The forecasted domestic consumption of peanut oil in India shows a slight decline from 2024 to 2028. In 2023, the consumption was recorded at approximately 1.09 million metric tons. By 2024, it is expected to decrease marginally to 1.08 million metric tons, with further decreases annually, resulting in a consumption level of 1.05 million metric tons by 2028.
Year-on-year variations indicate a consistent decline in consumption, with a slight dip of 0.01 million metric tons each year starting from 2025. The compound annual growth rate (CAGR) over this forecast period suggests a steady average annual decline.
Future trends to watch for include:
- Changes in dietary preferences and health trends, as shifts towards healthier cooking oil options could accelerate the decline in peanut oil consumption.
- Impact of economic factors such as inflation, income growth, and pricing of alternative edible oils, influencing household purchasing decisions.
- Potential changes in agricultural policies affecting peanut production, which might alter supply and cost dynamics.
