The demand for olive oil in Argentina has shown significant variation over the past decade. From a stable demand of 6.0 Thousand Metric Tons between 2014 and 2016, there was a sharp increase to 9.0 in 2017, followed by another surge to 11.0 in 2018, which stabilized in the subsequent years with a slight dip in 2020. By 2023, the demand stood at 12.0 Thousand Metric Tons, reflecting a notable CAGR of 1.76% from 2018 to 2023.
Key Variations:
- 2017: Year-on-year increase of 50%
- 2018: Year-on-year increase of 22.22%
- 2020: Year-on-year decrease of 17%
- 2021: Year-on-year increase of 20.48%
- 2022: Year-on-year increase of 9.09%
- 2023: No year-on-year change
- CAGR from 2018-2023: 1.76%
Looking forward, forecasts predict a steady growth in demand, reaching 13.99 Thousand Metric Tons by 2028. The projected CAGR from 2024 to 2028 is 2.32%, translating to an overall growth rate of 12.13% over the five-year period.
Future Trends to Watch:
- Potential fluctuations due to economic factors
- Increasing health awareness driving olive oil consumption
- Impact of agricultural policies and climate change
