The forecast for groundnuts gross production in the US shows a steady increase in value from 2024 to 2028. As of 2023, the value stood at 2.2084 billion US dollars. There is a consistent year-on-year growth rate, with an expected rise of around 2.28% from 2024 to 2025, about 2.21% from 2025 to 2026, approximately 2.14% from 2026 to 2027, and near 2.08% from 2027 to 2028. The compound annual growth rate (CAGR) over this five-year period is estimated at approximately 2.18%.
Future trends to watch for include:
- The impact of climate change on groundnut production, specifically the potential for increased volatility in yield.
- Developments in agricultural technologies that may enhance productivity and efficiency.
- Changes in international trade policies and their effects on export dynamics.
- Shifts in consumer preferences towards plant-based diets, potentially increasing demand.