The analysis of palm kernel oil non-food uses in Canada indicates a steady upward trend from 2014 to 2023, with values rising from 7.0 thousand metric tons in 2014 to 16.0 thousand metric tons in 2023. There was significant growth in certain years, notably a 55.56% increase in 2017 compared to 2016, and a 28.57% increase in 2016 compared to 2015. The last two years have seen a 6.67% year-on-year growth, showcasing a stable demand trajectory. The CAGR over the last five years stands at 4.24%, suggesting moderate annual growth.
Looking ahead, the forecasted CAGR from 2024 to 2028 is anticipated to be 2.38%, with the total growth rate expected to be 12.5% over this period. Future trends to watch include potential impacts from sustainability initiatives, changes in consumer preferences, and technological advancements in production and non-food applications of palm kernel oil.
