The global demand for palm oil, as measured in thousand metric tons, exhibits significant variability across countries. Indonesia remains the dominant player with a substantial demand, followed by India and Malaysia. China and Pakistan are also key consumers. Over the past two years, the demand for palm oil has shown positive growth in several countries such as Kenya, Egypt, and Thailand, while some European nations like Germany and Italy have experienced declines. The United States and Russia have also continued their upward trend in palm oil consumption.
Future trends to watch include the potential increase in demand from emerging markets in Africa and Asia, driven by economic growth and rising population. Additionally, shifts in global trade policies and sustainability measures could impact the palm oil market dynamics.
Key future trends to watch:
- Rising demand in emerging markets, particularly in Africa and Asia.
- Impact of global trade policies and sustainability initiatives on palm oil consumption.
- Technological advancements in palm oil production and its substitutes.
Top countries in Palm Oil Demand Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Indonesia | 18.81 | 2023 | +3.34% | +0.58% | View data |
| 2 | 2 India | 13.05 | 2023 | +1.02% | +1.2% | View data |
| 3 | 3 Malaysia | 9.89 | 2023 | +2.1% | +1.56% | View data |
| 4 | 4 China | 7.44 | 2023 | -1% | -1.39% | View data |
| 5 | 5 Pakistan | 4.52 | 2023 | +1.7% | +1.42% | View data |
| 6 | 6 Thailand | 3.62 | 2023 | +2.08% | +1.98% | View data |
| 7 | 7 Nigeria | 3.08 | 2023 | -0.63% | -0.46% | View data |
| 8 | 8 Spain | 2.94 | 2023 | +2.58% | +2.27% | View data |
| 9 | 9 Bangladesh | 2.52 | 2023 | +1.18% | +0.34% | View data |
| 10 | 10 United States | 2.18 | 2023 | +1.83% | +1.54% | View data |
