The data indicates a steady increase in olive production in North America from 2024 to 2028. The production values are forecasted to rise from 138.23 thousand metric tons in 2024 to 143.85 thousand metric tons in 2028. Comparing to the actual production in 2023, which stood at 137 thousand metric tons, there is a clear upward trend.
The year-on-year growth rates are as follows:
- 2024: 0.90%
- 2025: 1.05%
- 2026: 1.01%
- 2027: 0.99%
- 2028: 0.95%
The compounded annual growth rate (CAGR) over the five-year period from 2024 to 2028 is approximately 1%.
Future trends to watch for include potential technological advancements in agriculture, climate change impacts, and market demand fluctuations, which could influence the production capacity and efficiency in olive farming in North America.
