In 2023, the consumption of soybean oil by tourists in China stood at X thousand metric tons. Based on forecasts, the coming years will see an incremental increase in consumption:
- 2024: 1.02 thousand metric tons
- 2025: 1.04 thousand metric tons
- 2026: 1.05 thousand metric tons
- 2027: 1.07 thousand metric tons
- 2028: 1.08 thousand metric tons
The growth from 2024 to 2028 reflects a consistent upward trend, with an annual increase of 0.02-0.03 thousand metric tons. Year-on-year variation for 2024-2025 is 1.96%, for 2025-2026 is 1.0%, and for 2026-2027 is 1.9%, with a compounded annual growth rate (CAGR) indicating a steady rise.
Future trends to watch include increasing dietary preferences for soybean-based products among tourists and strategic marketing of soybean oil as a healthy cooking alternative, which could expand the market significantly.
