Switzerland: Virgin Olive Oil Market 2024

Virgin Olive Oil Market Size in Switzerland

After two years of growth, the Swiss virgin olive oil market decreased by -0.2% to $X in 2022. The market value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2021, and then shrank in the following year.

Virgin Olive Oil Exports

Exports from Switzerland

In 2022, approx. X tons of virgin olive oil were exported from Switzerland; increasing by 205% on 2021 figures. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 840% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, virgin olive oil exports skyrocketed to $X in 2022. Over the period under review, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 276%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Italy (X tons) was the main destination for virgin olive oil exports from Switzerland, with a 62% share of total exports. Moreover, virgin olive oil exports to Italy exceeded the volume sent to the second major destination, Germany (X tons), threefold. The third position in this ranking was held by Spain (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Italy totaled +28.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+13.1% per year) and Spain (+227.4% per year).

In value terms, Italy ($X) emerged as the key foreign market for virgin olive oil exports from Switzerland, comprising 53% of total exports. The second position in the ranking was taken by Germany ($X), with an 18% share of total exports. It was followed by France, with an 18% share.

From 2012 to 2022, the average annual growth rate of value to Italy amounted to +29.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+13.5% per year) and France (+23.8% per year).

Export Prices by Country

In 2022, the average virgin olive oil export price amounted to $X per ton, dropping by -8.3% against the previous year. Overall, the export price, however, showed a prominent increase. The pace of growth appeared the most rapid in 2019 when the average export price increased by 129%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Spain ($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 France (+20.2%), while the prices for the other major destinations experienced more modest paces of growth.

Virgin Olive Oil Imports

Imports into Switzerland

In 2022, virgin olive oil imports into Switzerland rose rapidly to X tons, increasing by 6.1% on the previous year's figure. The total import volume increased at an average annual rate of +2.6% over the period 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 2020 when imports increased by 27% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, virgin olive oil imports shrank to $X in 2022. The total import value increased at an average annual rate of +3.6% over the period 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 2020 with an increase of 23%. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, Italy (X tons) constituted the largest virgin olive oil supplier to Switzerland, with a 53% share of total imports. Moreover, virgin olive oil imports from Italy exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. The third position in this ranking was taken by Greece (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Italy amounted to +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+2.5% per year) and Greece (+10.1% per year).

In value terms, Italy ($X) constituted the largest supplier of virgin olive oil to Switzerland, comprising 62% of total imports. The second position in the ranking was held by Spain ($X), with a 16% share of total imports. It was followed by Greece, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy totaled +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+2.7% per year) and Greece (+10.1% per year).

Import Prices by Country

In 2022, the average virgin olive oil import price amounted to $X per ton, declining by -6.3% against the previous year. Over the period under review, the import price, however, saw mild growth. The pace of growth was the most pronounced in 2021 when the average import price increased by 13%. As a result, import price attained the peak level of $X per ton, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :