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Spain - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights
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Spain: Virgin Olive Oil Market Overview 2021

Virgin Olive Oil Market Size in Spain

After two years of growth, the Spanish virgin olive oil market decreased by -X% to $X in 2019. Overall, consumption, however, enjoyed a measured increase. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, the market reached the maximum level at $X in 2018, and then contracted markedly in the following year.

Virgin Olive Oil Production in Spain

In value terms, virgin olive oil production dropped notably to $X in 2019 estimated in export prices. In general, production enjoyed a mild expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% year-to-year. Over the period under review, production attained the peak level at $X in 2018, and then reduced sharply in the following year.

Virgin Olive Oil Exports

Exports from Spain

In 2019, approx. X tonnes of virgin olive oil were exported from Spain; with an increase of X% against the year before. Over the period under review, total exports indicated noticeable growth from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of X% y-o-y. As a result, exports attained the peak of X tonnes. From 2015 to 2019, the growth exports remained at a lower figure.

In value terms, virgin olive oil exports declined to $X in 2019. Overall, total exports indicated noticeable growth from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports decreased by -X% against 2017 indices. The most prominent rate of growth was recorded in 2014 when exports increased by X% year-to-year. Over the period under review, exports hit record highs at $X in 2017; however, from 2018 to 2019, exports failed to regain the momentum.

Exports by Country

Italy (X tonnes) was the main destination for virgin olive oil exports from Spain, accounting for a X% share of total exports. Moreover, virgin olive oil exports to Italy exceeded the volume sent to the second major destination, France (X tonnes), threefold. Portugal (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2019, the average annual growth rate of volume to Italy amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+X% per year) and Portugal (+X% per year).

In value terms, Italy ($X) remains the key foreign market for virgin olive oil exports from Spain, comprising X% of total exports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of total exports. It was followed by France, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value to Italy was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the U.S. (+X% per year) and France (-X% per year).

Export Prices by Country

In 2019, the average virgin olive oil export price amounted to $X per tonne, shrinking by -X% against the previous year. Over the period under review, the export price continues to indicate a mild curtailment. The pace of growth appeared the most rapid in 2013 when the average export price increased by X% y-o-y. Over the period under review, average export prices reached the maximum at $X per tonne in 2017; however, from 2018 to 2019, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Brazil ($X per tonne), while the average price for exports to Portugal ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to the UK, while the prices for the other major destinations experienced a decline.

Virgin Olive Oil Imports

Imports into Spain

In 2019, virgin olive oil imports into Spain dropped to X tonnes, declining by -X% on the previous year. Overall, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2015 with an increase of X% y-o-y. As a result, imports reached the peak of X tonnes. From 2016 to 2019, the growth imports remained at a somewhat lower figure.

In value terms, virgin olive oil imports shrank sharply to $X in 2019. In general, imports, however, showed a prominent expansion. The growth pace was the most rapid in 2015 with an increase of X% y-o-y. As a result, imports attained the peak of $X. From 2016 to 2019, the growth imports failed to regain the momentum.

Imports by Country

Portugal (X tonnes), Tunisia (X tonnes) and Morocco (X tonnes) were the main suppliers of virgin olive oil imports to Spain, together comprising X% of total imports. Argentina and Italy lagged somewhat behind, together accounting for a further X 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Argentina (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest virgin olive oil suppliers to Spain were Portugal ($X), Tunisia ($X) and Morocco ($X), together comprising X% of total imports. Argentina and Italy lagged somewhat behind, together accounting for a further X the main suppliers, Argentina (+X% per year) saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average virgin olive oil import price stood at $X per tonne in 2019, shrinking by -X% against the previous year. In general, the import price recorded a noticeable decline. The pace of growth was the most pronounced in 2013 an increase of X% year-to-year. The import price peaked at $X per tonne in 2017; however, from 2018 to 2019, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2019, the countries with the highest prices were Italy ($X per tonne) and Tunisia ($X per tonne), while the price for Morocco ($X per tonne) and Portugal ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Italy, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for virgin olive oil in the world?
+
Spain (1.1M tonnes) constituted the country with the largest volume of virgin olive oil consumption, accounting for 31% of total volume. Moreover, virgin olive oil consumption in Spain exceeded the figures recorded by the second-largest consumer, Italy (542K tonnes), twofold. The U.S. (266K tonnes) ranked third in terms of total consumption with a 7.2% share.
What are the largest producers of virgin olive oil in the world?
+
The country with the largest volume of virgin olive oil production was Spain (1.9M tonnes), accounting for 51% of total volume. Moreover, virgin olive oil production in Spain exceeded the figures recorded by the second-largest producer, Greece (329K tonnes), sixfold. Tunisia (287K tonnes) ranked third in terms of total production with a 7.8% share.
What are the leading suppliers of virgin olive oil to Spain?
+
In value terms, Portugal ($149M), Tunisia ($139M) and Morocco ($27M) appeared to be the largest virgin olive oil suppliers to Spain, together comprising 90% of total imports. Argentina and Italy lagged somewhat behind, together comprising a further 6.5%.
What are the leading importers of virgin olive oil from Spain?
+
In value terms, Italy ($901M) remains the key foreign market for virgin olive oil exports from Spain, comprising 34% of total exports. The second position in the ranking was occupied by the U.S. ($316M), with a 12% share of total exports. It was followed by France, with a 10% share.
What is the average export price for virgin olive oil in Spain?
+
In 2019, the average virgin olive oil export price amounted to $3,102 per tonne, which is down by -22.2% against the previous year.
What is the average import price for virgin olive oil in Spain?
+
The average virgin olive oil import price stood at $2,466 per tonne in 2019, falling by -31.5% against the previous year.

Product coverage:
• FCL 261 - Oil of Olives, Virgin

This report provides an in-depth analysis of the virgin olive oil market in Spain. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Country coverage:
• Spain

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Spain
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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