By 2024, Kenya's domestic food consumption of palm oil is forecasted to reach 873 thousand metric tons, an increase from the actual 2023 figure. The data suggests a steady upward trend in the following years, reaching 964 thousand metric tons by 2028. Year-on-year growth rates from 2024 to 2028 are expected to be approximately 2.6%. Over the two years leading up to 2024, consumption grew significantly, also indicating positive growth. The Compound Annual Growth Rate (CAGR) from 2024-2028 is projected to be around 2.5%, reflecting a consistent annual increase.
Future trends to watch for include potential impacts of global palm oil market fluctuations, shifts in local agricultural policies, and changing consumer preferences towards sustainable and environmentally friendly products. Monitoring these factors will be crucial for accurate forecasting and strategic planning.
