The demand for vegetable oils in Denmark, measured in thousand metric tons, has shown variation over the past decade. The actual values from 2014 to 2023 reveal notable fluctuations. In 2015 and 2016, the market experienced declines of -4.29% and -4.48%, respectively. However, a significant recovery occurred in 2017 with an increase of 11.27%. From 2020 onwards, the market has stabilized, demonstrating minor annual increases, such as the 0.4% year-on-year variation in 2023. As of 2023, the market stood at 497 thousand metric tons.
Looking ahead, the forecasted data from 2024 to 2028 indicates a continuation of this stable growth trend, with a forecasted 5-year CAGR of 0.36% and a 5-year cumulative growth rate of 1.8%. By 2028, the market is expected to reach 508 thousand metric tons.
Future trends to watch for include possible shifts due to health trends, sustainability concerns, and production advancements. These factors could influence consumer preference and affect the overall demand for vegetable oils in Denmark.
