In 2023, the demand for groundnuts in the US was 2.18 million metric tons. The forecast for 2024 indicates a slight increase to 2.19 million metric tons. This upward trend continues with incremental year-on-year growth: 2025 (2.2 million metric tons), 2026 (2.21 million metric tons), 2027 (2.22 million metric tons), and 2028 (2.22 million metric tons). The average annual growth rate (CAGR) over the five-year period from 2023 to 2028 is modest.
Future trends to watch for include:
- Potential impacts of climate change on agricultural yields.
- Changes in consumer preferences towards plant-based and health-oriented foods.
- Technological advancements in farming and processing methods.
- Trade policy adjustments that could affect import and export dynamics.
