The demand for olive oil in Mexico has shown fluctuation over the past decade. Between 2014 and 2017, it remained stable at 14.0 thousand metric tons. In 2018, there was a significant 21.43% increase, reaching 17.0 thousand metric tons. The demand dropped by 5.88% in 2019, followed by an 11.81% decrease in 2020. 2021 saw a recovery with a 20.48% rise, stabilizing at 17.0 thousand metric tons by 2022 and 2023. As of 2023, the demand stood at 17.0 thousand metric tons, with no year-on-year growth observed. The Compound Annual Growth Rate (CAGR) over the last five years stands at a modest 0.91%, forecasting a future increase to 18.08 thousand metric tons by 2028.
Future trends to watch for include potential shifts in consumer preferences towards healthier cooking oils, the influence of import tariffs and regulations, and marketing strategies by major olive oil producers. Additionally, tracking changes in domestic production and advances in agricultural technology will be key to understanding the evolving demand in this market.
