Based on the provided data, the forecast for the soybean oil market size volume per capita in the Philippines shows a steady increase from 2024 onward. Here is the year-on-year percentage variation:
- 2024: 0.26 kg (baseline)
- 2025: 0.27 kg (+3.85%)
- 2026: 0.28 kg (+3.70%)
- 2027: 0.28 kg (0.00%)
- 2028: 0.29 kg (+3.57%)
The compound annual growth rate (CAGR) over the last five years, from the baseline 2023 data point to the forecasted 2028 figure, indicates a gradual upward trend.
Future trends to watch for include the potential impact of changes in domestic agriculture policies, soybean production capabilities, shifts in consumer dietary preferences, and global trade policies. Additionally, monitoring technological advancements in agricultural practices and sustainability initiatives will be crucial for understanding future market dynamics.
