The demand for vegetable oils in Sweden showed variability over the years from 2014 to 2023. In 2023, the consumption stood at 814.0 thousand metric tons. The earlier period saw fluctuations with notable declines in 2015 by 7.88% and significant increases such as in 2016 by 18.26%. From 2018 onwards, the market entered a more stable growth phase, averaging annual increases just over 1%. The CAGR over the last five years was 1.07%, suggesting steady growth.
Future trends indicate a continued upward trajectory, with forecasted growth in the next five years at a CAGR of 0.81%. By 2028, the demand is projected to be around 857.0 thousand metric tons. The overall expected growth rate from 2024 to 2028 is 4.13%.
Trends to watch for:
- Potential shifts in consumer behavior towards more sustainable and healthy cooking oils.
- The impact of economic factors on purchasing power and consumption.
- Technological advancements in agriculture and oil extraction processes that might affect supply and prices.
