Based on the data provided, the projected domestic consumption of palm kernel oil in India shows an increasing trend. In 2024, the value is anticipated to be 168.0 thousand metric tons, progressively rising to 181.0 thousand metric tons by 2028. This trend indicates a steady growth in consumption.
When observing year-on-year variations, the percentage increases are as follows: - 2024 to 2025: approximately 1.79%- 2025 to 2026: approximately 1.75%- 2026 to 2027: approximately 2.30%- 2027 to 2028: approximately 1.69%
The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is around 1.89%, showing a consistent upward trajectory in demand for palm kernel oil over the next five years.
Future trends to watch for include potential changes in consumption patterns due to economic shifts, health considerations, and policy changes impacting palm kernel oil importation and production. Additionally, sustainability concerns and advancements in alternative oil sources could influence the market dynamics.
