In 2023, the domestic food consumption of olive oil in China stood at 43.0 thousand metric tons. The forecasted data from 2024 to 2028 shows a consistent upward trend in consumption. Specifically, consumption remains steady at 44.0 thousand metric tons in 2024 and 2025, before increasing to 45.0 thousand metric tons from 2026 to 2028. This indicates a year-on-year variation of approximately 2.3% from 2023 to 2024 and 0% from 2024 to 2025. From 2025 to 2026, there is a 2.3% increase, with the rate stabilizing at 0% from 2026 to 2028.
When analyzing the Compound Annual Growth Rate (CAGR) over the last five years, we observe a relatively modest average annual growth rate, reflecting a steady but cautious increase in consumption.
Future trends to watch for include potential changes in consumer preferences towards healthier options, the impact of urbanization and rising disposable incomes, and the influence of marketing strategies. Additionally, potential trade policies and local production capacity might also play crucial roles in shaping the demand for olive oil in China.
