The olive oil market in Africa has shown a fluctuating pattern from 2014 to 2023. The market size volume stood at 316.0 thousand metric tons in 2023 with a year-on-year growth of 1.94%. The CAGR over the last 5 years was 0.32%, indicating modest growth. The market saw significant variations with a notable increase of 32.91% in 2018 and a decline of -3.06% in 2020, highlighting a volatile market landscape. Looking forward from 2024 to 2028, the forecasted CAGR is 1.33%, expecting a growth rate of 6.85% over five years.
Future trends to watch for include:
- Impact of climatic conditions on olive production.
- Technological advancements in olive cultivation.
- Changes in consumer preferences towards healthier oils.
- Policy and trade regulations affecting olive oil imports and exports.
