In 2023, the soybean oil market size volume per capita in Vietnam stood at 0.80 kilograms per capita. According to the forecasted data, the consumption is expected to decrease slightly over the next five years. By 2024, it is forecasted to be 0.79 kg per capita, and by 2028, it is predicted to fall to 0.74 kg per capita.
An analysis of year-on-year variation indicates a steady decline:
- 2024: -1.25%
- 2025: -1.27%
- 2026: -1.29%
- 2027: -2.60%
- 2028: -1.34%
The Compound Annual Growth Rate (CAGR) over the past five years averages a decrease of approximately -1.58% per year.
Future trends to watch for include potential shifts in consumer preference towards alternative cooking oils, changing dietary habits, and the impact of health trends on soybean oil consumption. Economic factors and government policies could also influence the market dynamics in the coming years.
