Asia: Virgin Olive Oil Market 2025

Virgin Olive Oil Market Size in Asia

The Asian virgin olive oil market dropped slightly to $X in 2022, waning by -2.3% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Virgin Olive Oil Production in Asia

In value terms, virgin olive oil production dropped modestly to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible slump. The pace of growth was the most pronounced in 2017 with an increase of 42% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Virgin Olive Oil Exports

Exports in Asia

In 2022, virgin olive oil exports in Asia expanded slightly to X tons, picking up by 2.7% compared with the year before. In general, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 95% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, virgin olive oil exports shrank to $X in 2022. Overall, exports saw prominent growth. The pace of growth was the most pronounced in 2013 with an increase of 82%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Syrian Arab Republic was the major exporter of virgin olive oil in Asia, with the volume of exports accounting for X tons, which was near 51% of total exports in 2022. Turkey (X tons) held a 30% share (based on physical terms) of total exports, which put it in second place, followed by Palestine (7.8%). The following exporters - Jordan (X tons), Lebanon (X tons) and the United Arab Emirates (X tons) - together made up 9.3% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by the United Arab Emirates (with a CAGR of +22.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest virgin olive oil supplying countries in Asia were Syrian Arab Republic ($X), Turkey ($X) and Palestine ($X), together comprising 88% of total exports. Lebanon, Jordan and the United Arab Emirates lagged somewhat behind, together accounting for a further 9.9%.

Among the main exporting countries, the United Arab Emirates, with a CAGR of +25.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, dropping by -9.8% against the previous year. Overall, the export price saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2021 an increase of 22%. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Palestine ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.5%), while the other leaders experienced mixed trends in the export price figures.

Virgin Olive Oil Imports

Imports in Asia

In 2022, purchases abroad of virgin olive oil decreased by -2.2% to X tons, falling for the second consecutive year after three years of growth. Total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -11.8% against 2020 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 31%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, virgin olive oil imports dropped slightly to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.0% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 26%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of virgin olive oil, namely Japan, Saudi Arabia and Turkey, represented more than half of total import. South Korea (X tons) ranks next in terms of the total imports with an 8.7% share, followed by China (7.1%) and the United Arab Emirates (5.3%). Israel (X tons), Taiwan (Chinese) (X tons), Indonesia (X tons) and Iran (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +164.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Saudi Arabia ($X) were the countries with the highest levels of imports in 2022, with a combined 52% share of total imports. South Korea, Turkey, the United Arab Emirates, Israel, Taiwan (Chinese), Indonesia and Iran lagged somewhat behind, together comprising a further 33%.

Turkey, with a CAGR of +145.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, flattening at the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 18%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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