From 2014 to 2023, the U.S. Palm Kernel Oil Processing sector has shown an overall upward trend, growing from 11.0 to 17.0 thousand metric tons. Notable year-on-year variations included an 18.18% increase in 2015 and a 15.38% increase in 2016. A decline of 11.76% in 2018 was subsequently offset by steady growth to reach a plateau of 17.0 thousand metric tons from 2021 to 2023, reflecting zero year-on-year change for the past two years. The 5-year CAGR leading up to 2023 stands at 2.53%, indicating moderate annual growth.
Looking ahead from 2024 to 2028, the forecast predicts a slight growth, with expected figures culminating at 19.0 thousand metric tons by 2028. This corresponds to a 5-year CAGR of 2.25% and an overall growth rate of 11.76%, suggesting cautious optimism with incremental increases each year.
Future trends to watch:
- Technological advancements in processing methods that could enhance efficiency.
- Shifts in environmental regulations impacting sourcing and sustainability practices.
- Market demand changes driven by consumer preferences for sustainable and eco-friendly products.
- Global supply chain dynamics, particularly as they pertain to raw palm kernel oil imports and exports.
