The import of Virgin Olive Oil to the UAE has shown significant variation from 2013 to 2023, standing at 12.903 million kilograms in 2023. The growth pattern has been inconsistent but generally positive, with year-on-year variations including a notable decline of 14.77% in 2020 but substantial recovery and growth of 23.57% in 2021. The compound annual growth rate (CAGR) over the last two years was 5.45%, while the last five-year CAGR stands at 2.34%.
Looking ahead, forecasts suggest a continued, albeit moderate, growth trend with the import expected to reach 14.446 million kilograms by 2028. The projected five-year CAGR is 1.78%, indicating steady but less aggressive growth compared to past years.
Future trends to watch for:
- Impact of global olive oil production fluctuations on import volumes.
- Changes in consumer preferences and demand for healthier oils.
- Economic conditions in the UAE influencing purchasing power and import policies.
- Effect of logistical challenges and import regulations on future supply chains.
