The data for palm oil non-food uses in Italy shows a clear declining trend from 2014 to 2023, where the volume stood at 895,000 metric tons. The year-on-year variation for 2023 was -2.93%, reflecting a consistent decrease in recent years. Looking at the CAGR over the last five years, we observe an average annual decrease of -2.29%. The decline is evident with significant drops in 2015 and 2016, while the rate of decline stabilized somewhat in 2019 and 2020 before continuing its downward trajectory.
Looking to the future, the forecasted data up until 2028 predicts a continued decline in palm oil non-food uses, with a forecasted CAGR of -2.71% over the next five years, resulting in an overall reduction of 12.83% from 2023 levels. Key trends to watch for include potential shifts in regulatory policies, technological advancements in alternatives to palm oil, and changing consumer preferences that could accelerate or mitigate this decline.
