The demand for soybean oil in Italy showed an increasing trend from 2014 to 2023, with a notable surge in 2016. By 2023, the demand stood at 327 thousand metric tons. Year-on-year variations highlighted notable growths such as 16.67% in 2016 and a slight contraction in 2015. The compound annual growth rate (CAGR) over the last five years, up to 2023, has been steady at 1.07%. Future forecasts suggest a continued albeit slower growth rate, with a projected CAGR of 0.77% until 2028, implying an overall growth of 3.93% into 2028.
Future trends to watch for include:
- Potential impact of sustainability initiatives and changing consumer preferences towards plant-based or organic oils.
- Market disruptions due to geopolitical factors affecting global supply chains.
- Technological innovations in agricultural practices enhancing yield efficiencies.
