In 2023, soybean oil distribution in China was at 18.90 million metric tons. According to forecasted data, the distribution is set to grow to 19.32 million metric tons in 2024, marking an increase of 2.22% year-on-year. The yearly distribution is expected to continue increasing, with the projections for 2025 at 19.75 million metric tons (a 2.23% increase), 2026 at 20.18 million metric tons (2.18% increase), 2027 at 20.61 million metric tons (2.13% increase), and 2028 at 21.03 million metric tons (2.04% increase).
The Compound Annual Growth Rate (CAGR) over the five years from 2024 to 2028 is projected to be approximately 2.16%.
Future trends to watch for:
- Changes in domestic agricultural policies affecting soybean production.
- Fluctuations in global soybean prices and their impact on China's imports.
- Shifts in consumer preferences towards healthier cooking oils.
- Technological advancements in oil extraction and processing methods.
