In 2023, the import volume of Palm Kernel Oil in the US stood at 404.00 thousand metric tons. Starting from 2024 to 2028, a steady increase in import volume is forecasted, with an annual year-on-year growth rate of approximately 1.7% to 1.8%. The Compound Annual Growth Rate (CAGR) for the period from 2023 to 2028 is calculated to be about 1.6%. This indicates consistent growth, reflecting rising demand or supply chain adjustments.
Future trends to watch include:
- The impact of sustainable practices influencing palm oil production and importation.
- Regulatory changes and consumer preferences towards eco-friendly products.
- Market volatility affecting raw material availability and price stability.