The soybean oil market size in Austria has exhibited stable yet moderate growth over the past decade. Starting from 8.0 thousand metric tons in 2014, it increased to 11.0 thousand metric tons by 2023. The market volume saw a notable dip in 2016 but subsequently stabilized with only minor fluctuations, maintaining a value of 10.0 thousand metric tons from 2017 to 2021. In 2022, it increased by 10% to 11.0 thousand metric tons, where it stood in 2023. The compound annual growth rate (CAGR) for the last five years is 1.92%.
- 2014–2018: Generally steady growth with a significant increase in 2015 (25%) and a drop in 2016 (-10%).
- 2019–2023: The market volume remained mostly steady with a notable rise in 2022 (10%).
In the forecast period from 2024 to 2028, the market size is expected to grow at a forecasted 5-year CAGR of 1.76%, reaching 12.0 thousand metric tons in 2028, marking a 9.09% cumulative growth rate.
Future Trends to Watch For:
- Sustainability initiatives in agriculture and production.
- Fluctuations in global soybean prices.
- Advances in alternative vegetable oil production technologies.
