The forecast for soybean oil non-food uses in India shows a consistent incremental trend from 2024 to 2028. The projections indicate a stable growth pattern, increasing 30,000 metric tons year-on-year. By 2028, the estimated volume reaches 1.9 million metric tons. In 2023, the consumption stood at 1.76 million metric tons, highlighting a positive growth trajectory. The year-on-year percentage variations reflect a modest yet steady growth, reinforcing reliability of the demand in India's market.
Future trends to watch for include:
- Sustainability initiatives influencing renewable and industrial applications.
- Potential regulatory changes affecting non-food applications.
- Technological advancements in soybean oil utilization.
