Asia-Pacific: Olive Oil Market 2025

Olive Oil Market Size in Asia-Pacific

The Asia-Pacific olive oil market fell to $X in 2022, waning by -7% against the previous year. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 9.7%. Over the period under review, the market reached the peak level at $X in 2021, and then declined in the following year.

Olive Oil Production in Asia-Pacific

In value terms, olive oil production fell remarkably to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2021 when the production volume increased by 57%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Olive Oil Exports

Exports in Asia-Pacific

In 2022, overseas shipments of olive oil and its fractions decreased by -0.6% to X tons, falling for the seventh year in a row after two years of growth. Over the period under review, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by 72% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, olive oil exports dropped to $X in 2022. Overall, exports recorded a pronounced contraction. The pace of growth was the most pronounced in 2014 when exports increased by 64% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Australia dominates exports structure, reaching X tons, which was approx. 69% of total exports in 2022. It was distantly followed by Singapore (X tons), generating an 8.6% share of total exports. Hong Kong SAR (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons), South Korea (X tons) and Japan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to olive oil exports from Australia stood at -8.3%. At the same time, Japan (+8.7%), South Korea (+5.4%), Singapore (+1.9%), Hong Kong SAR (+1.2%) and Taiwan (Chinese) (+1.1%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +8.7% from 2012-2022. By contrast, Malaysia (-6.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Singapore, South Korea, Hong Kong SAR, Taiwan (Chinese) and Japan increased by +5, +2.7, +2.3, +2.2 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest olive oil supplier in Asia-Pacific, comprising 68% of total exports. The second position in the ranking was held by Singapore ($X), with a 7.6% share of total exports. It was followed by Japan, with a 6.9% share.

In Australia, olive oil exports plunged by an average annual rate of -6.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Singapore (+6.8% per year) and Japan (-0.8% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, reducing by -10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2021 when the export price increased by 20% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+6.5%), while the other leaders experienced more modest paces of growth.

Olive Oil Imports

Imports in Asia-Pacific

In 2022, overseas purchases of olive oil and its fractions decreased by -8.2% to X tons, falling for the second year in a row after three years of growth. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 when imports increased by 22%. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, olive oil imports fell to $X in 2022. The total import value increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by 21%. The level of import peaked at $X in 2021, and then dropped slightly in the following year.

Imports by Country

In 2022, Japan (X tons) was the main importer of olive oil and its fractions, creating 35% of total imports. It was distantly followed by Australia (X tons), South Korea (X tons) and China (X tons), together creating a 41% share of total imports. Malaysia (X tons), Taiwan (Chinese) (X tons), Indonesia (X tons), New Zealand (X tons), Singapore (X tons), Hong Kong SAR (X tons), Thailand (X tons) and India (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to olive oil imports into Japan stood at +4.4%. At the same time, Malaysia (+22.6%), Indonesia (+17.3%), Taiwan (Chinese) (+10.8%), South Korea (+8.6%), Hong Kong SAR (+5.3%), Thailand (+4.9%), Singapore (+2.8%), New Zealand (+2.6%) and India (+1.4%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +22.6% from 2012-2022. Australia experienced a relatively flat trend pattern. By contrast, China (-8.8%) illustrated a downward trend over the same period. Japan (+7.5 p.p.), South Korea (+6.3 p.p.), Malaysia (+3 p.p.), Indonesia (+2.2 p.p.) and Taiwan (Chinese) (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Australia and China saw its share reduced by -2.4% and -22.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest olive oil importing markets in Asia-Pacific were Japan ($X), China ($X) and Australia ($X), with a combined 66% share of total imports. South Korea, Taiwan (Chinese), Indonesia, Malaysia, New Zealand, India, Singapore, Hong Kong SAR and Thailand lagged somewhat behind, together accounting for a further 30%.

Indonesia, with a CAGR of +21.3%, saw 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 leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, rising by 7.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2013 an increase of 20% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 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 ($X per ton), while Malaysia ($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