In 2023, China's demand for vegetable oils remains the highest at 35.78 million metric tons, representing a significant portion of the global market. India and the United States follow with 24.24 and 17.89 million metric tons, respectively. Notable year-on-year growth includes Malaysia (2.13%), Kenya (3.71%), and Bangladesh (1.12%), although Germany experienced a decrease (-1.14%). The average CAGR over the last five years shows steady increases overall, driven by rising populations and dietary changes in emerging markets.
Future trends to watch include increased demand due to population growth and urbanization in developing countries, shifts towards healthier and sustainable oil options, and the impacts of climate change on crop yields. Additionally, trade policies and technological advancements in oil extraction and processing may shape the global vegetable oils market.
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 35,780 | 2023 | 0% | 0% | View data |
| 2 | 2 India | 24,240 | 2023 | +1.1% | +1.19% | View data |
| 3 | 3 United States | 17,890 | 2023 | +0.94% | +0.82% | View data |
| 4 | 4 Indonesia | 17,400 | 2023 | +3.11% | +0.58% | View data |
| 5 | 5 Brazil | 9,830 | 2023 | +0.94% | +0.72% | View data |
| 6 | 6 Malaysia | 9,660 | 2023 | +1.63% | +2.13% | View data |
| 7 | 7 Spain | 4,760 | 2023 | +1.82% | +1.96% | View data |
| 8 | 8 Russia | 4,530 | 2023 | +0.82% | +0.65% | View data |
| 9 | 9 Germany | 4,480 | 2023 | -1.37% | -1.14% | View data |
| 10 | 10 Pakistan | 4,260 | 2023 | +1.19% | +0.94% | View data |
