Year-by-year forecast data indicates a consistent decrease in imports:
- 2024: $24.257M
- 2025: $23.519M (-3.04%)
- 2026: $22.796M (-3.07%)
- 2027: $22.087M (-3.11%)
- 2028: $21.392M (-3.15%)
The Compound Annual Growth Rate (CAGR) over the five-year forecast period is approximately -3.09%, indicating a steady average annual decline in import value.
Future Trends to Watch: Industry stakeholders should monitor technological advancements in alternative fats or oils, potential trade policy changes, and shifts in consumer preferences towards healthier and sustainable options, all of which could impact these import forecasts.
