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Report World - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

World - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights

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Global Virgin Olive Oil Market 2024

Virgin Olive Oil Market Size

After two years of growth, the global virgin olive oil market decreased by -3% to $X in 2022. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the global market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Virgin Olive Oil Production

In value terms, virgin olive oil production totaled $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 22%. Global production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Virgin Olive Oil Exports

Exports

Global virgin olive oil exports rose modestly to X tons in 2022, with an increase of 2.8% on the previous year. The total export volume increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when exports increased by 14%. Over the period under review, the global exports hit record highs at X tons in 2020; afterwards, it flattened through to 2022.

In value terms, virgin olive oil exports declined modestly to $X in 2022. The total export value increased at an average annual rate of +4.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 23% against the previous year. The global exports peaked at $X in 2021, and then declined in the following year.

Exports by Country

In 2022, Spain (X tons) represented the largest exporter of virgin olive oil, constituting 45% of total exports. Italy (X tons) took the second position in the ranking, followed by Tunisia (X tons), Portugal (X tons) and Greece (X tons). All these countries together held approx. 44% share of total exports. The following exporters - Syrian Arab Republic (X tons) and Turkey (X tons) - together made up 5% of total exports.

From 2012 to 2022, average annual rates of growth with regard to virgin olive oil exports from Spain stood at +3.0%. At the same time, Syrian Arab Republic (+18.3%), Portugal (+10.4%), Turkey (+9.5%), Tunisia (+3.6%) and Greece (+3.1%) displayed positive paces of growth. Moreover, Syrian Arab Republic emerged as the fastest-growing exporter exported in the world, with a CAGR of +18.3% from 2012-2022. Italy experienced a relatively flat trend pattern. Portugal (+4.7 p.p.) and Syrian Arab Republic (+2.3 p.p.) significantly strengthened its position in terms of the global exports, while Spain and Italy saw its share reduced by -2% and -6.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Spain ($X), Italy ($X) and Tunisia ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for 72% of global exports. Portugal, Greece, Syrian Arab Republic and Turkey lagged somewhat behind, together comprising a further 21%.

Syrian Arab Republic, with a CAGR of +14.9%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average virgin olive oil export price amounted to $X per ton, which is down by -7.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2021 when the average export price increased by 22%. 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.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (+5.0%), while the other global leaders experienced more modest paces of growth.

Virgin Olive Oil Imports

Imports

In 2022, approx. X tons of virgin olive oil were imported worldwide; leveling off at the previous year. The total import volume increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 19%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of global imports remained at a somewhat lower figure.

In value terms, virgin olive oil imports shrank to $X in 2022. The total import value increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 23%. Over the period under review, global imports attained the maximum at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, Italy (X tons), distantly followed by the United States (X tons), Spain (X tons), France (X tons) and Portugal (X tons) represented the main importers of virgin olive oil, together making up 66% of total imports. Germany (X tons), Japan (X tons), Canada (X tons), the UK (X tons), Saudi Arabia (X tons) and Turkey (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Turkey (with a CAGR of +164.9%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Italy ($X), the United States ($X) and Spain ($X) were the countries with the highest levels of imports in 2022, with a combined 48% share of global imports. France, Germany, Portugal, Japan, Canada, the UK, Saudi Arabia and Turkey lagged somewhat behind, together comprising a further 28%.

Turkey, with a CAGR of +145.8%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global 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, falling by -8.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2021 an increase of 25%. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 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 Germany ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of virgin olive oil consumption in 2021 were Italy, Spain and the United States, together accounting for 41% of global consumption. These countries were followed by Morocco, Turkey, Greece, France, Tunisia, Syrian Arab Republic, Algeria, Portugal, Brazil and Germany, which together accounted for a further 37%.
Spain constituted the country with the largest volume of virgin olive oil production, comprising approx. 35% of total volume. Moreover, virgin olive oil production in Spain exceeded the figures recorded by the second-largest producer, Tunisia, threefold. The third position in this ranking was occupied by Italy, with a 10% share.
In value terms, Spain remains the largest virgin olive oil supplier worldwide, comprising 42% of global exports. The second position in the ranking was occupied by Italy, with a 21% share of global exports. It was followed by Portugal, with a 9.9% share.
In value terms, Italy, the United States and France appeared to be the countries with the highest levels of imports in 2021, with a combined 48% share of global imports. Spain, Brazil, Portugal, Germany, Japan, Canada, China, the UK and Saudi Arabia lagged somewhat behind, together accounting for a further 34%.
In 2021, the average virgin olive oil export price amounted to $3,860 per ton, surging by 22% against the previous year.
The average virgin olive oil import price stood at $3,880 per ton in 2021, with an increase of 25% against the previous year.

This report provides an in-depth analysis of the global virgin olive oil market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 261 - Oil of Olives, Virgin

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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