The demand for olive oil in Australia stood at 54.0 thousand metric tons in 2023. The data reveals a stable growth trend over the last decade. In 2014, demand was at 45.0 thousand metric tons and it experienced a series of fluctuations, including a notable decline of 8.89% in 2015, followed by a sharp 14.29% increase in 2017. From 2019 to 2023, growth stabilized, showing a minimal change with the highest CAGR (Compound Annual Growth Rate) being 4.87% in 2020. The most recent five-year period showed an average annual growth rate of 0.72%, leading to a 3.64% increase by 2028.

Future trends to watch for include:

Sustainability and environmental impacts of olive oil production.
Health trends influencing consumer choices towards more organic and non-GMO oil variants.
Potential disruptions from geopolitical factors impacting the global olive oil supply chain.
Technological advancements in olive oil extraction and preservation techniques.