In 2023, the demand for olive oil in the Philippines stood at a certain level. Over the forecasted period from 2024 to 2028, the demand is projected to increase from 4.2 thousand metric tons to 4.7 thousand metric tons. This represents a year-on-year growth of 2.4% from 2024 to 2025, 4.7% from 2025 to 2026, 2.2% from 2026 to 2027, and 2.2% from 2027 to 2028. The compound annual growth rate (CAGR) over this five-year period is approximately 2.8%.

Future Trends to Watch For:

Increasing health awareness and the shift towards healthier eating habits among consumers driving the demand for olive oil.
Expansion of retail networks and e-commerce platforms providing easier access to olive oil products.
Potential impacts of economic factors and import policies affecting the availability and pricing of olive oil.
Promotions and marketing by brands emphasizing the health benefits of olive oil, likely to sustain the growing demand.