In 2023, India led global vegetable oil imports with a 15.08% share, followed by China at 9.49%, and the Netherlands with 8.11%. The United States held 5.68%, while Spain accounted for 3.9%. Key trends show that India saw a year-on-year increase of 1.48%. The Netherlands grew by 1.53%, while the United States and Pakistan each increased by 1.14%. Alternatively, Germany decreased by 1.06% and Nigeria by 1.57%. Notable trends included significant increases in Kenya (4.1%) and Myanmar (5.18%). Conversely, Venezuela observed a significant decline of 9.38% over the past year, showing areas of concern.
Future trends to watch in the global vegetable oils market include the potentially growing market shares of developing nations and the impact of policy changes related to sustainable sourcing and climate change mitigation. The evolving geopolitical landscape and trade agreements will also play critical roles in shaping the import dynamics in the coming years.
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 India | 15.08 | 2023 | +1.13% | +1.48% | View data |
| 2 | 2 China | 9.49 | 2023 | 0% | 0% | View data |
| 3 | 3 Netherlands | 8.11 | 2023 | +1.77% | +1.53% | View data |
| 4 | 4 United States | 5.68 | 2023 | +1.11% | +1.14% | View data |
| 5 | 5 Spain | 3.9 | 2023 | +2.42% | +2.75% | View data |
| 6 | 6 Pakistan | 3.16 | 2023 | +1.39% | +1.14% | View data |
| 7 | 7 Italy | 3.03 | 2023 | -0.54% | -0.6% | View data |
| 8 | 8 Bangladesh | 2.75 | 2023 | +1.56% | +1.17% | View data |
| 9 | 9 Germany | 2.5 | 2023 | -1.81% | -1.06% | View data |
| 10 | 10 Malaysia | 2.44 | 2023 | +1.6% | +0.77% | View data |
