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

Global Virgin Olive Oil Market Overview 2019

Virgin Olive Oil Market Size

The global virgin olive oil market revenue amounted to $X in 2018, jumping by X% against the previous year. In general, the total market indicated a moderate growth from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the virgin olive oil consumption increased by +X% against 2013 indices. The pace of growth appeared the most rapid in 2013, when the market value increased by X% y-o-y. Over the period under review, the global virgin olive oil market attained its maximum level in 2018, and is expected to retain its growth in the near future.

Virgin Olive Oil Production

In value terms, virgin olive oil production amounted to $X in 2018 estimated in export prices. In general, the total output indicated a mild expansion from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the virgin olive oil production increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2013, when the the output figure increased by X% y-o-y. Global virgin olive oil production peaked in 2018, and is expected to retain its growth in the near future.

Virgin Olive Oil Exports

Exports 2007-2018

In 2018, the amount of olive oil (virgin) exported worldwide totaled X tonnes, standing approx. at the previous year. The total export volume increased at an average annual rate of +X% over the period from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The growth pace was the most rapid in 2008, when the exports increased by X% y-o-y. Global exports peaked at X tonnes in 2015; however, from 2016 to 2018, exports failed to regain their momentum.

In value terms, virgin olive oil exports stood at $X in 2018. Over the period under review, the total exports indicated a significant growth from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the virgin olive oil exports increased by +X% against 2009 indices. The most prominent rate of growth was recorded in 2013, with an increase of X% year-to-year. Over the period under review, global virgin olive oil exports attained their maximum at $X in 2017, leveling off in the following year.

Exports by Country

In 2018, Spain (X tonnes) represented the major exporter for olive oil (virgin), making up X% of total exports. Italy (X tonnes) ranks second in terms of the total exports with a X% share, followed by Greece (X%), Portugal (X%) and Tunisia (X%). Turkey (X tonnes) followed a long way behind the leaders.

Exports from Spain increased at an average annual rate of +X% from 2007 to 2018. At the same time, Portugal (+X%), Turkey (+X%), Greece (+X%) and Italy (+X%) displayed positive paces of growth. Moreover, Portugal emerged as the fastest growing exporter in the world, with a CAGR of +X% from 2007-2018. By contrast, Tunisia (-X%) illustrated a downward trend over the same period. Tunisia (X%) significantly strengthened its position in terms of the global exports, while Greece, Italy, Portugal and Spain saw its share reduced by -X%, -X%, -X% and -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Spain ($X), Italy ($X) and Greece ($X) constituted the countries with the highest levels of exports in 2018, together accounting for X% of global exports. Portugal, Tunisia and Turkey lagged somewhat behind, together accounting for a further X the main exporting countries, Portugal recorded the highest growth rate of exports, over the last eleven years, while 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 tonne in 2018, flattening at the previous year. Overall, the virgin olive oil export price, however, continues to indicate a relatively flat trend pattern. 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, the average export prices for olive oil (virgin) reached their peak figure at $X per tonne in 2017, and then declined slightly in the following year.

Export prices varied noticeably by the country of origin; the country with the highest export price was Italy ($X per tonne), while Turkey ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of export prices was attained by Tunisia, while the other global leaders experienced more modest paces of growth.

Virgin Olive Oil Imports

Imports 2007-2018

Global imports totaled X tonnes in 2018, remaining relatively unchanged against the previous year. The total import volume increased at an average annual rate of +X% from 2007 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014, when the imports increased by X% year-to-year. Over the period under review, global virgin olive oil imports attained their peak figure at X tonnes in 2016; however, from 2017 to 2018, imports stood at a somewhat lower figure.

In value terms, virgin olive oil imports stood at $X in 2018. Overall, the total imports indicated a noticeable increase from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the virgin olive oil imports increased by +X% against 2009 indices. The pace of growth appeared the most rapid in 2013, with an increase of X% against the previous year. Over the period under review, global virgin olive oil imports reached their maximum in 2018, and are expected to retain its growth in the immediate term.

Imports by Country

In 2018, Italy (X tonnes), distantly followed by the U.S. (X tonnes), France (X tonnes), Spain (X tonnes) and Portugal (X tonnes) were the main importers of olive oil (virgin), together constituting X% of total imports. Brazil (X tonnes), Germany (X tonnes), Japan (X tonnes), the UK (X tonnes), Canada (X tonnes) and China (X tonnes) occupied a relatively small share of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by China, while the other global leaders experienced more modest paces of growth.

In value terms, the largest virgin olive oil importing markets worldwide were Italy ($X), the U.S. ($X) and France ($X), together comprising X% of global imports. Brazil, Germany, Spain, Portugal, Japan, Canada, China and the UK lagged somewhat behind, together comprising a further X terms of the main importing countries, China experienced the highest rates of growth with regard to imports, over the last eleven year period, while the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the average virgin olive oil import price amounted to $X per tonne, remaining constant against the previous year. Over the last eleven year period, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2013, an increase of X% y-o-y. Over the period under review, the average import prices for olive oil (virgin) reached their maximum at $X per tonne in 2017, leveling off in the following year.

Import prices varied noticeably by the country of destination; the country with the highest import price was China ($X per tonne), while Spain ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of import prices was attained by China, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform