The demand for rapeseed oil and mustard oil in Australia is expected to see a steady increase from 2024 through 2028, starting at 250.0 thousand metric tons in 2024 and reaching 255.0 thousand metric tons by 2028. This follows from actual data up to 2023. Year-on-year variation shows minor increases, with 2025 anticipating a 0.4% rise from 2024, followed by 2026 at 0.8%, 2027 at 0.4%, and 2028 at approximately 0.4%. The CAGR over the five-year period from 2024 to 2028 is approximately 0.4%. Given these steady, albeit modest, increases, the industry is expected to continue to grow at a consistent pace over the next several years.
Future trends to watch for include shifts in consumer preferences towards healthier oil choices, potentially affecting demand for rapeseed and mustard oils. Additionally, global supply chain dynamics, climatic changes impacting oilseed production, and fluctuating international trade policies will also play critical roles in shaping the market.
