Croatia: Virgin Olive Oil Market 2025

Virgin Olive Oil Market Size in Croatia

In 2022, the Croatian virgin olive oil market decreased by -8.3% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, recorded a strong expansion. Virgin olive oil consumption peaked at $X in 2021, and then reduced in the following year.

Virgin Olive Oil Production in Croatia

In value terms, virgin olive oil production totaled $X in 2022 estimated in export price. Overall, production recorded prominent growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by 169% against the previous year. Virgin olive oil production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Virgin Olive Oil Exports

Exports from Croatia

In 2022, after two years of growth, there was significant decline in shipments abroad of virgin olive oil, when their volume decreased by -10.4% to X tons. In general, exports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 78% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, virgin olive oil exports shrank rapidly to $X in 2022. Overall, exports, however, showed a notable increase. The growth pace was the most rapid in 2017 when exports increased by 92% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Bosnia and Herzegovina (X tons), Slovenia (X tons) and Italy (X tons) were the main destinations of virgin olive oil exports from Croatia, with a combined 77% share of total exports. Serbia, Germany, the United States and Switzerland lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Serbia (with a CAGR of +34.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for virgin olive oil exported from Croatia were Slovenia ($X), Bosnia and Herzegovina ($X) and Italy ($X), with a combined 64% share of total exports. Germany, Serbia, the United States and Switzerland lagged somewhat behind, together accounting for a further 19%.

Among the main countries of destination, Switzerland, with a CAGR of +31.7%, saw the highest rates of growth with regard to 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, shrinking by -8.3% against the previous year. Overall, the export price recorded a noticeable downturn. The growth pace was the most rapid in 2021 an increase of 23%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Bosnia and Herzegovina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.

Virgin Olive Oil Imports

Imports into Croatia

In 2022, purchases abroad of virgin olive oil decreased by -5.3% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +105.0% against 2012 indices. The pace of growth appeared the most rapid in 2014 with an increase of 41% against the previous year. Imports peaked at X tons in 2021, and then reduced in the following year.

In value terms, virgin olive oil imports reduced to $X in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +9.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +20.1% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 40%. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

Spain (X tons), Italy (X tons) and Greece (X tons) were the main suppliers of virgin olive oil imports to Croatia, with a combined 96% share of total imports. These countries were followed by Slovenia, which accounted for a further 1.7%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovenia (with a CAGR of +80.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest virgin olive oil suppliers to Croatia were Spain ($X), Italy ($X) and Greece ($X), together accounting for 95% of total imports. Slovenia lagged somewhat behind, accounting for a further 1.8%.

Slovenia, with a CAGR of +69.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average virgin olive oil import price stood at $X per ton in 2022, declining by -9.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2021 when the average import price increased by 25%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Italy ($X per ton) and Slovenia ($X per ton), while the price for Spain ($X per ton) and Greece ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+1.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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