Analysis: The soybean oil market in Vietnam experienced fluctuations from 2014 to 2023, with volumes peaking at 98.0 thousand metric tons in 2016 and hitting lows of 65.0 thousand metric tons in 2015. In 2023, the market stood at 78.0 thousand metric tons, indicating no year-on-year change but a 0.51% average annual decline over the last five years.

Future Trends to Watch:

Projection indicates a gradual decline in market size, with a forecasted 1.06% annual reduction over the next five years, culminating in a 5.19% decrease by 2028.
Market stabilizers could include technological advancements, governmental policies, and changing consumer preferences towards healthier oils.
Global economic conditions and trade agreements might play a significant role in shaping the market landscape.