In 2023, the import of crude olive oil to Italy was reported at 566 million kilograms. Forecasts for 2024 onward indicate a consistent increase in imports, rising from 581.77 million kilograms in 2024 to 644.54 million kilograms in 2028. The year-on-year growth rates are expected to be relatively stable with increments around 2.63% on average per year. The compound annual growth rate (CAGR) from 2024 to 2028 is projected to be approximately 2.59%, indicative of a steady upward trend.
Future trends to watch for include:
- Potential fluctuations in global olive oil production due to climate conditions.
- Changes in consumer preferences towards healthier oils which may influence demand.
- Trade policy adjustments and their impact on import tariffs.
- Technological advancements in harvesting and production impacting supply dynamics.
