The palm oil demand in Germany has seen significant fluctuations over the past decade. After a peak to 1040.0 thousand metric tons in 2016, there was a sharp decline, particularly notable from 2017 onwards. By 2023, palm oil demand was at 225.0 thousand metric tons, marking a substantial year-on-year decrease of 16.04%. The Compound Annual Growth Rate (CAGR) over the last five years stands at -7.6%, highlighting a consistent downward trend.
Looking forward, forecasts suggest a stark reduction in demand, continuing up to 2028 with a 5-year forecasted CAGR of -55.81%. The palm oil demand is projected to nearly disappear by 2028, approaching minimal levels with a predicted decrease of over 98% from 2023 values.
Future trends to watch include:
- Growing consumer awareness and shifting preferences towards sustainable and eco-friendly products.
- Regulatory changes and policies aimed at reducing environmental impact.
- Innovations and alternatives in the food and cosmetic industries that may replace palm oil.
