The palm oil market size volume in South Korea showed a value of 190.0 thousand metric tons in 2023. The forecasted data for the years 2024 to 2028 indicate a steady and gradual increase. Specifically, the market is expected to grow from 192.0 thousand metric tons in 2024 to 197.0 thousand metric tons in 2028. The year-on-year variations show incremental growths around 0.5% to 1.0% per year. The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is approximately 0.7%.
Future trends to watch for include potential shifts in consumer preferences towards sustainable and ethically sourced palm oil, regulatory changes impacting palm oil imports and usage, and advancements in palm oil alternatives that may influence demand in South Korea. Additionally, macroeconomic factors and industry-specific developments could also shape the market landscape.
