In 2023, Australia’s palm oil domestic consumption was recorded at 83.0 thousand metric tons. Forecasted data indicates a gradual increase in consumption levels from 84.0 thousand metric tons in 2024 to 86.0 thousand metric tons by 2028. This represents an average yearly growth in consumption of around 0.9% (CAGR) over the five-year period.
Year-on-year variations are relatively stable:
- From 2024 to 2025, an increase of approximately 1.2% is anticipated.
- No change in consumption is expected from 2025 to 2027.
- A 1.2% rise is forecasted from 2027 to 2028.
Future trends to watch for include emerging consumer preferences for sustainable and ethically sourced palm oil, potential regulatory changes, and the influence of alternative oils and plant-based products. These factors could impact both the supply and demand dynamics in Australia’s palm oil market in the coming years.
