The olive oil market in the UK witnessed shifts in its volume from 2013 to 2023. Starting from 24.741 million kg in 2013, the market showed a fluctuating trend with notable increases in 2015 and 2018. By 2023, the volume had reached 30.908 million kg, indicating steady growth.
- From 2022 to 2023, the year-on-year growth was 1.32%.
- Over the last five years, the compound annual growth rate (CAGR) was around 1.17%.
Looking forward, the forecasted data suggests a continuation of steady growth. From 2024 to 2028, the market is expected to grow at an estimated 5-year CAGR of 0.94%, with an overall increase of approximately 4.81% in volume.
Future trends to watch for include the impact of health trends on consumption, the influence of sustainable and ethical production methods, and potential fluctuations in prices due to global supply chain challenges.
