Germany: Virgin Olive Oil Market 2024

Virgin Olive Oil Market Size in Germany

The German virgin olive oil market totaled $X in 2023, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Virgin Olive Oil Exports

Exports from Germany

Virgin olive oil exports from Germany fell significantly to X tons in 2023, waning by X% against 2022 figures. Over the period under review, exports recorded a slight curtailment. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, virgin olive oil exports amounted to $X in 2023. Overall, total exports indicated moderate growth from 2012 to 2023: 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 2023 figures, exports decreased by X% against 2021 indices. The growth pace was the most rapid in 2020 when exports increased by X%. The exports peaked at $X in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Austria (X tons) was the main destination for virgin olive oil exports from Germany, with a X% share of total exports. Moreover, virgin olive oil exports to Austria exceeded the volume sent to the second major destination, the Netherlands (X tons), twofold. The third position in this ranking was held by Switzerland (X tons), with an X% share.

From 2012 to 2023, the average annual growth rate of volume to Austria stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Switzerland (X% per year).

In value terms, Austria ($X) remains the key foreign market for virgin olive oil exports from Germany, comprising X% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total exports. It was followed by Switzerland, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Austria totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Switzerland (X% per year).

Export Prices by Country

The average virgin olive oil export price stood at $X per ton in 2023, with an increase of X% against the previous year. Over the period under review, export price indicated a resilient expansion from 2012 to 2023: its price 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. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Virgin Olive Oil Imports

Imports into Germany

In 2023, supplies from abroad of virgin olive oil decreased by X% to X tons, falling for the second year in a row after three years of growth. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, virgin olive oil imports rose remarkably to $X in 2023. Over the period under review, total imports indicated a strong increase from 2012 to 2023: 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 2023 figures, imports increased by X% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of X%. Imports peaked in 2023 and are likely to see steady growth in years to come.

Imports by Country

Italy (X tons), Spain (X tons) and Greece (X tons) were the main suppliers of virgin olive oil imports to Germany, together comprising X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Spain (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Spain ($X) and Greece ($X) constituted the largest virgin olive oil suppliers to Germany, together comprising X% of total imports.

Among the main suppliers, Spain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average virgin olive oil import price amounted to $X per ton, increasing by X% against the previous year. Overall, import price indicated prominent growth from 2012 to 2023: its price 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 2023 figures, virgin olive oil import price increased by X% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were Greece ($X per ton) and Italy ($X per ton), while the price for Spain ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform