The global demand for olive oil in 2024 indicates that Spain remains the largest market with a slight decline of 3.2%, followed by Italy, which also saw a significant drop of 49%. The United States, on the contrary, experienced a 25% increase in demand, showcasing its growing market. Countries like Greece and Morocco faced notable declines, while Algeria and the United Arab Emirates reported significant increases of 1.91% and 6.23%, respectively. France, Portugal, and Australia show moderate growth. However, countries including Russia, Brazil, and Colombia experienced declines, with the most substantial decreases seen in Ukraine and the Dominican Republic at 12.94%.
Looking ahead, future trends in the global olive oil demand will likely be influenced by increasing health consciousness in developed countries, leading to higher consumption in markets like the United States and Japan. Emerging markets, particularly in the Middle East and North Africa, show promising growth potential due to rising disposable incomes and changing dietary preferences. Sustainability practices and production innovations will also play a crucial role in shaping future demand dynamics.
Top countries in Olive Oil Demand by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Spain | 617 | 2023 | +0.65% | -0.032% | View data |
| 2 | 2 Italy | 564 | 2023 | -1.05% | -0.49% | View data |
| 3 | 3 United States | 323 | 2023 | +0.31% | +0.25% | View data |
| 4 | 4 Greece | 180 | 2023 | -0.55% | -0.76% | View data |
| 5 | 5 Morocco | 152 | 2023 | +0.66% | -1.14% | View data |
| 6 | 6 France | 117 | 2023 | 0% | +0.17% | View data |
| 7 | 7 Algeria | 111 | 2023 | +3.74% | +1.91% | View data |
| 8 | 8 Portugal | 89 | 2023 | 0% | +0.92% | View data |
| 9 | 9 Brazil | 75 | 2023 | 0% | -1.28% | View data |
| 10 | 10 United Kingdom of Great Britain and Northern Ireland | 68 | 2023 |
