The domestic food consumption of palm oil in Vietnam stood at 945.0 thousand metric tons in 2023. The forecasted values for the years 2024 to 2028 show a steady increase from 966.0 thousand metric tons in 2024 to 1070.0 thousand metric tons in 2028. The year-on-year growth rates are as follows:
- 2024 to 2025: 2.69%
- 2025 to 2026: 2.82%
- 2026 to 2027: 1.96%
- 2027 to 2028: 2.88%
Over the last two years, the consumption increased by approximately 4.88%, whereas the compound annual growth rate (CAGR) over the past five years is around 2.65%.
Future trends to watch for include potential shifts in dietary preferences, government policies on palm oil imports, and advancements in alternative edible oils that might impact the consumption patterns of palm oil in Vietnam. Monitoring global market influences and price volatility will also be crucial for understanding future trends in palm oil consumption.
