The Palm Kernel Oil market volume in China has experienced steady growth from 2014, where it stood at 87.0 thousand metric tons, to 2023, reaching 105.0 thousand metric tons. Notable growth rates include 4.44% in 2016 and 6.3% in 2021. The market saw a decline in 2020 due to external factors, with a year-on-year decrease of -4.06%. However, recovery was evident with a 6.3% increase in 2021. The CAGR over the last five years (2019-2023) averaged at 0.78%. By 2028, the market size is forecasted to reach 110.33 thousand metric tons, representing a 3.95% overall growth from 2023, with a projected CAGR of 0.78%.
Future trends to watch for include the influence of sustainability practices, shifts towards renewable and eco-friendly resources, and potential impacts of geopolitical and trade regulations. Technological advancements in oil extraction and processing could also play a significant role in shaping the market dynamics.
