Austria: Virgin Olive Oil Market 2022

Virgin Olive Oil Market Size in Austria

The Austrian virgin olive oil market skyrocketed to $X in 2021, with an increase of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a relatively flat trend pattern. Virgin olive oil consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Virgin Olive Oil Exports

Exports from Austria

In 2021, approx. X tons of virgin olive oil were exported from Austria; jumping by X% compared with the year before. Overall, total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +X% against 2012 indices. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, virgin olive oil exports soared to $X in 2021. In general, total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Switzerland (X tons), Germany (X tons) and France (X tons) were the main destinations of virgin olive oil exports from Austria, together comprising X% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for virgin olive oil exported from Austria were Switzerland ($X), Germany ($X) and France ($X), with a combined X% share of total exports.

In terms of the main countries of destination, France, with a CAGR of +X%, saw the highest rates of growth with regard to 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

The average virgin olive oil export price stood at $X per ton in 2021, picking up by X% against the previous year. Over the last nine years, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2018 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the the average export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2021, the highest price was recorded for prices to Italy ($X per ton) and Switzerland ($X per ton), while the average price for exports to France ($X per ton) and Croatia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Virgin Olive Oil Imports

Imports into Austria

In 2021, supplies from abroad of virgin olive oil increased by X% to X tons, rising for the third consecutive year after two years of decline. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, virgin olive oil imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Spain (X tons) and Greece (X tons) were the main suppliers of virgin olive oil imports to Austria, with a combined X% share of total imports. Germany lagged somewhat behind, comprising a further X 2012 to 2021, the biggest increases were in Germany (with a CAGR of +X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Italy ($X), Greece ($X) and Spain ($X) appeared to be the largest virgin olive oil suppliers to Austria, together accounting for X% of total imports. These countries were followed by Germany, which accounted for a further X terms of the main suppliers, Germany, with a CAGR of +X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average virgin olive oil import price amounted to $X per ton, rising by X% against the previous year. Over the last nine-year period, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform