In 2023, the groundnut oil market size in the Philippines stood at approximately 4.07 thousand metric tons. Forecasted data indicates a steady growth trajectory over the next five years, reaching 4.92 thousand metric tons by 2028. Year-on-year variations show consistent growth, with increases of 4.01% from 2024 to 2025, 3.85% from 2025 to 2026, 3.71% from 2026 to 2027, and 3.58% from 2027 to 2028. The compound annual growth rate (CAGR) for the five-year period from 2023 to 2028 is approximately 3.92%.
Future trends to watch for include:
- Increasing health consciousness among consumers leading to higher demand for groundnut oil.
- Potential impacts of climate change on groundnut cultivation affecting supply.
- Technological advancements in oil extraction and refining methods improving product quality.
- Market dynamics influenced by policy changes and import-export regulations within the region.
