Global Palm Oil Domestic Industrial Consumption Share by Country (Thousand Metric Tons)

In 2023, Indonesia continues to dominate the global palm oil domestic industrial consumption at 47.34 thousand metric tons, showing an annual increase of 11.52%. Malaysia follows with 11.05 thousand metric tons, growing by 2.02%. China and Thailand exhibit steady consumption levels, with China at 9.21 thousand metric tons and a modest growth of 1.25%, and Thailand holding stable at 5.16 thousand metric tons with no change. Colombia and Brazil also report notable increases of 5.88% and 6.3%, respectively. Conversely, India shows a decline of 3.46%, and the Philippines and Japan experience reductions of 4.36% and 10.35%, respectively. Notable is Saudi Arabia's significant rise of 16.72%, while Singapore and Bangladesh show declines of 18.18% and 19.62%, respectively. Ukraine saw a complete cessation of consumption, dropping by 100%. The CAGR over the last five years offers a clearer perspective of consumption trends, averaging yearly growth rates across countries.

Future trends to watch for include potential shifts in consumption patterns due to sustainability efforts, technological advancements in palm oil alternatives, and geopolitical influences that may impact production and distribution. Additionally, policy changes in key consuming countries could significantly alter the global landscape of palm oil consumption.