In 2023, the consumption of rapeseed oil and mustard oil in the US was 2.16 kilograms per capita. Forecast data from 2024 to 2028 shows a steady increase in consumption, rising from 2.17 kilograms in 2024 to 2.21 kilograms in 2028. The year-on-year growth rate is consistent at approximately 0.46% annually, with a Compound Annual Growth Rate (CAGR) of approximately 0.46% over the five-year period.
Future Trends to Watch:
- Increasing health consciousness among consumers may drive higher demand for healthier oil options.
- Possible impacts from regulatory changes and trade policies affecting import and production costs.
- Innovations in oil processing and product diversification could expand market opportunities.