Europe: Olive Oil Market 2024

Olive Oil Market Size in Europe

In 2022, after two years of growth, there was significant decline in the Europe olive oil market, when its value decreased by X% to $X. Over the period under review, consumption continues to indicate a perceptible shrinkage. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Olive Oil Production in Europe

In value terms, olive oil production rose notably to $X in 2022 estimated in export price. In general, production faced a abrupt slump. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Olive Oil Exports

Exports in Europe

In 2022, exports of olive oil and its fractions in Europe was estimated 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 throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The volume of export peaked at X tons in 2020; afterwards, it flattened through to 2022.

In value terms, olive oil exports declined 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 most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2021, and then shrank in the following year.

Exports by Country

In 2022, Spain (X tons) represented the key exporter of olive oil and its fractions, making up X% of total exports. Italy (X tons) ranks second in terms of the total exports with a X% share, 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 Europe, with a CAGR of X% from 2012-2022. Italy experienced a relatively flat trend pattern. From 2012 to 2022, the share of Portugal increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest olive oil supplying countries in Europe were Spain ($X), Italy ($X) and Portugal ($X), together comprising X% of total exports.

Portugal, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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 Europe amounted to $X per ton, reducing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 an increase of X%. Over the period under review, the export prices reached the maximum 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 Europe

In 2022, olive oil imports in Europe was estimated at X tons, picking up by X% compared with 2021 figures. The total import 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 throughout the analyzed period. The pace of growth was the most pronounced 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 declined 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% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then dropped in the following year.

Imports by Country

Italy was the major importer of olive oil and its fractions in Europe, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. Spain (X tons) took the second position in the ranking, followed by France (X tons), Portugal (X tons) and Germany (X tons). All these countries together took near X% share of total imports. The following importers - the UK (X tons) and Belgium (X tons) - together made up X% of total imports.

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 Europe, with a CAGR of X% from 2012-2022. The UK experienced a relatively flat trend pattern. While the share of Spain (X p.p.) and Portugal (X p.p.) increased significantly in terms of the total imports 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, Italy ($X) constitutes the largest market for imported olive oil and its fractions in Europe, comprising X% of total imports. The second position in the ranking was held by Spain ($X), with a X% share of total imports. It was followed by France, with a X% share.

In Italy, olive oil imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Spain (X% per year) and France (X% per year).

Import Prices by Country

The import price in Europe stood at $X per ton in 2022, which is down 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 2021 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: 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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