The domestic consumption of olive oil in the US is projected to grow steadily from 414.0 thousand metric tons in 2024 to 447.0 thousand metric tons by 2028. This represents an average year-on-year increase of around 2%. When comparing the last two years of the forecast (2027 to 2028), the growth rate is approximately 1.8%, indicating a consistently positive trend.

In 2023, olive oil consumption stood at approximately 406.0 thousand metric tons. The compound annual growth rate (CAGR) from 2023 to 2028 is about 2%, reflecting a stable increase over these five years.

Future trends to watch for include:

Increased consumer awareness of health benefits related to olive oil, potentially driving higher consumption.
Market shifts due to emerging diet trends like the Mediterranean diet.
Potential impact of supply chain adjustments and geopolitical factors on olive oil availability and pricing.