In 2023, China's domestic food consumption of soybean oil stood at approximately 17.70 million metric tons. From 2024 to 2028, the forecasted data shows a gradual increase from 18.08 million metric tons in 2024 to 19.59 million metric tons in 2028. This indicates a steady rise in consumption with average year-on-year growth rates of around 2.1% to 2.3% over the years. The average compound annual growth rate (CAGR) for the period 2024-2028 is observed to be consistent, reflecting a stable demand trend in the domestic market.

Future trends to watch for include:

Changes in dietary habits and preferences among the Chinese population.
Impact of government policies on soybean oil import and production.
Technological advancements in the agricultural sector, potentially influencing yield and supply.
Global market dynamics and trade relations affecting soybean oil availability and pricing.