory changes impacting palm oil production and usage.
- Shifts in consumer preferences towards sustainable and ethical sourcing.
- Technological advancements in alternative oils potentially disrupting the market.
How does Belgium rank in Palm Oil Market Size Volume?
| # | 7 Countries | Kilograms | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Netherlands | 740,180,000 | 2023 | -0.025% | -0.8% | View data |
| 2 | 2 United Kingdom | 663,350,000 | 2023 | +2.72% | +2% | View data |
| 3 | 3 Belgium | 563,500,000 | 2023 | +0.72% | +3.39% | |
| 4 | 4 Germany | 477,840,000 | 2023 | -4.48% | -2.35% | View data |
| 5 | 5 Sweden | 198,380,000 | 2023 | +4.07% | +4.92% | View data |
