In 2023, the domestic consumption of olive oil in Japan stood at 49.5 thousand metric tons. The forecasted data for the years 2024 to 2028 indicates a gradual increase, with consumption values expected to reach 52.0 thousand metric tons by 2028. Year-on-year variation shows a 2% increase from 2024 to 2025 and subsequently renders a stable pattern with no growth until a slight 1.96% increment in 2028.
Key variations:
- 2024: +1% from 2023
- 2025: +2% from 2024
- 2026: 0% from 2025
- 2027: 0% from 2026
- 2028: +1.96% from 2027
The compound annual growth rate (CAGR) from 2024 to 2028 is approximately 1.21%. This indicates a modest upward trend in olive oil consumption in the Japanese market over the next five years.
Future trends to watch for:
- Consumer awareness towards health and nutrition, favoring olive oil over other types of fats.
- Influence of Mediterranean and other global culinary trends in Japan.
- Market and economic factors that could impact consumer purchasing power.
