The demand for Groundnut Oil in the US is forecasted to increase steadily over the next few years, starting from 133.1 thousand metric tons in 2024 and reaching 136.6 thousand metric tons by 2028. This growth trend indicates a gradual increase in demand with a year-on-year variation of approximately 0.68%. In 2023, the actual demand stood at 132.3 thousand metric tons. The Compound Annual Growth Rate (CAGR) over the last five years from 2023 to 2028 is projected to be around 0.64%.
Looking forward, important trends to monitor include changes in consumer preferences towards healthier oils, potential shifts in agricultural policies impacting groundnut cultivation, and technological advances in oil extraction and refinement processes. Tracking these factors will be crucial for making accurate future demand forecasts and strategic business decisions.
