In 2023, the import of animal and vegetable fats, oils, and cleavage products to the US was approximately valued at 9.3 billion USD. The forecast from 2024 to 2028 shows a consistent growth, with expected values reaching 10.422 billion USD by 2028. The year-on-year growth averages around 2% from 2024 through 2028. The compound annual growth rate (CAGR) over the forecasted period suggests a moderate annual increase, reflecting steady demand.
Future trends to watch for include:
- Fluctuations in global oil production impacting supply and prices.
- Shifts in dietary trends influencing demand for specific oils.
- Trade policies and tariffs potentially affecting import volumes and costs.
