Since 2013, the supply of orange juice in the US has shown a downward trend. The actual volume dropped from 1.16 million metric tons in 2013 to 0.60964 million metric tons in 2023, a decrease of approximately 47.5%. Over the past two years (2022-2023), the year-on-year decline was seen at 8.84% and 6.21%, respectively. The average annual decrease (CAGR) over the last five years has been 8.22%. Forecasts from 2024 to 2028 show continued decline, with an anticipated CAGR of -6.6% over the next five years, indicating a projected decrease of 28.93% by 2028.
Future trends to watch for: * Climate changes affecting orange grove yields. * Technological advances in agricultural practices. * Shifts in consumer preferences towards alternative beverages. * Trade policies impacting import and export of orange juice. * Innovation in orange juice production and processing to possibly increase efficiency and yield.
