In 2023, the domestic food consumption of palm oil in the US stood at 1.62 Million Metric Tons. Based on forecasted data, consumption is expected to increase to 1.66 Million Metric Tons in 2024, indicating a year-on-year growth of 2.5%. Further year-on-year growth projections are as follows: 2.41% (2025), 2.35% (2026), 2.3% (2027), and 2.25% (2028). The compound annual growth rate (CAGR) over the next five years (2024-2028) is approximately 2.36%, reflecting steady growth in domestic food consumption of palm oil.

Future trends to watch for include:

Increased demand for plant-based and vegan products, which may boost palm oil consumption.
Potential regulatory changes regarding sustainable sourcing of palm oil.
Technological advancements in palm oil production and processing.
Shifts in consumer preferences towards healthier food ingredients.
Impact of global supply chain dynamics and geopolitical factors on palm oil imports.