The olives market in Egypt exhibited a dynamic growth trajectory from 2014 to 2023, witnessing a consistent upward trend. In 2023, the market size reached 880.0 thousand metric tons, reflecting a year-on-year growth rate of 2.56%. This represents a Compound Annual Growth Rate (CAGR) of 2.71% over the last five years. Notably, exceptional growth occurred in 2016 and 2017 with year-on-year increases of 22.61% and 23.91%, respectively. Although a slight contraction was observed in 2018 with a -2.9% dip, the market quickly rebounded with stable growth rates around 2% to 3% annually from 2019 onwards.
Forecasting into the future, the market is predicted to expand to 981.0 thousand metric tons by 2028, with a projected 5-year CAGR of 1.72% and an overall forecasted 5-year growth rate of 8.88%. These insights indicate a more moderate but steady increase ahead, suggesting an enduring demand for olives in Egypt.
Future trends to watch for:
- Technological advancements in olive farming and processing.
- Policies and subsidies impacting agricultural productivity.
- Changing consumer preferences and potential shifts towards organic and sustainably sourced products.
- Global economic factors affecting export and import dynamics.
