The forecasted data shows a steady increase in the non-food uses of palm oil in Japan from 673.0 thousand metric tons in 2024 to 718.0 thousand metric tons in 2028. This indicates a gradual year-on-year growth ranging approximately between 1.64% and 1.56% annually, reflecting a consistent upward trend. The compound annual growth rate (CAGR) over these five years is suggestive of a stable increase in demand for palm oil for industrial and other non-food applications.
Future trends to watch include the impact of sustainability initiatives and regulatory policies on palm oil usage. Additionally, advancements in alternative materials and biotechnology could influence the demand trajectory, as industries may shift towards more sustainable options.
