The oilseeds processing volume in Vietnam showed a steady increase from 1.12 million metric tons in 2014 to 1.47 million metric tons in 2023. The growth rate fluctuated over the years, with significant expansions in 2015 and 2018 and a notable plateau in 2019. In recent years, the year-on-year growth rate has stabilized around 1.3%, and the compound annual growth rate (CAGR) over the past five years is approximately 1.14%.
Looking forward, the oilseeds processing volume is projected to reach 1.57 million metric tons by 2028, growing at a forecast 5-year CAGR of 0.96%. This indicates a gradual but continued expansion, with an overall forecast growth rate of 4.89% over the forecast period.
Future trends to watch for:
- Technological advancements in oilseed processing techniques to enhance efficiency.
- Potential shifts in trade policies affecting import and export dynamics.
- Trends in consumer preferences for plant-based oils and health-conscious products.
- Global oilseed market fluctuations and their impact on Vietnam's processing industry.
