In 2023, the US import of olive oil and fraction blends stood at an estimated value that can now be compared with forecasted figures. From 2024 to 2028, projections show a slight annual decline in imports at rates decreasing year-over-year, with the compound annual growth rate hinting at a minor annual downward trend. Specifically, imports are forecasted to shrink gradually from 11.618 million kilograms in 2024 to 11.288 million kilograms by 2028.
Future trends to watch for include:
- Changes in global olive oil production, impacting supply.
- Consumer preferences shifting towards healthier oils or alternatives.
- Potential trade policy changes affecting import tariffs or quotas.
