In 2023, the harvested olive production in Italy stood at 2.05 million metric tons. Over the years, production has shown significant variability, with notable decreases in 2014 and 2018. The last two years have seen small negative year-on-year variations: -4.93% in 2022 and -1.32% in 2023. Despite this, the overall Compound Annual Growth Rate (CAGR) over the past five years (2018-2023) is 1.61%.
Forecasts for 2024-2028 suggest a gradual decline in production, with a forecasted 5-year CAGR of -1.47%, leading to an overall drop of 7.13% over the period. By 2028, production is expected to fall to 1.87 million metric tons.
Future trends to watch for include potential impacts of climate change, advancements in agricultural techniques, and shifts in global olive oil demand, which could influence production volumes and market dynamics.
