The vegetable oils market volume in Spain stood at 1.43 million metric tons in 2023. From 2014 to 2023, the market exhibited steady growth, with notable increases in 2015 (5.12%) and 2017 (4.62%). The year-on-year variation from 2022 to 2023 was 0.7%, consistent with a recent growth trend. Over the last five years (2019-2023), the market demonstrated a Compound Annual Growth Rate (CAGR) of 0.7%.
The forecast from 2024 to 2028 projects a more moderate growth trajectory, with a five-year CAGR of 0.51%, translating to an overall growth rate of 2.57% by 2028.
Future trends to watch for include shifts in consumer preferences towards healthier oils and sustainable production practices, which may influence market dynamics and growth rates in the coming years.
