Austria: Virgin Olive Oil Market 2024

Virgin Olive Oil Market Size in Austria

The Austrian virgin olive oil market dropped to $X in 2022, reducing by -10% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a relatively flat trend pattern. Virgin olive oil consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Virgin Olive Oil Exports

Exports from Austria

In 2022, exports of virgin olive oil from Austria dropped to X tons, waning by -6.6% against the year before. Overall, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +115.9% against 2018 indices. The pace of growth was the most pronounced in 2019 with an increase of 111%. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted in the following year.

In value terms, virgin olive oil exports shrank to $X in 2022. In general, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +103.4% against 2018 indices. The pace of growth was the most pronounced in 2019 when exports increased by 115% against the previous year. The exports peaked at $X in 2021, and then contracted in the following year.

Exports by Country

Switzerland (X tons), Germany (X tons) and France (X tons) were the main destinations of virgin olive oil exports from Austria, together comprising 88% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +114.8%), while the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X), Germany ($X) and France ($X) were the largest markets for virgin olive oil exported from Austria worldwide, with a combined 87% share of total exports.

In terms of the main countries of destination, France, with a CAGR of +115.6%, 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

The average virgin olive oil export price stood at $X per ton in 2022, declining by -2.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2013 an increase of 16%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Italy ($X per ton) and Switzerland ($X per ton), while the average price for exports to Germany ($X per ton) and Hungary ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovenia (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Virgin Olive Oil Imports

Imports into Austria

In 2022, after four years of growth, there was significant decline in purchases abroad of virgin olive oil, when their volume decreased by -6.9% to X tons. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 17%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, virgin olive oil imports fell to $X in 2022. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 26%. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

Italy (X tons), Greece (X tons) and Spain (X tons) were the main suppliers of virgin olive oil imports to Austria, with a combined 90% share of total imports. These countries were followed by Germany, which accounted for a further 8.6%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +13.7%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest virgin olive oil suppliers to Austria were Italy ($X), Greece ($X) and Spain ($X), with a combined 88% share of total imports. These countries were followed by Germany, which accounted for a further 10%.

Among the main suppliers, Germany, with a CAGR of +14.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average virgin olive oil import price amounted to $X per ton, which is down by -3.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 17% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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