The palm oil demand in Sweden has shown substantial fluctuations from 2014 to 2023. After a dip in 2015, the demand robustly increased through 2018, achieving a notable peak driven by a 25.6% rise in 2018. From 2019, the growth stabilized with moderate year-on-year increases, reaching 162 thousand metric tons in 2023, reflecting a 1.89% increase over 2022. Over the past five years, the compound annual growth rate (CAGR) has averaged at 0.63%, indicating overall modest growth.
Looking ahead to 2028, the forecast predicts a steady rise in demand, projecting a 1.3% annualized growth rate and an overall 6.67% increase over five years. Key trends to watch include shifts in consumer preferences towards sustainable and eco-friendly products, regulatory impacts on palm oil usage, and innovations in alternative oils that may influence future demand dynamics in Sweden.
