The sunflowerseed oil processing sector in the US has experienced a gradual decline in volume since 2014, with the actual values dropping from 91.0 thousand metric tons in 2014 to 65.0 thousand metric tons in 2023. The most significant annual decreases occurred in 2015 and 2016, resulting in a cumulative negative trend over the decade. Notably, recent years such as 2023 saw a year-on-year decrease of 1.52%, with a 5-year Compound Annual Growth Rate (CAGR) of -2.56%, indicating a consistent downturn.
Over the forecasted period from 2024 to 2028, the sector is expected to continue its decline, with the volume anticipated to decrease to 58.0 thousand metric tons by 2028. The forecasted 5-year CAGR stands at -1.95% with a total reduction of 9.38% over this period.
Future trends to watch for:
- Potential market adaptations to emerging health and sustainability trends.
- Increased competition from alternative edible oils.
- Impact of technological advancements in processing efficiency.
- Shifts in consumer preferences and dietary patterns.
