In 2023, Kenya's domestic consumption of palm oil stood at 850.0 thousand metric tons. Based on the forecasted data, there is a consistent year-on-year increase in palm oil consumption from 2024 to 2028. The consumption value is projected to rise from 873.0 thousand metric tons in 2024 to 964.0 thousand metric tons by 2028. This shows a steady annual growth in consumption.
Key Trends:
- From 2024 to 2025, the growth in palm oil consumption is forecasted at approximately 2.64%.
- From 2025 to 2026, the growth is forecasted at 2.57%.
- From 2026 to 2027, the growth is forecasted at 2.39%.
- From 2027 to 2028, the growth is forecasted at 2.45%.
The compound annual growth rate (CAGR) from 2024 to 2028 is approximately 2.52%, indicating a stable upward trend in palm oil consumption.
Future trends to watch for include the increasing demand driven by population growth, economic development, and changes in dietary patterns. Additionally, potential regulatory changes and environmental sustainability concerns may impact both production and consumption patterns in the long term.
