The palm oil market size in India has seen a consistent increase in volume from 1.5 million metric tons in 2014 to 2.47 million metric tons in 2023. The year-on-year growth rate from 2023 stood at 2.11%, while the compound annual growth rate (CAGR) over the past five years was 2.18%. Notable jumps occurred in 2015 with a 33.33% increase and 2017 with a 3.74% rise. The forecasted data suggests a sustained growth trajectory, reaching 2.71 million metric tons by 2028, with a projected five-year CAGR of 1.47% and an overall growth rate of 7.59% by 2028.
Future trends to watch for include the impact of sustainable sourcing practices on market dynamics, policy changes affecting imports, and potential shifts towards alternative vegetable oils driven by health and environmental concerns.
