Report Update Jan 1, 2025

Saudi Arabia - Refined Olive Oil - Market Analysis, Forecast, Size, Trends and Insights

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Saudi Arabia: Refined Olive Oil Market 2025

Refined Olive Oil Market Size in Saudi Arabia

The Saudi refined olive oil market reduced to $X in 2022, with a decrease of -11.7% against the previous year. Overall, consumption, however, showed a measured increase. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Refined Olive Oil Production in Saudi Arabia

In value terms, refined olive oil production contracted to $X in 2022 estimated in export price. In general, production, however, saw a tangible expansion. The most prominent rate of growth was recorded in 2017 with an increase of 220%. Refined olive oil production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Refined Olive Oil Exports

Exports from Saudi Arabia

In 2022, overseas shipments of refined olive oil were finally on the rise to reach X tons after three years of decline. Overall, exports, however, continue to indicate a perceptible reduction. The pace of growth was the most pronounced in 2013 when exports increased by 548%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, refined olive oil exports rose markedly to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by 682%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for refined olive oil exports from Saudi Arabia, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates stood at -10.2%.

In value terms, the United Arab Emirates ($X) also remains the key foreign market for refined olive oil exports from Saudi Arabia.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates stood at +3.6%.

Export Prices by Country

In 2022, the average refined olive oil export price amounted to $X per ton, shrinking by -4.9% against the previous year. In general, the export price, however, continues to indicate notable growth. The pace of growth was the most pronounced in 2017 an increase of 75% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +15.3% per year.

Refined Olive Oil Imports

Imports into Saudi Arabia

After five years of decline, purchases abroad of refined olive oil increased by 10% to X tons in 2022. Overall, imports, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2014 with an increase of 49% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, refined olive oil imports stood at $X in 2022. Over the period under review, imports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2014 with an increase of 34% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Spain (X tons) constituted the largest refined olive oil supplier to Saudi Arabia, with a 51% share of total imports. Moreover, refined olive oil imports from Spain exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. The third position in this ranking was held by Tunisia (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Spain totaled -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-5.9% per year) and Tunisia (-1.7% per year).

In value terms, Spain ($X) constituted the largest supplier of refined olive oil to Saudi Arabia, comprising 52% of total imports. The second position in the ranking was held by Turkey ($X), with a 17% share of total imports. It was followed by Tunisia, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Spain stood at -4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-4.2% per year) and Tunisia (-0.7% per year).

Import Prices by Country

The average refined olive oil import price stood at $X per ton in 2022, reducing by -6% against the previous year. Overall, the import price showed a noticeable downturn. The most prominent rate of growth was recorded in 2017 an increase of 24% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Tunisia ($X per ton) and Spain ($X per ton), while the price for Turkey ($X per ton) and Syrian Arab Republic ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined olive oil in the world?

China constituted the country with the largest volume of refined olive oil consumption, comprising approx. 16% of total volume. Moreover, refined olive oil consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. India ranked third in terms of total consumption with a 6.1% share.

What are the largest producers of refined olive oil in the world?

The countries with the highest volumes of in 2021 were China, Spain and India, with a combined 32% share of global production. The United States, Japan, Italy, Russia, Pakistan, Nigeria, Germany, Indonesia, Brazil and Bangladesh lagged somewhat behind, together accounting for a further 28%.

What are the leading suppliers of refined olive oil to Saudi Arabia?

In value terms, Spain, Italy and Turkey were the largest refined olive oil suppliers to Saudi Arabia, together accounting for 76% of total imports. Tunisia, Lebanon and Syrian Arab Republic lagged somewhat behind, together accounting for a further 22%.

What are the leading importers of refined olive oil from Saudi Arabia?

In value terms, Kuwait remains the key foreign market for refined olive oil exports from Saudi Arabia, comprising 67% of total exports. The second position in the ranking was occupied by the United Arab Emirates, with an 11% share of total exports. It was followed by Jordan, with an 8.5% share.

What is the average export price for refined olive oil in Saudi Arabia?

The average refined olive oil export price stood at $3,811 per ton in 2021, rising by 4.7% against the previous year.

What is the average import price for refined olive oil in Saudi Arabia?

In 2021, the average refined olive oil import price amounted to $3,118 per ton, growing by 11% against the previous year.

This report provides an in-depth analysis of the refined olive oil market in Saudi Arabia. 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:

Prodcom 10415310 - Refined olive oil and its fractions (excluding chemically modified)

Country coverage:

Saudi Arabia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Saudi Arabia
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
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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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
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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. 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. 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. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
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. 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. 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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024