Based on the provided data, the demand for maize oil in the US is expected to steadily increase from 2024 to 2028. For 2024, the forecasted demand is 831.2 thousand metric tons. By 2028, this demand is predicted to reach 838.66 thousand metric tons. Compared to 2023, actual demand figures will provide a baseline to measure these increases.
Year-on-year variations show a consistent growth in demand:
- 2025: 0.23% increase from 2024
- 2026: 0.23% increase from 2025
- 2027: 0.22% increase from 2026
- 2028: 0.22% increase from 2027
The compound annual growth rate (CAGR) for the period 2024-2028 stands at approximately 0.19%, indicating a moderate but steady increase in demand over the five years.
Future trends to watch for include shifts in dietary preferences, potential policy changes regarding agricultural subsidies, and advancements in maize oil production technologies. Price fluctuations in the global vegetable oil market may also influence demand trends.
