The usage of palm oil for non-food purposes in Egypt has shown interesting fluctuations over the years. From 2014 to 2016, there was a substantial decrease, followed by a significant spike in 2017, suggesting volatility in the market. However, from 2018 onwards, there was a steady increase, stabilizing around an annual growth rate of about 4.66% during the last five years up to 2023, where the consumption stood at 801 Thousand Metric Tons. The forecast indicates a continued upward trend, but at a slower CAGR of 2.59% from 2024 to 2028.
Key observations:
• Notable fluctuation between 2014 and 2017, culminating in a significant jump in 2017.
• Steady annual increases in palm oil usage from 2018 to 2023, with year-on-year variations between 4.19% and 6.11%.
• Forecast predicts continued growth, albeit at a slower pace, with a 2.59% CAGR leading to a 13.61% growth rate by 2028.
Future trends to watch for include the potential impact of regulatory changes, increased focus on sustainability, and shifts in industrial demand which could affect the overall consumption of palm oil for non-food uses in the region.
