In 2023, the domestic food consumption of olive oil in Chile stood at 7.0 thousand metric tons. Forecasts for 2024 to 2026 predict stability at 7.0 thousand metric tons, followed by a moderate increase to 8.0 thousand metric tons in 2027 and 2028.
Year-on-year variation shows no change from 2023 to 2026, maintaining a steady 7.0 thousand metric tons. However, a significant increase of approximately 14.3% is expected in 2027, with the consumption holding steady in 2028. The compound annual growth rate (CAGR) over the next five years averages at around a 2.75% increase per year.
Future trends to watch for include potential shifts in consumer preferences towards healthier oils, impact of economic factors on purchasing power, and possible influence of government policies promoting local agricultural production.
