The South American olive oil market experienced fluctuations in volume over the past decade, standing at 98.0 thousand metric tons in 2023. From 2014 to 2015, a substantial decline of 25.74% occurred, followed by periods of growth and contraction until 2023. The Compound Annual Growth Rate (CAGR) from 2014 to 2023 was -1.18%. Reviewing the past five years showed a 0% year-on-year variation from 2022 to 2023, with an average annual variation (CAGR) of -1.18% over the last five years.
Looking ahead, the market is expected to experience a steady, albeit minor, annual growth rate (CAGR) of 0.18% from 2023 to 2028. The forecast volume for 2028 is 99.2 thousand metric tons.
Future trends to watch for include:
- Shifts in consumer preferences towards healthier diets, potentially increasing olive oil demand.
- Impact of climate change on olive crop yields.
- Trade policies and international agreements influencing import and export dynamics.
- Technological advancements in agriculture enhancing yield and production efficiency.
