EU: Olive Oil Market 2024

Olive Oil Market Size in the EU

After two years of growth, the EU olive oil market decreased by X% to $X in 2022. Overall, consumption recorded a perceptible descent. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Olive Oil Production in the EU

In value terms, olive oil production reached $X in 2022 estimated in export price. Over the period under review, production showed a abrupt slump. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Olive Oil Exports

Exports in the EU

In 2022, the amount of olive oil and its fractions exported in the European Union stood at X tons, increasing by X% compared with the previous year's figure. The total export volume 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 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020; afterwards, it flattened through to 2022.

In value terms, olive oil exports dropped to $X in 2022. The total export value increased at an average annual rate of X% 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 2013 with an increase of X%. The level of export peaked at $X in 2021, and then fell in the following year.

Exports by Country

Spain was the largest exporting country with an export of around X tons, which amounted to X% of total exports. Italy (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Portugal (X%) and Greece (X%).

From 2012 to 2022, average annual rates of growth with regard to olive oil exports from Spain stood at X%. At the same time, Portugal (X%) and Greece (X%) displayed positive paces of growth. Moreover, Portugal emerged as the fastest-growing exporter exported in the European Union, with a CAGR of X% from 2012-2022. Italy experienced a relatively flat trend pattern. While the share of Portugal (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Italy (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Spain ($X), Italy ($X) and Portugal ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

In terms of the main exporting countries, Portugal, with a CAGR of X%, recorded 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

In 2022, the export price in the European Union amounted to $X per ton, shrinking by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Italy ($X per ton) and Greece ($X per ton), while Spain ($X per ton) and Portugal ($X per ton) were amongst the lowest.

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

Olive Oil Imports

Imports in the EU

In 2022, imports of olive oil and its fractions in the European Union was estimated at X tons, picking up by X% compared with the previous year. The total import volume increased at an average annual rate of X% 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 2020 when imports increased by X%. As a result, imports reached the peak of X tons; afterwards, it flattened through to 2022.

In value terms, olive oil imports reduced 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 growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Italy (X tons) represented the major importer of olive oil and its fractions, generating X% of total imports. Spain (X tons) held the second position in the ranking, followed by France (X tons), Portugal (X tons) and Germany (X tons). All these countries together held near X% share of total imports. Belgium (X tons) followed a long way behind the leaders.

Italy experienced a relatively flat trend pattern with regard to volume of imports of olive oil and its fractions. At the same time, Spain (X%), Portugal (X%), Belgium (X%), Germany (X%) and France (X%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing importer imported in the European Union, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Spain and Portugal increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($X) constitutes the largest market for imported olive oil and its fractions in the European Union, comprising X% of total imports. The second position in the ranking was taken by Spain ($X), with a X% share of total imports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Italy stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Spain (X% per year) and France (X% per year).

Import Prices by Country

The import price in the European Union stood at $X per ton in 2022, waning by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the import price increased by 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 Germany ($X per ton), while Spain ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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