Based on the provided data, the forecasted demand for maize oil in Kenya is relatively stable, with a slight upward trend from 2024 to 2028. In 2024, the demand is forecasted to be 22.1 thousand metric tons, maintaining this level in 2025 before incrementally increasing to 22.2 thousand metric tons in 2026, and then to 22.3 thousand metric tons in 2027 and 2028. It's notable that the demand stood at 21.9 thousand metric tons in 2023, indicating a small but steady year-on-year growth.
Year-on-year variation over the last two years shows a growth rate of approximately 0.91% in 2024 and stable growth of about 0.91% across subsequent years. The Compound Annual Growth Rate (CAGR) over the last five years stands at around 0.91%, reflecting a consistent annual increase in maize oil demand.
Future trends to watch for:
- Impact of economic growth and consumer income levels on edible oil consumption patterns.
- Changes in dietary preferences, potentially driven by health and wellness trends.
- Market dynamics, including import-export regulations and local production capabilities.
