In 2023, the demand for rapeseed oil and mustard oil in Austria stood at 190.0 thousand metric tons. The forecast for 2024 indicates a demand of 184.0 thousand metric tons. This forecast shows a decreasing trend with values of 178.0, 173.0, 168.0, and 163.0 thousand metric tons forecasted for 2025, 2026, 2027, and 2028, respectively. Year-on-year, the demand is expected to decrease by approximately 3.3% in 2025, 2.8% in 2026, 2.9% in 2027, and 3.0% in 2028. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) represents an average annual decrease of about 3.0%.
Future trends to watch for include:
- Shifts in consumer preferences towards other oils due to health trends or culinary innovations.
- Changes in agricultural policies or subsidies impacting the production of rapeseed and mustard.
- Economic factors such as inflation or changes in disposable income levels.
- Environmental regulations potentially affecting crop yields and production methods.
