The global olive oil market saw Italy leading in 2023 with a volume of 542 thousand metric tons, despite a slight annual decline. Spain, while slightly behind in volume, experienced growth, driven by increasing demand. The United States showed the most significant growth, aligning itself as a major consumer. North African countries like Algeria and Morocco showed contrasting trends, with Algeria witnessing rapid growth. Emerging markets such as Brazil and China faced declines, looking to stabilize their markets. Overall, market volatility was evident with mixed performances across regions.
Future trends suggest potential expansions in the U.S. and Asian markets, alongside a focus on sustainability and organic olive oil products. The volatility in traditional producing countries may lead to supply chain adjustments, and rising global health consciousness may boost overall demand.
Top countries in Olive Oil Market Size Volume by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 542 | 2023 | -0.73% | -0.26% | View data |
| 2 | 2 Spain | 526 | 2023 | +0.19% | +0.076% | View data |
| 3 | 3 United States | 323 | 2023 | +0.31% | +0.25% | View data |
| 4 | 4 Greece | 153 | 2023 | 0% | -0.13% | View data |
| 5 | 5 Morocco | 131 | 2023 | +0.77% | -0.75% | View data |
| 6 | 6 France | 117 | 2023 | 0% | +0.17% | View data |
| 7 | 7 Algeria | 111 | 2023 | +3.74% | +1.91% | View data |
| 8 | 8 Brazil | 75 | 2023 | 0% | -1.28% | View data |
| 9 | 9 Portugal | 65 | 2023 | 0% | -0.3% | View data |
| 10 | 10 United Kingdom of Great Britain and Northern Ireland | 64 | 2023 |
