The volume of olive oil imports in Saudi Arabia stood at 38.5 thousand metric tons in 2023. Forecasted values are as follows: 39.02 thousand metric tons in 2024, 40.02 thousand metric tons in 2025, 41.0 thousand metric tons in 2026, 41.97 thousand metric tons in 2027, and 42.91 thousand metric tons in 2028. The year-on-year growth rate is predicted to be consistent with an increase of approximately 2.56% from 2024 to 2025, 2.44% from 2025 to 2026, 2.37% from 2026 to 2027, and 2.24% from 2027 to 2028. Over the five-year period, the CAGR of the import volume is forecasted to be around 2.27%.
Future trends to watch for include potential changes in dietary habits, shifts in consumer preferences towards healthier cooking oils, variations in global olive oil supply due to climatic conditions, and trade policy adjustments that could impact import costs and volumes. Additionally, ongoing economic diversification efforts in Saudi Arabia may affect disposable incomes and subsequently consumer spending on imported goods like olive oil.
