Europe Olive Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Europe Olive Market Analysis

The Europe Olive Market size is estimated at 2.65 Million metric tons in 2024, and is expected to reach 3.21 Million metric tons by 2029, at a CAGR of 4.70% during the forecast period (2024-2029).

In recent years, the European olive market has experienced rapid growth. This surge is largely attributed to a shift in consumption patterns, with olive oil becoming a staple in regular diets. Additionally, non-European countries are increasingly adopting Mediterranean culinary practices, leading to a heightened interest in table olives. However, while the EU's overall consumption remains stable, projections from the European Commission indicate a steady rise in per capita consumption in Spain, Italy, Greece, and Portugal, reaching 9.5 kgs by 2030.

Production challenges have emerged for olive growers in major producing regions, grappling with erratic rainfall, cold waves, and infestations from the olive fly. Concurrently, Italy has been witnessing an alternate bearing cycle. While these countries predominantly consume olive oil, there's been a notable uptick in the preference for table olive toppings and olives as 'tapas'. This trend has led to increased olive imports to satisfy domestic demand. Among the various olive oil categories, extra virgin olive oil is swiftly gaining traction in emerging markets as the primary edible oil, thanks to its antioxidant and phenolic compounds. Meanwhile, pomace and pure light olive oils continue to hold significance in many developed economies, signaling a promising growth trajectory for the market. Traditionally, olive oil consumption was concentrated in Mediterranean nations like Spain, Italy, Morocco, and Tunisia. However, with the rise of middle-income families, there's a noticeable shift, with many now incorporating both refined and virgin olive oil into their daily diets. A report from the Italian farmers group, Coldiretti, highlights this trend, noting a 73% surge in global olive oil consumption over the past 25 years. Demand for olives, as a commodity, is notably price-sensitive, influenced by climatic and trade fluctuations in major producing nations. In response, governments and associations have rolled out support policies, including tax rebates and subsidies, aiming to stabilize production and cover variable costs during challenging times.

The Common Agriculture Policy (CAP) has been instrumental in funding sustainable agricultural practices, including olive cultivation, within the European Union. For the 2021-2027 period, CAP's total budget stands at USD 40.07 billion. Out of this, USD 29.12 billion is earmarked for direct farmer payments. Additionally, the European Union's Horizon Europe research program will allocate USD 10.98 billion, focusing on research, innovation, and quality enhancement in food and agriculture, olives included. Given the uptick in favorable government policies and initiatives across the region, the olive market is poised for growth during the forecast period.

Europe Olive Market Trends

Rising Imports of Olives

Europe Olive Industry Segmentation

Olives are a small bitter green or black one-seeded fruit that is eaten or used to produce olive oil. The HS Code for fresh or chilled olives is 070992. The report offers an analysis of Production (Volume), Consumption (Value and Volume), Import (Value and Volume), Export (Value and Volume), and Price Trend Analysis. The report offers market size and forecasts in terms of value (USD) and volume for all the above segments.