The domestic consumption of palm oil in Malaysia was at 3.98 million metric tons in 2023. The projected consumption figures rise steadily from 4.05 million metric tons in 2024 to 4.36 million metric tons in 2028. Year-on-year percentage growth shows a consistent increase, averaging around 2.4% annually over the forecasted period, with a reliable Compound Annual Growth Rate (CAGR) of 2.3% from 2024 to 2028.
Future trends to watch for include:
• Shifts in global demand and pricing affecting domestic consumption patterns
• Policy changes towards sustainable palm oil production impacting usage
• Technological advancements in palm oil processing improving efficiency
• Expanding applications of palm oil in different industrial sectors
