As of 2023, palm oil non-food uses in the United Kingdom were recorded at approximately 320.0 thousand metric tons. Forecast data from 2024 to 2028 indicate a stable trend initially, maintaining the volume at 320.0 thousand metric tons for 2024 and 2025. A slight decrease is projected thereafter, with volumes reaching 319.0 thousand metric tons in 2026 and 2027, and dipping to 318.0 thousand metric tons by 2028.
The year-on-year analysis for 2024 and 2025 shows zero percent change, while the subsequent years indicate a declining trend of about 0.31% annually. The compound annual growth rate (CAGR) over the forecast period (2024-2028) reflects a mild decrease.
Future trends to watch for include:
- Increasing environmental regulations could impact palm oil demand.
- Shifts towards sustainable alternatives and consumer preferences might affect non-food uses.
- Technological developments in alternative oil production could influence market dynamics.