The import of olive oil to Denmark exhibited considerable year-to-year fluctuations between 2013 and 2023, marked by peaks and dips. From a peak in 2013 at 2.9131 Million Kilograms, values oscillated with a notable decrease in 2016 to 1.5916 Million Kilograms and a subsequent peak in 2020 at 3.4831 Million Kilograms. The volume in 2023 stood at 2.3371 Million Kilograms, reflecting a slight increase of 1.32% from the previous year. Over the past five years, the compound annual growth rate (CAGR) was -1.22%, suggesting a minor decline in overall import volume.
Looking forward, the forecast from 2024 to 2028 shows a steady but gradual increase in import volumes, averaging a 0.98% CAGR. By 2028, the volume is expected to reach 2.4849 Million Kilograms, representing a forecasted growth rate of 4.97% from 2023. This indicates a stabilized market with moderate growth projected over the next five years.
Future trends to watch for include potential impacts from global olive oil production fluctuations, evolving consumer preferences, changes in import policies, and economic factors that could influence trade dynamics. Keeping an eye on these factors will be crucial in anticipating any significant shifts in the market.
