The production of refined palm oil in Italy witnessed a substantial increase from 2013 to 2015, peaking at 189.06 million kilograms. However, there was a decline in production from 2016 to 2018, reaching a low of 114.72 million kilograms in 2018. Recovery was observed from 2019 to 2021 with moderate growth, but the production slightly dipped again in 2022. In 2023, the production stood at 146.72 million kilograms, showing a modest year-on-year increase of 1.27%. Over the last five years, the compound annual growth rate (CAGR) was 5.04%, indicating a gradual upward trend.
Future projections suggest a steady increase in production, with an estimated value of 155.64 million kilograms by 2028. The forecasted 5-year CAGR is 0.94%, reflecting a slower but consistent growth rate. Observing this trend, the total forecasted growth rate over these five years is 4.78%.
Future trends to watch for include changes in global palm oil prices, shifts in consumer demand towards sustainable and eco-friendly products, and regulatory developments affecting the palm oil industry in Italy and the broader EU region.
