The 2023 palm oil market showed diverse trends globally. Top consumers like China and Indonesia face modest growth, contrasting with India's significant 2.18% rise. African countries like Nigeria and Angola witness positive growth, while Asian nations such as Pakistan and Malaysia experience steady increases. Conversely, Venezuela, Taiwan, and Papua New Guinea see declines. Over five years, trends indicate a consistent global demand for palm oil, driven by emerging markets and increased industrial applications.
Future trends to monitor include sustainable production's impact on supply chains, shifts in consumption patterns due to health considerations, and geopolitical factors influencing major exporters and importers.
Top countries in Palm Oil Market Size Volume by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 2,930 | 2023 | -0.31% | -0.54% | View data |
| 2 | 2 India | 2,470 | 2023 | +2.11% | +2.18% | View data |
| 3 | 3 Indonesia | 1,560 | 2023 | +1.49% | +0.39% | View data |
| 4 | 4 Nigeria | 1,410 | 2023 | +0.79% | +0.19% | View data |
| 5 | 5 Pakistan | 848 | 2023 | +2.17% | +2.05% | View data |
| 6 | 6 Brazil | 615 | 2023 | +0.99% | +0.83% | View data |
| 7 | 7 Bangladesh | 587 | 2023 | +0.34% | +0.24% | View data |
| 8 | 8 Mexico | 429 | 2023 | +0.47% | +0.33% | View data |
| 9 | 9 Colombia | 388 | 2023 | +0.52% | +0.85% | View data |
| 10 | 10 Saudi Arabia | 385 | 2023 | +0.26% | +0.31% | View data |
