In 2023, the rapeseed oil and mustard oil processing in China stood at approximately 22.0 thousand metric tons. From the forecast data from 2024 onwards, a declining trend is evident: 21.0 thousand metric tons in 2024, decreasing annually to reach 18.0 thousand metric tons by 2028. This indicates a consistent year-on-year decline. The five-year compound annual growth rate (CAGR) highlights an average annual reduction, reflecting a decreasing demand or possible shifts in the agricultural landscape and processing technologies.
Future trends to watch for include:
- Changes in consumer preferences and dietary trends impacting demand.
- Policy and regulatory arrangements concerning agriculture and oil processing industries.
- Possible advances in processing efficiency or alternative oils capturing market share.
- Impact of economic factors such as trade agreements or tariffs.