South Korea's soybean oil domestic consumption stood at 542.0 thousand metric tons in 2023. Forecasted figures indicate a steady but moderate increase from 549.0 thousand metric tons in 2024 to 582.0 thousand metric tons by 2028. Year-on-year percentage variations are consistently around 1.5%, with the compound annual growth rate (CAGR) over the last five years averaging approximately 1.8%. This suggests a stable yet gradual growth trend in consumption.
Future trends to watch for include potential shifts in dietary preferences toward healthier oils, which could either increase or curb the growth rate. Monitoring economic factors and import-export policies, as well as developments in domestic production capabilities, will also be crucial in predicting future consumption patterns.
