In 2023, the domestic consumption of palm oil in the US stood at 1.89 million metric tons. From the forecasted data, we notice a consistent upward trend in palm oil consumption. In 2024, the consumption is expected to increase to 1.96 million metric tons, rising by approximately 3.7% from the previous year. In 2025, it is projected to reach 2.03 million metric tons, indicating a 3.6% year-on-year increase. By 2026, consumption is forecasted to be 2.09 million metric tons, marking a 3.0% year-on-year growth.
Continuing this trend, 2027 is expected to see a 3.3% increase, bringing the consumption to 2.16 million metric tons. In 2028, the consumption is forecasted to reach 2.22 million metric tons, another 2.8% increase from the previous year. Over the five-year forecast period from 2024 to 2028, the compound annual growth rate (CAGR) averages around 3.28% per year.
Future trends to watch for include the evolving regulatory landscape regarding health and environmental impacts of palm oil, potential innovations in alternative oils, and changes in consumer preferences towards sustainable and eco-friendly products. Monitoring these factors will be critical for anticipating shifts in consumption patterns.
