Asia-Pacific: Olive Oil Market 2024

Olive Oil Market Size in Asia-Pacific

The Asia-Pacific olive oil market dropped slightly to $X in 2022, shrinking by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Olive Oil Production in Asia-Pacific

In value terms, olive oil production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production enjoyed a prominent expansion. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Olive Oil Exports

Exports in Asia-Pacific

In 2022, approx. X tons of olive oil and its fractions were exported in Asia-Pacific; growing by X% on 2021. In general, exports showed a pronounced expansion. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, olive oil exports contracted to $X in 2022. Overall, exports, however, continue to indicate a perceptible reduction. The growth pace was the most rapid in 2014 when exports increased by X%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Cambodia represented the main exporting country with an export of about X tons, which resulted at X% of total exports. It was distantly followed by Australia (X tons), mixing up a X% share of total exports. Singapore (X tons), Hong Kong SAR (X tons) and South Korea (X tons) took a little share of total exports.

Cambodia was also the fastest-growing in terms of the olive oil and its fractions exports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%), Singapore (X%) and Hong Kong SAR (X%) displayed positive paces of growth. By contrast, Australia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cambodia increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest olive oil supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by Cambodia ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

In Australia, olive oil exports decreased by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cambodia (X% per year) and Singapore (X% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, declining by X% against the previous year. Overall, the export price showed a deep reduction. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. 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 South Korea ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

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

Olive Oil Imports

Imports in Asia-Pacific

In 2022, purchases abroad of olive oil and its fractions decreased by X% to X tons, falling for the second consecutive year after three years of growth. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, olive oil imports dropped significantly to $X in 2022. The total import value increased at an average annual rate of X% 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 2013 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2021, and then contracted sharply in the following year.

Imports by Country

In 2022, Japan (X tons) represented the major importer of olive oil and its fractions, constituting X% of total imports. Australia (X tons) held the second position in the ranking, followed by South Korea (X tons) and Taiwan (Chinese) (X tons). All these countries together held near X% share of total imports. The following importers - New Zealand (X tons), Singapore (X tons), India (X tons) and Malaysia (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to olive oil imports into Japan stood at X%. At the same time, Malaysia (X%), Taiwan (Chinese) (X%), South Korea (X%), Singapore (X%), New Zealand (X%) and India (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. Australia experienced a relatively flat trend pattern. While the share of Japan (X p.p.), South Korea (X p.p.) and Taiwan (Chinese) (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported olive oil and its fractions in Asia-Pacific, comprising X% of total imports. The second position in the ranking was held by Australia ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

In Japan, olive oil imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Australia (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, declining by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 an increase of X%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while Australia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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