In 2023, India emerged as the leader in global palm oil domestic food consumption with an impressive year-on-year increase of 1.83%. Indonesia followed with a significant 4.53% rise, while China experienced a dip of 3.32%. Pakistan and Bangladesh saw moderate growth, contributing to their steady positions. Nigeria and the United States demonstrated healthy growth rates of 5.81% and 5.75%, respectively. Among other notable countries, Colombia witnessed the highest increase of 7.74%, whereas Ukraine and Sri Lanka showed substantial declines, facing reductions of 17.15% and 21.84%, respectively.
Looking ahead, the following future trends are worth monitoring:
- Increasing demand in Asia, particularly in India and Indonesia, driven by growing populations and rising incomes
- Potential policy shifts and sustainability concerns impacting consumption patterns in developed nations like the United States and European countries
- The effect of economic recovery post-pandemic on emerging markets and their palm oil consumption
- Technological advancements and innovations in palm oil production and alternative uses
- Environmental regulations and consumer preferences shifting towards more sustainable and eco-friendly products
Top countries in Palm Oil Domestic Food Consumption Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 India | 18.05 | 2023 | +9.64% | +1.83% | View data |
| 2 | 2 Indonesia | 14.28 | 2023 | +4.35% | +4.53% | View data |
| 3 | 3 China | 7.54 | 2023 | +18.75% | -3.32% | View data |
| 4 | 4 Pakistan | 7.14 | 2023 | +2.86% | +2.07% | View data |
| 5 | 5 Nigeria | 3.22 | 2023 | +4.84% | +5.81% | View data |
| 6 | 6 United States | 3.2 | 2023 | +0.94% | +5.75% | View data |
| 7 | 7 Bangladesh | 2.97 | 2023 | -3.23% | +2.13% | View data |
| 8 | 8 Thailand | 2.66 | 2023 | -0.74% | +4.6% | View data |
| 9 | 9 Egypt | 2.16 | 2023 | +1.87% | -0.18% | View data |
| 10 | 10 Philippines | 2.15 | 2023 | +5.85% | +0.56% | View data |
