EU: Preserved Olive Market 2024

Preserved Olive Market Size in the EU

In 2021, after four years of growth, there was significant decline in the EU preserved olive market, when its value decreased by -11% to $X. The market value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then dropped in the following year.

Preserved Olive Production in the EU

In value terms, preserved olive production reduced to $X in 2021 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +51.0% against 2012 indices. The growth pace was the most rapid in 2013 when the production volume increased by 13% against the previous year. The level of production peaked at $X in 2020, and then shrank in the following year.

Preserved Olive Exports

Exports in the EU

In 2021, the amount of olives prepared or preserved exported in the European Union totaled X tons, picking up by 6.3% on the year before. The total export volume increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 16%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

In value terms, preserved olive exports expanded remarkably to $X in 2021. The total export value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Spain represented the major exporter of olives prepared or preserved in the European Union, with the volume of exports recording X tons, which was approx. 59% of total exports in 2021. It was distantly followed by Greece (X tons), making up a 28% share of total exports. Italy (X tons), Portugal (X tons) and Belgium (X tons) followed a long way behind the leaders.

Exports from Spain increased at an average annual rate of +1.9% from 2012 to 2021. At the same time, Italy (+11.8%), Belgium (+9.1%) and Greece (+8.3%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +11.8% from 2012-2021. Portugal experienced a relatively flat trend pattern. Greece (+9.1 p.p.) and Italy (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Spain saw its share reduced by -9.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest preserved olive supplying countries in the European Union were Spain ($X), Greece ($X) and Italy ($X), with a combined 88% share of total exports.

Among the main exporting countries, Italy, with a CAGR of +9.9%, recorded 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 2021, the export price in the European Union amounted to $X per ton, picking up by 3% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 6.4%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+2.3%), while the other leaders experienced a decline in the export price figures.

Preserved Olive Imports

Imports in the EU

In 2021, approx. X tons of olives prepared or preserved were imported in the European Union; rising by 2.3% against 2020 figures. The total import volume increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 14%. The volume of import peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, preserved olive imports stood at $X in 2021. The total import value increased at an average annual rate of +5.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 13%. The level of import peaked in 2021 and is likely to see steady growth in the near future.

Imports by Country

The countries with the highest levels of preserved olive imports in 2021 were France (X tons), Italy (X tons) and Germany (X tons), together finishing at 50% of total import. It was distantly followed by Romania (X tons), Belgium (X tons) and the Netherlands (X tons), together generating a 21% share of total imports. Portugal (X tons), Spain (X tons), Greece (X tons), Poland (X tons), Bulgaria (X tons), Sweden (X tons) and the Czech Republic (X tons) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Spain (with a CAGR of +17.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and Italy ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 50% of total imports. These countries were followed by Belgium, the Netherlands, Romania, Poland, Portugal, Sweden, Greece, Bulgaria, Spain and the Czech Republic, which together accounted for a further 42%.

Among the main importing countries, Portugal, with a CAGR of +13.8%, saw the highest growth rate of 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 2021, the import price in the European Union amounted to $X per ton, increasing by 3.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The pace of growth appeared the most rapid in 2018 an increase of 13%. Over the period under review, import prices reached the peak figure at $X per ton in 2014; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Belgium ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+9.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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