The demand for vegetable oils in Austria has seen fluctuations over the past decade, with notable increases from 2014 to 2016, followed by slight declines and modest recoveries in recent years. In 2023, the demand stood at 481 thousand metric tons. The overall trend has been relatively stable with a minor year-on-year variation of 0.21% and a compound annual growth rate (CAGR) of 0.55% over the last five years.
Year-on-year variations for the past few years indicate mild fluctuations:
- 2022-2023: 0.21%
- 2021-2022: 0.42%
- 2020-2021: 0.42%
The forecasted demand indicates a slow but steady increase, reaching 489 thousand metric tons by 2028, reflecting a five-year CAGR of 0.25% and a growth rate of 1.24% over this period.
Future trends to watch for include potential influences from dietary trends, health consciousness, and environmental concerns which could affect consumer preferences and regulatory changes impacting production and supply chain dynamics.
