In 2023, Italy led the global olive oil market with 18.71 thousand metric tons, followed closely by Spain with 18.16 thousand metric tons. The United States holds a significant market share at 11.15 thousand metric tons, while Greece and Morocco contributed 5.28 and 4.52 thousand metric tons respectively. Notable year-on-year variations include a 0.26% decrease for Italy and a 7.6% increase for Spain. Algeria showed a strong 1.91% increase, while Brazil experienced a notable 1.28% decline. China's market size decreased by 0.43%, and Russia saw a significant reduction of 3.93%.
Future trends to watch for include the potential for increased market share in the United States due to growing health awareness and dietary shifts. China's market might see recovery if consumer interest in Mediterranean diets grows. The market could also see further expansion in emerging economies like India and Brazil, driven by increasing availability and marketing of olive oil's health benefits.
Top countries in Olive Oil Market Size Volume Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 18.71 | 2023 | -0.73% | -0.26% | View data |
| 2 | 2 Spain | 18.16 | 2023 | +0.19% | +0.076% | View data |
| 3 | 3 United States | 11.15 | 2023 | +0.31% | +0.25% | View data |
| 4 | 4 Greece | 5.28 | 2023 | 0% | -0.13% | View data |
| 5 | 5 Morocco | 4.52 | 2023 | +0.77% | -0.75% | View data |
| 6 | 6 France | 4.04 | 2023 | 0% | +0.17% | View data |
| 7 | 7 Algeria | 3.83 | 2023 | +3.74% | +1.91% | View data |
| 8 | 8 Brazil | 2.59 | 2023 | 0% | -1.28% | View data |
| 9 | 9 Portugal | 2.24 | 2023 | 0% | -0.3% | View data |
| 10 | 10 United Kingdom of Great Britain and Northern Ireland | 2.21 | 2023 |
