In 2023, Australia's demand for sunflowerseed oil stood at 82.0 Thousand Metric Tons. The forecast data for the period 2024 to 2028 shows a consistent year-on-year increase in demand. Specifically, sunflowerseed oil demand is set to rise to 84.0 Thousand Metric Tons in 2024, representing a year-on-year variation of approximately 2.44%. This positive trend continues with increases to 86.0 Thousand Metric Tons in 2025 (2.38% YoY), 87.0 Thousand Metric Tons in 2026 (1.16% YoY), 89.0 Thousand Metric Tons in 2027 (2.30% YoY), and 91.0 Thousand Metric Tons in 2028 (2.25% YoY).
The compound annual growth rate (CAGR) over this five-year period is approximately 2.14%, indicating a steady rise in demand for sunflowerseed oil in Australia.
Future trends to watch for include potential shifts in consumer preferences towards healthier cooking oils, government policies promoting local agriculture, and changes in global sunflowerseed oil prices which could impact domestic demand.
