The North American sesame seed market has exhibited a significant downward trend over the past decade, starting from 37.0 thousand metric tons in 2014 and steadily decreasing to 15.0 thousand metric tons by 2023, signifying a yearly decline rate of 6.25% over the last two years. The market's compound annual growth rate (CAGR) over the past five years was -4.62%, illustrating a sustained contraction.
Significant year-on-year declines were seen in key years, such as in 2018 when the market dropped by 29.63% and in 2015 by 18.92%. Conversely, there were occasional slight upticks, like a small recovery of 5.26% in 2019. However, these were not enough to offset the general decline trend. Future forecasts indicate a continued decrease, with the market expected to shrink further to 8.0 thousand metric tons by 2028, showcasing a forecasted 5-year CAGR of -10.59% and an overall reduction of 42.86% from 2023.
Future trends to watch for include potential changes in consumer demand for sesame seeds due to shifts in dietary preferences, innovation in food applications, and possible changes in agricultural policies or trade agreements that may impact production and import/export dynamics.
