Europe: Refined Olive Oil Market 2024

Refined Olive Oil Market Size in Europe

In 2022, the Europe refined olive oil market increased by X% to $X, rising for the second year in a row after seven years of decline. Overall, consumption continues to indicate a pronounced shrinkage. The growth pace was the most rapid in 2021 when the market value increased by X%. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Refined Olive Oil Production in Europe

In value terms, refined olive oil production reached $X in 2022 estimated in export price. In general, production showed a noticeable slump. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Refined Olive Oil Exports

Exports in Europe

In 2022, the amount of refined olive oil exported in Europe surged to X tons, rising by X% compared with 2021 figures. 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 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, refined olive oil exports skyrocketed to $X in 2022. Total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Spain (X tons) was the major exporter of refined olive oil, mixing up X% of total exports. It was distantly followed by Italy (X tons) and Portugal (X tons), together achieving a X% share of total exports. Greece (X tons) held a little share of total exports.

Exports from Spain increased at an average annual rate of X% from 2012 to 2022. At the same time, Greece (X%) and Portugal (X%) displayed positive paces of growth. Moreover, Greece emerged as the fastest-growing exporter exported in Europe, with a CAGR of X% from 2012-2022. By contrast, Italy (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Spain increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Spain ($X) remains the largest refined olive oil supplier in Europe, comprising X% of total exports. The second position in the ranking was taken by Italy ($X), with a X% share of total exports. It was followed by Portugal, with a X% share.

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

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2013 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat 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 Spain (X%), while the other leaders experienced more modest paces of growth.

Refined Olive Oil Imports

Imports in Europe

In 2022, approx. X tons of refined olive oil were imported in Europe; picking up by X% against 2021. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, refined olive oil imports skyrocketed to $X in 2022. Total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Italy (X tons), distantly followed by Spain (X tons), the UK (X tons), Portugal (X tons), the Netherlands (X tons) and Germany (X tons) were the main importers of refined olive oil, together committing X% of total imports. France (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Spain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest refined olive oil importing markets in Europe were Italy ($X), the UK ($X) and Spain ($X), with a combined X% share of total imports.

Spain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Europe amounted to $X per ton, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform