In Thailand, the sunflower seed oil market size volume has shown noticeable variation over the years. In 2023, the volume stood at 25.0 thousand metric tons, with a 0% year-on-year change from 2022. A significant increase was observed in 2018 with a 47.06% year-on-year growth, followed by a slight decline in 2019. Over the last five years up to 2023, the market exhibited a healthy CAGR of 8.02% culminating with 0% growth in 2023.
Looking ahead, from 2024 onwards, the market is forecasted to grow at a steady pace, projected to reach 28.0 thousand metric tons by 2028, indicative of a forecasted 5-year CAGR of 1.49% and an overall 7.69% growth rate during this period.
Future trends to watch for:
- Shifts in consumer preferences towards healthier edible oils.
- Potential impacts of agricultural policies and import-export regulations.
- Technological advancements in oil extraction and processing.
- Global economic factors influencing raw material availability and pricing.
