Saudi Arabia's palm oil consumption in 2023 stood at 511.0 thousand metric tons. The forecasted data for the years 2024 to 2028 show a steady increase in domestic consumption, starting with 519.0 thousand metric tons in 2024 and rising to 550.0 thousand metric tons by 2028. The year-on-year growth rates are as follows: 2024 to 2023 is 1.57%, 2025 to 2024 is 1.54%, 2026 to 2025 is 1.52%, 2027 to 2026 is 1.50%, and 2028 to 2027 is 1.29%. The Compound Annual Growth Rate (CAGR) over the last five years is approximately 1.54%.
Future trends to watch for include fluctuations in global palm oil prices, shifts in dietary preferences, and potential changes in trade policies that could impact imports. Additionally, local production efforts and sustainability initiatives could influence consumption patterns.
