Analyzing the forecast data for soybean oil domestic food consumption in Brazil, from 2023 to 2028, reveals a steady increase. In 2023, consumption stood at 4.02 million metric tons. The forecasted values for subsequent years indicate consistent growth: reaching 4.07 million metric tons in 2024, an increase of approximately 1.25% from the previous year; 4.12 in 2025, with a 1.23% year-on-year increase; 4.17 in 2026, reflecting a 1.21% increase; 4.21 in 2027, representing a 0.96% rise; and finally reaching 4.26 in 2028, a 1.19% year-on-year rise.
Over the last two years, we observed steady average growth. The Compound Annual Growth Rate (CAGR) over the five-year period from 2023 to 2028 is approximately 1.17%, indicating sustainable demand and growth in the sector.
Future trends to watch for include potential fluctuations due to economic conditions, shifts in dietary preferences, and the impact of agricultural policies and global trade dynamics on the accessibility and price of soybean oil.
