The demand for sunflowerseed oil in Vietnam exhibited significant fluctuations over the past decade. The value remained relatively stable at 1.0 thousand metric tons from 2014 to 2016, followed by a substantial spike of 400% in 2017, reaching 5.0 thousand metric tons. This peak was short-lived with an 80% decline in 2018. Modest growth resumed thereafter, stabilizing at 2.0 thousand metric tons from 2021 to 2023. The compound annual growth rate (CAGR) over the last five years stood at 14.87%, indicating a robust underlying trend despite annual volatility.
Looking ahead to the forecasted period from 2024 to 2028, the demand is expected to grow gradually, with a projected CAGR of 0.93% and an overall growth rate of 4.76% by 2028. Key future trends to watch for include potential shifts in consumer preferences towards healthier oils and the impact of domestic production capabilities on import reliance. Furthermore, changes in trade policies and economic conditions could significantly influence demand dynamics.
