From 2014 to 2023, the soybean oil market in Chile has demonstrated modest growth and stability, with values around 37.0 to 39.0 thousand metric tons, except for a notable dip in 2020 to 32.37 thousand metric tons due to external factors. By 2023, the market stabilized back to 39.0 thousand metric tons. The most recent year-on-year variation in 2023 showed no change, maintaining a steady value compared to the previous years. Over the last five years, the market observed negligible average growth with a CAGR of 0%.
Looking ahead from 2024 to 2028, the soybean oil market is projected to grow slightly with a forecasted 5-year CAGR of 0.23%, reaching approximately 39.63 thousand metric tons by 2028. This indicates a long-term steady demand with a minimal increase.
Future trends to watch for include environmental policies impacting agricultural outputs, shifts in dietary preferences towards healthier oils, and potential supply chain disruptions. Monitoring these factors will be key in forecasting future market dynamics.
