Based on the provided data, olive oil domestic food consumption in the US is forecasted to increase from 414.0 thousand metric tons in 2024 to 447.0 thousand metric tons by 2028. This represents a clear upward trend over this forecast period.
Year-on-year, the consumption grows as follows: from 414.0 thousand metric tons in 2024 to 422.0 thousand metric tons in 2025 (1.93% increase), from 422.0 thousand metric tons in 2025 to 430.0 thousand metric tons in 2026 (1.90% increase), from 430.0 thousand metric tons in 2026 to 439.0 thousand metric tons in 2027 (2.09% increase), and from 439.0 thousand metric tons in 2027 to 447.0 thousand metric tons in 2028 (1.82% increase). The compound annual growth rate (CAGR) over this five-year period is approximately 1.93%.
Future trends to watch for include shifts in consumer preferences towards healthier diets and the impact of potential import restrictions or tariffs on olive oil. Additionally, sustainability concerns and the rise of organic products could further influence demand and market dynamics.
