Analysis of the global palm oil domestic food consumption in 2023 shows India leading with significant consumption, followed by Indonesia and China. The United States and Nigeria are also notable consumers. Crucial trends reveal varying growth rates among countries, with the highest increases observed in Iraq and Afghanistan, while significant declines were recorded in Ukraine and Ethiopia. The compound annual growth rate over the last five years highlights a general rise in palm oil consumption, reflecting a sustained demand trend globally, albeit with regional differences.
Future trends to watch in global palm oil consumption include:
- Rising demand in emerging economies as urbanization and dietary changes increase.
- Potential policy changes affecting production, especially related to sustainability issues.
- Impact of economic factors such as inflation and trade policies on palm oil prices and accessibility.
- Technological advances in oil extraction and processing that could affect consumption patterns.
Top countries in Palm Oil Domestic Food Consumption by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 India | 9,100 | 2023 | +9.64% | +1.83% | View data |
| 2 | 2 Indonesia | 7,200 | 2023 | +4.35% | +4.53% | View data |
| 3 | 3 China | 3,800 | 2023 | +18.75% | -3.32% | View data |
| 4 | 4 Pakistan | 3,600 | 2023 | +2.86% | +2.07% | View data |
| 5 | 5 Nigeria | 1,630 | 2023 | +4.84% | +5.81% | View data |
| 6 | 6 United States | 1,620 | 2023 | +0.94% | +5.75% | View data |
| 7 | 7 Bangladesh | 1,500 | 2023 | -3.23% | +2.13% | View data |
| 8 | 8 Thailand | 1,340 | 2023 | -0.74% | +4.6% | View data |
| 9 | 9 Egypt | 1,090 | 2023 | +1.87% | -0.18% | View data |
| 10 | 10 Philippines | 1,090 | 2023 | +5.85% | +0.56% | View data |
