Many times we are worried about the production of olive oil to try to know how will be the evolution of the prices shortly, but what about the consumption? This is the important key in the price evolution analysis.
According to the forecast of the Olive Oil Council, the consumption of olive oil worldwide will be 3.240.000 Tonnes, which means the worldwide olive oil sector shows clear signs of recovery after those years of high prices.
The United States, China, and Japan are expected to be the three countries with the largest increases in consumption.
On the other hand, if we compare this forecast with the global consumption just 25 years ago, it got to 2.606 million tons in 2001/02, which means the global consumption was increasing almost 24,32% during the last two decades.
Changes in consumer lifestyles could be below these figures. People are more and more health aware and look for better quality products and Olive Oil is a clear example of a substitute for cooking needs.
Ready to join this trend? Some new business opportunities are waiting for you!
