Based on the provided data for the US olive oil market, the per capita volume in 2024 is forecasted to be 0.98 kilograms, remaining steady through 2026. In 2027 and 2028, the per capita volume is expected to slightly increase to 0.99 kilograms. The data for 2023 is necessary for comparison to determine the year-on-year variation, but given the predictions, we can infer a stable demand with minimal growth in the short term. Over the forecasted period, the Compound Annual Growth Rate (CAGR) is approximately marginal, indicating a minor increase in per capita consumption.
Future trends to watch for include potential health trends driving higher demand for olive oil as a healthier alternative to other fats, as well as potential influences from culinary trends and consumer preferences towards Mediterranean diets. Specifically, any significant marketing or educational campaigns highlighting the health benefits of olive oil could lead to increased per capita consumption.
