The demand for Palm Kernel Oil in France has shown significant fluctuations from 2014 to 2023. The highest demand was seen in 2015 with a drastic increase of 200% from the previous year. However, years like 2016 and 2018 experienced significant declines of about 29.63% and 34.78% respectively. Despite these fluctuations, the period from 2019 to 2023 indicates a stabilizing trend, with an overall Compound Annual Growth Rate (CAGR) of 5.92% over the last five years. In 2023, the demand stood at 20 Thousand Metric Tons, showing a year-on-year increase of 5.26% compared to 2022. Moving forward, a more moderate CAGR of 1.92% is forecasted for the next five years, reflecting a 10% growth rate by 2028.
Future trends to watch for include potential shifts in consumer preferences toward more sustainable and ethically sourced products, which may impact demand dynamics. Additionally, regulatory changes and advancements in palm oil alternatives could significantly influence market trends in the coming years. Market participants should closely monitor these developments to adjust their strategies accordingly.
