In 2023, the import of refined olive oil and fractions to the US stood at 75 million kilograms. Forecasted data indicates a declining trend with volumes decreasing from 74.551 million kilograms in 2024 to 71.7 million kilograms by 2028. Year-on-year percentage variations show a slight decrease, suggesting moderate but consistent reduction in import quantities.
The Compound Annual Growth Rate (CAGR) from 2023 to 2028 demonstrates an average annual decrease in imports. Factors influencing this trend could include shifts in consumer preferences, economic conditions, and global olive oil production levels.
Future trends to watch for:
- Changes in tariffs and trade agreements affecting import volume.
- Domestic production capabilities and investment in alternatives.
- Consumer trends towards health and sustainability impacting olive oil demand.
- Technological advancements in agriculture and international market dynamics.
