The forecast for the non-food uses of palm kernel oil in Brazil shows a declining trend, starting at 239 thousand metric tons in 2024 and decreasing to 229 thousand metric tons by 2028. This represents a gradual decline of around 4.2% over the period. In 2023, the usage was slightly higher, which indicates a steady downward trajectory in subsequent years. Year-on-year, the decrease in consumption ranges between 0.9% and 1.3%, reflecting a modest but consistent reduction over this timeframe. The Compound Annual Growth Rate (CAGR) over these five years is negative, highlighting a slow reduction.
Looking ahead, several factors could influence future trends for palm kernel oil's non-food usage in Brazil. Sustainable sourcing and environmental factors may push for reduced reliance on palm-based products. Alternative oils with similar properties might gain traction due to these environmental considerations. Additionally, innovation in the cosmetic and personal care sectors could alter demand dynamics.
