In Saudi Arabia, the cottonseed oil market has shown fluctuations between 2014 and 2023. It stood at 16.0 thousand metric tons in 2014, dropped to 14.0 thousand metric tons in 2015, and remained steady until 2019. A significant decline occurred in 2020 to 11.62 thousand metric tons, after which the market recovered slightly to 13.0 thousand metric tons between 2021 and 2023. Over the past five years, the market experienced a compound annual growth rate (CAGR) of -1.47% up to 2023.
Future trends indicate a gradual decline in market volume, with forecasts suggesting a decrease to 12.11 thousand metric tons by 2028, reflecting a forecast 5-year CAGR of -1.06% and an overall projected growth rate of -5.17% by 2028.
Future trends to watch for include:
- Fluctuations in demand and supply influenced by changes in agricultural policies.
- Potential impact of global economic conditions on the market.
- Shifts in consumer preferences towards alternative oils.
