From 2014 to 2018, the use of palm oil for non-food purposes in Austria fluctuated significantly, reaching a peak in 2015 with a year-on-year increase of 11.43%. However, there was a general declining trend, particularly from 2016 to 2017 and consistently from 2019 onward. By 2023, the usage stabilized at 33 thousand metric tons, showing no year-on-year change. Over the last five years, usage declined at a compound annual growth rate (CAGR) of -0.6%.
Future forecasts indicate a continuous slight decline, with usage expected to drop to 32 thousand metric tons by 2028, reflecting a -0.61% CAGR over the next five years. Notable trends to watch for include:
- Increasing consumer and regulatory pressures for sustainable and alternative sources.
- The potential technological advancements in palm oil substitutes.
- Market reactions to global environmental initiatives.