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EU - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

EU - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights

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Jan 6, 2022

EU Olive Oil Production to Gain 13% Through 2030 on High Export Demand

IndexBox has just published a new report: 'EU - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

High prices and growing demand in the olive oil market have spurred investments to expand and mechanize plantations that will automate the production process. This will enable increased production in the EU from a projected 2.2M tons in 2021 to 2.3M tons by 2025. Thanks to rising demand from Asia, top European exporters - Spain, Italy and Portugal - will be able to boost shipments.

Key Trends and Insights

High prices for olive oil in 2020-2021 have prompted an influx of investments to expand plantation sizes in Spain, Italy and Portugal. Olive oil production is becoming completely mechanized from planting trees to harvesting the product. This facilitates minimizing waste and achieving high quality and that improves profitability. Based on projections from the EU Agricultural Outlook 2021-31, IndexBox calculates that in 2021 EU olive oil production will total 2.2M tons, then by 2025 increase to 2.3M tons and in the following years, it will steadfastly grow to reach 2.5M tons by 2031. In Greece, land allocated for plantations will be reduced, however, the country will retain its status as one of the leading exporters.

Climate change, drought and water scarcity will be the key negative factors hindering production growth. To mitigate that, new olive tree varieties that are more resistant to extreme weather conditions will be introduced for new plantations and to replace current ones.

Consumption per capita of olive oil in EU countries, excluding Italy, Spain, Portugal and Greece, will rise about 4% annually, but remain relatively low (1.3 kg/person by 2025). At the same time, the arithmetic mean of per capita consumption in Italy, Spain, Portugal and Greece will decline from 9.3 kg/person in 2021 to 8.9 kg/person in 2025.

Demand from non-European countries is growing and thus driving a projected increase in the total EU olive oil shipments to outside the union from an estimated 860K tons in 2021 to 949K tons in 2025. The main gains in exports come from those countries without domestic production. In these cases, the main focus is on shipments of high-quality bottled and organic olive oil.

Portugal and Spain should significantly solidify their leadership positions in global exports thanks to heightened demand in Asia-Pacific as well as potentially increased shipments to Brazil. Spain is the largest olive oil supplier with a market share of 43% of global exports. Growing competition from producers in the southern hemisphere is forecast to not significantly influence the EU's position on the international market.

Virgin Olive Oil Exports in the EU

In 2020, the amount of virgin olive oil exported in the EU expanded to 1.5M tons, growing by 11% against 2019 figures. In value terms, supplies reached $5.2B (IndexBox estimates).

Spain represented the major exporting country with an export of about 852K tons, which accounted for 56% of total exports. It was distantly followed by Italy (311K tons), Portugal (177K tons) and Greece (165K tons), together creating a 43% share of total supplies.

In value terms, Spain ($2.5B), Italy ($1.4B) and Portugal ($569M) appeared to be the countries with the highest levels of exports in 2020, together comprising 87% of total exports. Greece lagged somewhat behind, accounting for a further 10%.

In 2020, the virgin olive oil export price in the EU amounted to $3,371 per ton, falling by -6.2% against the previous year. There were significant differences in the average prices amongst the major exporting countries. In 2020, the country with the highest price was Italy ($4,481 per ton), while Spain ($2,960 per ton) was amongst the lowest.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the virgin olive oil market in the EU. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 261 - Oil of Olives, Virgin

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in the EU, split by region and country
  • Trade (exports and imports) in the EU
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Austria
    • Belgium
    • Bulgaria
    • Croatia
    • Cyprus
    • Czech Republic
    • Denmark
    • Estonia
    • Finland
    • France
    • Germany
    • Greece
    • Hungary
    • Ireland
    • Italy
    • Latvia
    • Lithuania
    • Luxembourg
    • Malta
    • Netherlands
    • Poland
    • Portugal
    • Romania
    • Slovakia
    • Slovenia
    • Spain
    • Sweden

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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