In 2023, the demand for Palm Kernel Oil in Italy stood at 53.0 Thousand Metric Tons. Over the years, demand has shown a steady growth pattern, moving from 33.0 Thousand Metric Tons in 2014 to the current level. The year-on-year variation in 2022 and 2023 was approximately 1.96% and 1.92% respectively, indicating a relatively stable increase. Since 2018, the Compound Annual Growth Rate (CAGR) has gradually decreased from 8.23% in 2019 to 1.58% in 2023, reflecting a slowing growth rate over time.
Looking forward, forecasted data suggest a continued moderate growth with the demand reaching 58.0 Thousand Metric Tons by 2028. The five-year forecasted CAGR stands at 1.44%, showing a consistent but slow-paced increase, projecting a 7.41% overall growth over the next five years.
Future trends to watch for include potential changes in regulatory policies around palm oil usage, shifts towards more sustainable and ethical sourcing practices, and innovations in alternatives to palm kernel oil that may impact demand.
