Olive oil demand in Italy has seen a steady decline from 2014 to 2023, standing at 564 thousand metric tons in 2023. Specifically, the demand dropped consistently with an average yearly variation of -0.49% over the last 5 years. The year-on-year variation also reflected a consistent but slightly fluctuating decline, with some minor variations such as a 1.9% increase in 2019, an 8.83% decrease in 2018, and a 2.01% decrease in 2017. Looking ahead, the forecast predicts a continual decline in demand at a 5-year CAGR of -0.91%, resulting in an estimated demand of 532 thousand metric tons by 2028.
Future trends to watch for:
- Innovations in production and distribution methods that might influence the market.
- Shifts in consumer preferences towards healthier or alternative oils.
- Economic factors and potential policy changes affecting olive oil production and trade.
- Environmental issues impacting olive growth and harvesting.
- Global market trends that could affect local demand due to imports and exports.
