The UK palm oil market has seen notable fluctuations from 2012 to 2022. Initially, from 2012 to 2014, the market experienced significant growth. However, between 2015 and 2016, there were declines in usage volumes. Post-2016, the market rebounded with a notable spike in 2017, followed by consistent growth thereafter. The last two years reflected moderate yet steady increases, with 2021 and 2022 showing 3.00% and 2.86% growth, respectively. The CAGR from 2017 to 2022 stood at 4.63%, indicating resilient growth over the mid-term horizon.
In 2023, the palm oil market in the UK is estimated around 670 million kilograms, continuing its upward trajectory. Future trends to watch for include the potential impact of heightened regulatory measures on sustainable sourcing, shifts in consumer preferences towards eco-friendly products, and the influence of global supply chain dynamics. Monitoring technological advancements in alternative oil production and their market penetration will be crucial for anticipating further changes.
How does the United Kingdom rank in Palm Oil Market Size Volume?
| # | 7 Countries | Kilograms | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Netherlands | 740,180,000 | 2023 | -0.025% | -0.8% | View data |
| 2 | 2 United Kingdom | 663,350,000 | 2023 | +2.72% | +2% | |
| 3 | 3 Belgium | 563,500,000 | 2023 | +0.72% | +3.39% | View data |
| 4 | 4 Germany | 477,840,000 | 2023 | -4.48% | -2.35% | View data |
| 5 | 5 Sweden | 198,380,000 | 2023 | +4.07% | +4.92% | View data |
