Report Update: Nov 1, 2024

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

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Virgin olive oil market

Virgin olive oil market: find newly released data empowered by an Ai-driven business intelligence platform. Data provide imports, market prices, market size, companies, production, exports, trade, and consumption. There is a breakdown by country, including Latin America, China, Africa, EU, the Middle East, the U.K., Russia, and the U.S. Market dynamics and outlook to 2030 are also featured in the snapshots.

Virgin Olive Oil - World's Largest Markets

Rating	Country
1	Italy
2	Spain
3	United States
4	Morocco
5	Turkey

In value terms, the largest virgin olive oil markets worldwide were Italy, Spain and the United States, with a combined 43% share of the global market. These countries were followed by Morocco, Turkey, France, Portugal, Brazil, Germany, Algeria, Syrian Arab Republic, Tunisia and Greece, which together accounted for a further 32%.

Portugal recorded the highest growth rate of market size, among the main consuming countries over the period under review, while virgin olive oil market for the other global leaders experienced more modest paces of growth.

Virgin Olive Oil Prices

Lowest Prices - FOB - Top Exporters

COUNTRY	2019	2020	2021	CAGR, 2019-2021
COUNTRY	USD per ton			CAGR, 2019-2021
Syrian Arab Republic	2167	1924	2038	-3.0%
Tunisia	2877	2255	2446	-7.8%
Turkey	2908	2614	3007	1.7%
Portugal	3461	3216	3768	4.3%
Spain	3100	2955	3791	10.6%
Greece	3852	3251	4368	6.5%
Italy	5055	4487	5237	1.8%
Average	3466	3130	3832	5.1%

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Italy ($5,237 per ton), while Syrian Arab Republic ($2,038 per ton) was amongst the lowest.

From 2019 to 2021, the most notable rate of growth in terms of prices was attained by Spain, while the other global leaders experienced more modest paces of growth.

Highest Prices - CIF - Top Importers

COUNTRY	2019	2020	2021	CAGR, 2019-2021
COUNTRY	USD per ton			CAGR, 2019-2021
Japan	4795	4349	4994	2.1%
Germany	4842	4524	4958	1.2%
Brazil	4540	4017	4352	-2.1%
United Kingdom	3711	3157	4269	7.3%
United States	4138	3480	4167	0.3%
Canada	4307	3782	4164	-1.7%
France	3807	3400	4111	3.9%
China	3840	3510	3680	-2.1%
Saudi Arabia	3234	2776	3007	-3.6%
Italy	2790	2544	2902	2.0%
Portugal	2758	2422	2763	0.1%
Spain	2463	2180	2487	0.5%
Average	3510	3104	3531	0.3%

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Japan ($4,994 per ton), while Spain ($2,487 per ton) was amongst the lowest.

From 2019 to 2021, the most notable rate of growth in terms of prices was attained by the UK, while the other global leaders experienced more modest paces of growth.

Virgin Olive Oil - Top Importers

COUNTRY	2019	2020	2021	CAGR, 2019-2021
COUNTRY	billion USD			CAGR, 2019-2021
Italy	1.5	1.5	1.8	9.5%
United States	1	1	1.1	4.2%
France	0.4	0.5	0.5	10.8%
Spain	0.3	0.5	0.5	23.5%
Portugal	0.3	0.3	0.4	23.6%

In value terms, the largest virgin olive oil importing markets worldwide were Italy ($1.8B), the United States ($1.1B) and France ($545M), together accounting for 48% of global imports. Spain, Portugal, Germany, Brazil, Japan, Canada, China, the UK and Saudi Arabia lagged somewhat behind, together accounting for a further 33%.

Portugal recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Virgin Olive Oil - Top Exporters

COUNTRY	2019	2020	2021	CAGR, 2019-2021
COUNTRY	billion USD			CAGR, 2019-2021
Spain	2.6	2.6	3.1	8.6%
Italy	1.3	1.4	1.5	9.1%
Portugal	0.6	0.6	0.7	10.6%
Greece	0.4	0.5	0.7	33.8%
Tunisia	0.4	0.8	0.6	17.7%

In value terms, Spain ($3.1B) remains the largest virgin olive oil supplier worldwide, comprising 43% of global exports. The second position in the ranking was occupied by Italy ($1.5B), with a 21% share of global exports. It was followed by Portugal, with a 9.3% share.

In Spain, virgin olive oil exports expanded at an average annual rate of +8.6% over the period from 2019-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (+9.1% per year) and Portugal (+10.6% per year).

Virgin Olive Oil - Market Forecast

Driven by increasing demand for virgin olive oil worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of for the period from 2021 to 2030, which is projected to bring the market volume to by the end of 2030.

Virgin Olive Oil - Top Companies

UNI-PRESIDENT ENTERPRISES CORP., Cargill Agrícola S/A, ADM do Brasil Ltda, Louis Dreyfus Company Brasil S/A., VICENTIN S.A.I.C., Tibet Linzhi Medog County Baimagang Grain & Oil Processing Sales Co., Ltd., Cocamar - Cooperativa Agroindustrial, Bianchini S/A. Indústria, Comércio e Agricultura, Dongguan Fuzhiyuan Feedstuff Protein Development Co., Ltd., Jiu San Group Tianjin Soya Science And Technology Co., Ltd., THAI VEGETABLE OIL PUBLIC COMPANY LIMITED, Syngenta Seeds, LLC, Solae, LLC, TTET UNION CORPORATION, Bunge Sanwei Grease Co., Ltd., ABC Indústria e Comércio S/A - ABC Inco, GUJARAT AMBUJA EXPORTS LIMITED, Zhongfang Foodgrain & Cooking Oil (Dongguan) Co., Ltd., COOPERATIVA COLONIAS UNIDAS AGROPECUARIA INDUSTRIAL LIMITADA, Gushen Biological Technology Group Co., Ltd.

Virgin Olive Oil - Product Coverage

HS 150910 - Vegetable oils; olive oil and its fractions, virgin, whether or not refined, but not chemically modified

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global virgin olive oil market. 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:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

Global market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Global production, split by region and country
Global trade (exports and imports)
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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. 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. 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. 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. 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. 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. 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. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. GLOBAL 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. GLOBAL 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. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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
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