Based on the forecast data, domestic consumption of soybean oil in Saudi Arabia shows steady growth from 2024 to 2028. The value for 2023 stands at 91.0 thousand metric tons. The year-on-year growth rates are as follows: from 2023 to 2024, a 3.3% increase; from 2024 to 2025, a 3.2% increase; from 2025 to 2026, a 4.1% increase; from 2026 to 2027, a 3.0% increase; and from 2027 to 2028, a 3.8% increase. The compound annual growth rate (CAGR) from 2024 to 2028 is 3.5%, indicating a consistent upward trend in soybean oil consumption.
Future trends to watch for include potential policy changes regarding edible oil imports, shifts in consumer dietary habits, and the impact of technological advancements in agricultural practices. Monitoring these factors will be crucial for understanding the sustainability of this growth trajectory.
