Sweden's imports of refined soya-bean oil witnessed significant fluctuations over the last decade. "In 2023, imports stood at 1,538.6 thousand kilograms, marking a year-on-year increase of 4.94%." The initial period from 2013 to 2018 saw varying growth rates with some marked declines, particularly between 2016 and 2017.
The notable resurgence began in 2019 with a year-on-year growth of 132.41%, followed by variability up to 2022. Over the last two years leading to 2023, the trend showed a modest increase, with a 5.04% decline in 2022 transitioning to a 4.94% rise in 2023. The 5-year CAGR, from 2019 to 2023, was robust at 17.21%, indicating significant growth momentum.
Looking forward, from 2024 to 2028, the forecast growth rate is at a moderate 0.89% CAGR. This suggests a stabilization trend with a 4.52% growth over the next five years.
Future trends to watch for include potential market responses to changes in global trade policies, shifts in consumption patterns toward plant-based alternatives, and Sweden's domestic production capabilities.
