The production of olive oil in the US has shown considerable volatility over the past decade. Olive oil production in 2023 amounted to 20 thousand metric tons, marking no change from the previous year and a calculated compound annual growth rate (CAGR) of 4.56% since 2014. Over more recent years, the year-on-year variation noted significant fluctuations: an 81.82% increase in 2015, a -30.43% drop in 2018, and a 7.37% rise in 2021. Future forecasts indicate moderate growth, projecting a 7.7% total increase through 2028 and an annual forecasted growth rate of 1.49% over the next five years.
Future trends to watch include:
- Technological advancements in olive oil production methods
- Shifts in consumer demand for domestic versus imported olive oil
- Potential climate impacts on olive crop yields in the US
