The global demand for palm oil in 2023 shows Indonesia as the largest consumer, followed by India and Malaysia. Notable year-on-year increases were observed in countries such as Kenya, Egypt, and the Philippines, while Germany and Venezuela experienced declines. Over the past five years, several countries, including Kenya and Madagascar, have marked significant compound annual growth rates, indicating a growing reliance on palm oil. Conversely, Italy, Netherlands, and several European countries saw reductions, reflecting potential shifts towards sustainable alternatives.
Future trends may include increasing demand from Asia-driven economic growth and environmental reforms in Europe affecting consumption patterns. Changes in dietary preferences and regulatory measures could also drive market dynamics.
Top countries in Palm Oil Demand by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Indonesia | 13,480 | 2023 | +3.34% | +0.58% | View data |
| 2 | 2 India | 9,350 | 2023 | +1.02% | +1.2% | View data |
| 3 | 3 Malaysia | 7,090 | 2023 | +2.1% | +1.56% | View data |
| 4 | 4 China | 5,330 | 2023 | -1% | -1.39% | View data |
| 5 | 5 Pakistan | 3,240 | 2023 | +1.7% | +1.42% | View data |
| 6 | 6 Thailand | 2,600 | 2023 | +2.08% | +1.98% | View data |
| 7 | 7 Nigeria | 2,210 | 2023 | -0.63% | -0.46% | View data |
| 8 | 8 Spain | 2,110 | 2023 | +2.58% | +2.27% | View data |
| 9 | 9 Bangladesh | 1,800 | 2023 | +1.18% | +0.34% | View data |
| 10 | 10 United States | 1,560 | 2023 | +1.83% | +1.54% | View data |
