Eastern Asia: Refined Olive Oil Market 2025

Refined Olive Oil Market Size in Eastern Asia

The East Asian refined olive oil market was estimated at $X in 2022, growing by 2.7% against the previous year. In general, consumption continues to indicate a pronounced shrinkage. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Refined Olive Oil Production in Eastern Asia

In value terms, refined olive oil production stood at $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2014 with an increase of 24%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Refined Olive Oil Exports

Exports in Eastern Asia

In 2022, after two years of decline, there was significant growth in overseas shipments of refined olive oil, when their volume increased by 62% to X tons. Over the period under review, exports, however, faced a abrupt descent. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, refined olive oil exports skyrocketed to $X in 2022. Overall, exports, however, showed a deep reduction. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X tons) and South Korea (X tons) represented roughly 74% of total exports in 2022. Japan (X tons) ranks next in terms of the total exports with a 13% share, followed by Taiwan (Chinese) (13%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Japan (with a CAGR of +12.7%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest refined olive oil supplying countries in Eastern Asia were Hong Kong SAR ($X), Japan ($X) and South Korea ($X), with a combined 93% share of total exports.

Among the main exporting countries, Japan, with a CAGR of +9.9%, 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 mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, surging by 3.1% against the previous year. Export price indicated a buoyant expansion from 2012 to 2022: its price 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, refined olive oil export price increased by +6.2% against 2018 indices. The pace of growth appeared the most rapid in 2018 an increase of 31%. The level of export peaked in 2022 and is expected to retain growth in the near future.

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 ($X per ton), while Taiwan (Chinese) ($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 (+3.2%), while the other leaders experienced mixed trends in the export price figures.

Refined Olive Oil Imports

Imports in Eastern Asia

Refined olive oil imports was estimated at X tons in 2022, with an increase of 8.7% compared with the previous year. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when imports increased by 22%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, refined olive oil imports skyrocketed to $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.4% 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 +38.6% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 29%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

In 2022, Japan (X tons) and China (X tons) were the key importers of refined olive oil in Eastern Asia, together constituting 70% of total imports. Taiwan (Chinese) (X tons) held the next position in the ranking, distantly followed by South Korea (X tons) and Hong Kong SAR (X tons). All these countries together held approx. 29% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +20.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refined olive oil importing markets in Eastern Asia were Japan ($X), China ($X) and Taiwan (Chinese) ($X), together accounting for 83% of total imports.

Among the main importing countries, China, with a CAGR of +23.1%, 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 import price in Eastern Asia amounted to $X per ton, with an increase of 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2013 an increase of 25% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in South Korea ($X per ton) and Japan ($X per ton), while China ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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