The vegetable oils market in Thailand has experienced fluctuating growth. From 2014 to 2023, it showed notable peaks and dips, with significant rises in 2015 and 2017. The volume for 2023 stood at 674 thousand metric tons, marking a 1.35% year-on-year increase. Over the past five years, the market demonstrated an average annual growth rate (CAGR) of 2.18%. The future growth from 2024 to 2028 is expected to be more moderate, with a forecasted 5-year CAGR of 0.92% and a cumulative growth of 4.69% over this period.
Future trends to watch for include technological advancements in oil extraction processes, the impact of environmental policies on production, and shifting consumer preferences towards healthier and more sustainable oil options.
