From 2014 to 2023, the Sunflowerseed Oil market in the US has shown a general upward trend in volume, increasing from 24.0 to 43.0 thousand metric tons. The most notable year-on-year increase occurred in 2015 at 62.5%, while the market saw a slight decline of 7.69% in 2016. Over the last two years, the market has grown by approximately 2.38% each year. The Compound Annual Growth Rate (CAGR) for the past five years stands at 2.5%.
Looking ahead, the forecasted data indicates continued growth, reaching 48.0 thousand metric tons by 2028. The forecasted CAGR over the next five years is 1.76%, translating to a total growth of 9.09% during this period.
Future trends to watch for:
- Consumer preferences shifting towards healthier cooking oils.
- Impact of agricultural policies and trade regulations.
- Technological advancements in oil extraction and processing.
- Global market dynamics affecting import and export activities.
