The palm oil market in China was at 2.93 million metric tons in 2023, showing a slight year-on-year decline of 0.31%. The Compound Annual Growth Rate (CAGR) over the last five years stands at -0.54%, reflecting a trend of gradually decreasing volumes. Historical data indicates fluctuating trends: 2015 saw strong growth of 3.74%, followed by a significant decline of 12.09% in 2016. Minor increases occurred in 2017 and 2018, while 2019 and 2020 experienced declines again. A recovery manifested in 2021 with a 4.94% increase, although a modest decline persisted into 2022 and 2023.
Future trends indicate a continued decline in the palm oil market size, with a forecasted 5-year CAGR of -0.26% leading to a projected size of 2.88 million metric tons by 2028. Market dynamics such as sustainability concerns, regulatory changes, and alternative oil sources will be crucial to monitor going forward.
