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

Global Virgin Olive Oil Market Overview 2020

Virgin Olive Oil Market Size

The global virgin olive oil market revenue amounted to $X in 2018, growing by X% against the previous year. In general, the total market indicated a buoyant expansion 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, virgin olive oil consumption increased by +X% against 2013 indices. The pace of growth was the most pronounced 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 likely to see steady growth in the immediate term.

Virgin Olive Oil Production

In value terms, virgin olive oil production stood at $X in 2018 estimated in export prices. In general, the total output indicated a resilient expansion 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, virgin olive oil production increased by +X% against 2013 indices. The pace of growth was the most pronounced in 2013 with an increase of X% y-o-y. The global virgin olive oil production peaked in 2018 and is expected to retain its growth in the near future.

Production By Country

Spain (X tonnes) constituted the country with the largest volume of virgin olive oil production, accounting for X% of total volume. Moreover, virgin olive oil production in Spain exceeded the figures recorded by the second-largest producer, Tunisia (X tonnes), eightfold. Italy (X tonnes) ranked third in terms of total production with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of volume in Spain amounted to +X%. The remaining producing countries recorded the following average annual rates of production growth: Tunisia (+X% per year) and Italy (-X% per year).

Virgin Olive Oil Exports

Exports 2007-2018

In 2018, the amount of olive oil (virgin) exported worldwide stood at X tonnes, going up by X% against 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 in certain years. The pace of growth appeared the most rapid in 2018 with an increase of X% year-to-year. In that year, global virgin olive oil exports attained their peak and are likely to continue its growth in the immediate term.

In value terms, virgin olive oil exports totaled $X in 2018. In general, the total exports indicated a strong expansion 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, virgin olive oil exports increased by +X% against 2009 indices. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. In that year, global virgin olive oil exports attained their peak and are likely to continue its growth in the immediate term.

Exports by Country

Spain represented the key exporter of olive oil (virgin) exported in the world, with the volume of exports reaching X tonnes, which was near X% of total exports in 2018. Italy (X tonnes) took the second position in the ranking, followed by Tunisia (X tonnes), Portugal (X tonnes) and Greece (X tonnes). All these countries together took near X% share of total exports. Argentina (X tonnes) and Syrian Arab Republic (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%), Argentina (+X%), Greece (+X%), Syrian Arab Republic (+X%), Italy (+X%) and Tunisia (+X%) displayed positive paces of growth. Moreover, Portugal emerged as the fastest-growing exporter exported in the world, with a CAGR of +X% from 2007-2018. Spain (+X p.p.), Portugal (+X p.p.), Greece (+X p.p.), Italy (+X p.p.) and Tunisia (+X p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Spain ($X) remains the largest virgin olive oil supplier worldwide, comprising X% of global exports. The second position in the ranking was occupied by Italy ($X), with a X% share of global exports. It was followed by Tunisia, with a X% share.

In Spain, virgin olive oil exports expanded at an average annual rate of +X% over the period from 2007-2018. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (+X% per year) and Tunisia (+X% per year).

Export Prices by Country

The average virgin olive oil export price stood at $X per tonne in 2018, rising by X% against the previous year. Over the last eleven years, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, the average export prices for olive oil (virgin) attained their maximum in 2018 and is likely to continue its growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Italy ($X per tonne), while Syrian Arab Republic ($X per tonne) was amongst the lowest.

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

Virgin Olive Oil Imports

Imports 2007-2018

In 2018, approx. X tonnes of olive oil (virgin) were imported worldwide; growing by X% against the previous year. The total import 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 in certain years. The pace of growth appeared the most rapid in 2010 when imports increased by X% against the previous year. Over the period under review, global virgin olive oil imports attained their peak figure in 2018 and are likely to see steady growth in the near future.

In value terms, virgin olive oil imports amounted to $X in 2018. In general, the total imports indicated a significant 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, virgin olive oil imports increased by +X% against 2009 indices. The growth pace was the most rapid in 2013 with an increase of X% year-to-year. Over the period under review, global virgin olive oil imports reached their peak figure in 2018 and are expected to retain its growth in the near future.

Imports by Country

In 2018, Italy (X tonnes), distantly followed by the U.S. (X tonnes), Spain (X tonnes), France (X tonnes) and Portugal (X tonnes) were the main importers of olive oil (virgin), together generating X% of total imports. The following importers - Brazil (X tonnes), Germany (X tonnes), Japan (X tonnes), China (X tonnes), the UK (X tonnes) and Canada (X tonnes) - together made up X% 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 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 ($X), the U.S. ($X) and Spain ($X), with a combined X% share of global imports. France, Brazil, Germany, Portugal, Japan, China, the UK and Canada lagged somewhat behind, together comprising a further X terms of the main importing countries, China experienced the highest growth rate of market size, over the period under review, while imports for 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, coming down by -X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2013 an increase of X% year-to-year. Over the period under review, the average import prices for olive oil (virgin) reached their peak figure at $X per tonne in 2017, and then declined slightly in the following year.

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

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

Source: IndexBox AI Platform