The demand for sunflowerseed oil in Thailand experienced stability between 2014 and 2017 at 17.0 thousand metric tons. A significant jump occurred in 2018, with a 47.06% increase, taking the value to 25.0 thousand metric tons. Despite slight fluctuations, the demand remained relatively stable around this level up to 2023, which recorded a value of 25.0 thousand metric tons, showing no year-on-year variation from the previous year. The CAGR between 2019 and 2023 was minimal, showing almost no growth.
The forecasted data from 2024 to 2028 shows a slight upward trend. The demand is expected to grow to 27.81 thousand metric tons by 2028, with an anticipated 1.6% CAGR over the forecast period, reflecting an 8.25% growth rate altogether from 2023 to 2028.
Future trends to watch for:
- Changes in consumer preferences towards healthier oils could impact sunflowerseed oil demand.
- Possible economic changes, such as income variations and market disruptions.
- Government policies on agricultural imports and local production could alter demand dynamics.
