The soybean oil processing industry in Mexico has shown varied trends over the years. Between 2014 and 2018, values fluctuated with minor ups and downs, seeing gains in years like 2015 and 2018 but a significant drop in 2016. From 2019 to 2023, the sector largely stabilized around 94 to 95 thousand metric tons, reflecting minimal year-on-year variation. The compound annual growth rate (CAGR) over the last five years (up to 2023) stands at -0.42%, indicating a slight but consistent decline. Despite this, projections from 2024 to 2028 suggest a steady state with an anticipated CAGR of 0%, indicating no expected growth or decline during that period.
Future Trends to Watch For:
- Technological advancements in processing techniques.
- Potential shifts in domestic demand for soybean oil.
- Impact of global trade policies and tariffs on raw soybean imports.
- Environmental and sustainability regulations affecting production methods.
