The maize oil market size volume in Saudi Arabia peaked at 48.0 thousand metric tons in 2014, followed by a significant decline to 32.0 in 2015. The market saw fluctuations over the years, with notable growth in 2016 and a decline thereafter, stabilizing at around 33.0 thousand metric tons in 2022. As of 2023, the market stood at 32.0 thousand metric tons, with a year-on-year decline of -3.03%. The average annual variation (CAGR) over the last five years was -1.78%, indicating a declining trend.
Looking forward, the forecasted data up to 2028 suggests a continued decline, with the market expected to reach 27.63 thousand metric tons by 2028. The forecasted average annual variation over the next five years is -2.31%, implying an overall reduction of -11.04% over this period.
Future trends to watch for include potential shifts in consumer preferences, changes in import/export policies, and fluctuations in global crude prices, which could influence the maize oil market in Saudi Arabia. Additionally, developments in alternative edible oils and the push for healthier dietary options might impact future demand.
