Based on the forecasted data for soybean oil demand in Belgium from 2024 to 2028, with values expressed in thousand metric tons, the demand is set to increase modestly. From a baseline of 77.0 in 2024, the volume remains steady through 2025 before increasing to 78.0 in 2026, maintaining that level through 2028. The baseline for 2023 was also 77.0 thousand metric tons. Year-on-year variations from 2024 to 2025 and from 2027 to 2028 show 0% growth, while from 2025 to 2026 and 2026 to 2027, a 1.3% growth is observed. The Compound Annual Growth Rate (CAGR) over this five-year period is approximately 0.26%.
Future trends to watch for include the impact of policy changes related to sustainable sourcing, dietary shifts towards plant-based oils, and potential growth in industrial applications. Additionally, global market fluctuations and trade policies will likely influence the demand for soybean oil in Belgium.
