Report World - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Jan 22, 2023

World - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights

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Global Virgin Olive Oil Market 2023

Virgin Olive Oil Market Size

The global virgin olive oil market expanded remarkably to $X in 2021, picking up by 7.2% against the previous year. Overall, the total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +12.2% against 2019 indices. Over the period under review, the global market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Virgin Olive Oil Production

In value terms, virgin olive oil production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 21% against the previous year. Over the period under review, global production reached the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Virgin Olive Oil Exports

Exports

In 2021, shipments abroad of virgin olive oil decreased by -12.3% to X tons for the first time since 2017, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 21% against the previous year. As a result, the exports attained the peak of X tons, and then shrank in the following year.

In value terms, virgin olive oil exports rose rapidly to $X in 2021. The total export value increased at an average annual rate of +5.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 22% against the previous year. The global exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

Spain represented the main exporting country with an export of about X tons, which finished at 45% of total exports. Italy (X tons) held the second position in the ranking, followed by Portugal (X tons), Tunisia (X tons) and Greece (X tons). All these countries together held near 44% share of total exports. The following exporters - Syrian Arab Republic (X tons) and Turkey (X tons) - together made up 4.7% of total exports.

From 2012 to 2021, average annual rates of growth with regard to virgin olive oil exports from Spain stood at +3.0%. At the same time, Syrian Arab Republic (+17.8%), Portugal (+12.1%), Turkey (+11.8%), Greece (+2.8%) and Tunisia (+2.7%) displayed positive paces of growth. Moreover, Syrian Arab Republic emerged as the fastest-growing exporter exported in the world, with a CAGR of +17.8% from 2012-2021. Italy experienced a relatively flat trend pattern. While the share of Portugal (+5.4 p.p.) and Syrian Arab Republic (+1.8 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Spain (-1.6 p.p.) and Italy (-6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest virgin olive oil supplying countries worldwide were Spain ($X), Italy ($X) and Portugal ($X), together accounting for 74% of global exports. These countries were followed by Greece, Tunisia, Syrian Arab Republic and Turkey, which together accounted for a further 20%.

Syrian Arab Republic, with a CAGR of +15.8%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global 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, with an increase of 28% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. The global export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tunisia (+3.5%), while the other global leaders experienced more modest paces of growth.

Virgin Olive Oil Imports

Imports

In 2021, after three years of growth, there was significant decline in supplies from abroad of virgin olive oil, when their volume decreased by -7.7% to X tons. The total import volume increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 18% against the previous year. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, virgin olive oil imports expanded remarkably to $X in 2021. The total import value increased at an average annual rate of +5.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by 23%. Over the period under review, global imports hit record highs in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, Italy (X tons), distantly followed by the United States (X tons), Spain (X tons), France (X tons) and Portugal (X tons) represented the key importers of virgin olive oil, together committing 63% of total imports. Brazil (X tons), Germany (X tons), Japan (X tons), Canada (X tons), Saudi Arabia (X tons), China (X tons) and the UK (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Spain (with a CAGR of +15.0%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest virgin olive oil importing markets worldwide were Italy ($X), the United States ($X) and France ($X), with a combined 47% share of global imports. These countries were followed by Spain, Brazil, Portugal, Germany, Japan, Canada, China, the UK and Saudi Arabia, which together accounted for a further 33%.

Spain, with a CAGR of +17.5%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average virgin olive oil import price amounted to $X per ton, growing by 24% against the previous year. Over the last nine years, it increased at an average annual rate of +2.3%. Over the period under review, average import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+3.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2022 2012-2022 2023-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for virgin olive oil in the world?
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The countries with the highest volumes of consumption in 2021 were Italy, Spain and the United States, with a combined 40% share of global consumption.
What are the largest producers of virgin olive oil in the world?
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Spain constituted the country with the largest volume of virgin olive oil production, accounting for 35% of total volume. Moreover, virgin olive oil production in Spain exceeded the figures recorded by the second-largest producer, Tunisia, threefold. Italy ranked third in terms of total production with a 10% share.
What are the leading suppliers of virgin olive oil in the world?
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In value terms, Spain, Italy and Portugal were the countries with the highest levels of exports in 2021, together comprising 74% of global exports. Greece, Tunisia, Syrian Arab Republic and Turkey lagged somewhat behind, together comprising a further 20%.
What are the leading importers of virgin olive oil in the world?
+
In value terms, Italy, the United States and France were the countries with the highest levels of imports in 2021, together accounting for 47% of global imports. These countries were followed by Spain, Brazil, Portugal, Germany, Japan, Canada, China, the UK and Saudi Arabia, which together accounted for a further 33%.
What is the average export price for virgin olive oil in the world?
+
In 2021, the average virgin olive oil export price amounted to $4,005 per ton, growing by 28% against the previous year.
What is the average import price for virgin olive oil in the world?
+
In 2021, the average virgin olive oil import price amounted to $3,875 per ton, increasing by 24% against the previous year.

This report provides an in-depth analysis of the global virgin olive oil market. 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 2030.


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

Data coverage:
• Global market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Global production, split by region and country
• Global trade (exports and imports)
• 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
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

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. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2012–2022
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

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

United States
China
Japan
Germany
United Kingdom
France
Brazil
Italy
Russian Federation
India
Canada
Australia
Republic of Korea
Spain
Mexico
Indonesia
Netherlands
Turkey
Saudi Arabia
Switzerland
Sweden
Nigeria
Poland
Belgium
Argentina
Norway
Austria
Thailand
United Arab Emirates
Colombia
Denmark
South Africa
Malaysia
Israel
Singapore
Egypt
Philippines
Finland
Chile
Ireland
Pakistan
Greece
Portugal
Kazakhstan
Algeria
Czech Republic
Qatar
Peru
Romania
Vietnam
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption, By Country, 2018–2022
Table 5:
Production, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Physical Terms, By Country, 2012–2022
Table 7:
Imports, In Value Terms, By Country, 2012–2022
Table 8:
Import Prices, By Country Of Destination, 2012–2022
Table 9:
Exports, In Physical Terms, By Country, 2012–2022
Table 10:
Exports, In Value Terms, By Country, 2012–2022
Table 11:
Export Prices, By Country Of Origin, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Consumption, By Country, 2022
Figure 4:
Market Forecast To 2030
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Exports And Growth
Figure 11:
Export Prices And Growth
Figure 12:
Market Size And Growth
Figure 13:
Per Capita Consumption
Figure 14:
Imports And Growth
Figure 15:
Import Prices
Figure 16:
Production, In Physical Terms, 2012–2022
Figure 17:
Production, In Value Terms, 2012–2022
Figure 18:
Production, By Country, 2022
Figure 19:
Production, In Physical Terms, By Country, 2012–2022
Figure 20:
Imports, In Physical Terms, 2012–2022
Figure 21:
Imports, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, By Country, 2022
Figure 23:
Imports, In Physical Terms, By Country, 2012–2022
Figure 24:
Imports, In Value Terms, By Country, 2012–2022
Figure 25:
Import Prices, By Country, 2012–2022
Figure 26:
Exports, In Physical Terms, 2012–2022
Figure 27:
Exports, In Value Terms, 2012–2022
Figure 28:
Exports, In Physical Terms, By Country, 2022
Figure 29:
Exports, In Physical Terms, By Country, 2012–2022
Figure 30:
Exports, In Value Terms, By Country, 2012–2022
Figure 31:
Export Prices, 2012–2022
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