The groundnut oil market in the US has shown considerable fluctuations over the past years. In 2023, the market size stood at 66.0 Thousand Metric Tons. From 2015 to 2016, a significant surge was observed, but this was followed by a decline in 2017 and 2018. The market has since exhibited a relatively stable trend, with minor percentage changes each year. The Compound Annual Growth Rate (CAGR) over the last five years was 1.26%, indicating a modest average annual increase.
Future trends to watch for include:
• The forecasted growth rate over the next five years is relatively modest, with a CAGR of 0.51%, suggesting steady but slow growth in the market.
• Monitoring the impact of dietary shifts and health trends on groundnut oil consumption will be essential in detecting demand changes.
• Economic conditions and import-export policies could also play significant roles in shaping market dynamics.
