The demand for sesame seed oil in Saudi Arabia has shown moderate fluctuations over the past decade, with 2023 witnessing a demand of 24.0 thousand metric tons. Significant changes include a 20.48% increase in 2021 in the wake of a 17% decline in 2020, likely due to external shocks affecting supply chains and consumer demand. From 2014 to 2023, the Compound Annual Growth Rate (CAGR) remained relatively stable despite these fluctuations.
Looking forward, the demand is forecasted to slightly increase from 24.11 thousand metric tons in 2024 to 24.39 thousand metric tons by 2028, suggesting a steady but minimal growth rate over the next five years with a CAGR of 0.23%.
Future trends to watch for include:
- Potential market disruptions due to economic or environmental factors.
- Increasing consumer awareness and preferences for natural and healthy oils.
- Technological advancements in agricultural practices that may influence production output.
- Regional trade policies and their impact on import/export dynamics.
