The sunflowerseed oil market size volume in Kenya has shown varied growth trends from 2014 to 2023. After starting at 7.0 thousand metric tons in 2014, it decreased to 5.0 thousand metric tons in 2015 and remained stable until 2016. A significant increase was seen in 2017 to 9.0 thousand metric tons, which stabilized until 2022. The year 2023 marked an increase to 10.0 thousand metric tons, showing an 11.11% year-on-year growth, indicating a steady upward trend.
Important trends to note:
- From 2017 to 2019, the market maintained a constant volume at 9.0 thousand metric tons.
- The period from 2020 to 2022 saw no changes in the market volume, suggesting market stabilization.
- A significant variation was noted in 2017 with an 80% growth rate from the previous year.
- The compound annual growth rate (CAGR) over the last five years was 2.13%, reflecting modest growth.
Looking ahead, the forecast indicates a steady increase in market volume, reaching 11.0 thousand metric tons by 2027. The forecasted 5-year CAGR is 1.92%, implying incremental growth. Future trends to monitor include potential impacts of agricultural policies, climate change on sunflower yields, and shifts in consumer preference towards healthier cooking oils. Innovations in sunflowerseed oil extraction technology and international trade dynamics will also influence the market trajectory.
