In the UK, household expenditure on olive oil is forecasted to rise steadily over the next five years. Starting from 13.56 pence Sterling per capita per week in 2024, expenditures are expected to increase to 14.05 pence by 2028. Compared to 2023, this represents a consistent year-on-year growth averaging around 1%. Over the last two years, the expenditure has shown an average growth rate, reflecting a stable increase in consumption and potentially higher pricing.
Future trends to watch for include shifts in consumer preference towards healthier and premium olive oil options, potential impacts of economic fluctuations on discretionary spending, and the effect of sustainable and ethical sourcing on consumer choices. Additionally, any trade or tariff changes post-Brexit could also play a significant role in this expenditure forecast.
