From 2013 to 2023, the production of crude soya-bean oil in Italy exhibited significant fluctuations initially, with a sharp rise in 2015 followed by a moderate upward trend. Specifically, the production stood at 172.22 million kilograms in 2023, after experiencing a year-on-year growth of 1.43% from 2022. Over the last five years, the Compound Annual Growth Rate (CAGR) was 1.54%. Forecasting up to 2028, production is expected to continue its upward trajectory, albeit at a slightly reduced CAGR of 1.12%, leading to a total growth of 5.73% over the next five years.
Future trends to watch for:
- Monitoring shifts in global demand for plant-based oils which may drive production changes.
- Evaluating the impact of agricultural policies and trade agreements on domestic production.
- Assessing potential technological advances in farming and oil extraction processes.
- Keeping an eye on climate change effects which could alter crop yields and production capability.
- Observing consumer preference trends towards sustainable and health-centric dietary options.