In 2023, China’s domestic consumption of palm oil stood at 6.23 million metric tons. Forecasts for consumption from 2024 to 2028 show a continuous, albeit modest, growth trajectory.

Year-on-year variations:

2024 vs 2023: +1.4%
2025 vs 2024: +1.4%
2026 vs 2025: +1.4%
2027 vs 2026: +1.2%
2028 vs 2027: +1.4%

Compound Annual Growth Rate (CAGR) for 2024-2028: +1.36%

Future trends to watch for:

Potential shifts in consumption patterns due to changes in dietary preferences or health trends.
Impact of government policies on the import and use of palm oil.
Advancements in palm oil alternatives and their market penetration in China.