The forecasted domestic industrial consumption of palm kernel oil in the US shows a steady upward trend from 2024 to 2028, increasing from 167.0 to 172.0 thousand metric tons. Assuming a stable demand till 2023, the expected growth is modest at approximately 0.6% year-on-year. This consistent growth suggests an industry moving towards incremental expansion. The compound annual growth rate (CAGR) over this period is about 0.6%, reflecting a stable, albeit slow, increase in consumption.
Future trends to watch for include any policy changes impacting the import of raw materials, shifts in consumer preferences towards alternatives, and advancements in palm oil sustainability and production efficiency, which could influence domestic demand.
