Graph and download economic data for Global price of Olive Oil (POLVOILUSDM) from Jan 1990 to Jun 2025 about oil, World, food, and price.

Get the latest insights on price movement and trend analysis of Olive Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Graph and download economic data for Global price of Olive Oil (POLVOILUSDQ) from Q1 1990 to Q2 2025 about oil, World, food, and price.

Value represents the benchmark prices which are representative of the global market. They are determined by the largest exporter of a given commodity. Prices are period averages in nominal U.S. dollars.

Copyright © 2016, International Monetary Fund. Reprinted with permission. Complete terms of use and contact details are available at http://www.imf.org/external/terms.htm.

In 2024, the Azerbaijani virgin olive oil market decreased by -17.5% to $2.8M, falling for the second consecutive year after two years of growth. In general, consumption recorded a mild descent. Over the period under review, the market reached the maximum level at $6.2M in 2017; however, from 2018 to 2024, consumption remained at a lower figure.

European Union - Harmonised index of consumer prices (HICP): Olive oil was 157.18 points in April of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for European Union - Harmonised index of consumer prices (HICP): Olive oil - last updated from the EUROSTAT on June of 2025. Historically, European Union - Harmonised index of consumer prices (HICP): Olive oil reached a record high of 205.33 points in April of 2024 and a record low of 90.98 points in December of 2020.

According to Cognitive Market Research, the global Extra Virgin Olive Oil market size will be USD 9651.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 7.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 3860.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 2895.45 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2219.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 482.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 193.03 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
The food industry category is the fastest growing segment of the Extra Virgin Olive Oil industry

Market Dynamics of Extra Virgin Olive Oil Market

Key Drivers for Extra Virgin Olive Oil Market

Rising Health Consciousness to Boost Market Growth

The market for extra virgin olive oil (EVOO) is expanding due in large part to growing health consciousness. Healthy diets are becoming more and more important to consumers, who are looking for products like EVOO that are high in monounsaturated fats and antioxidants. Its demonstrated ability to lower inflammation, enhance cardiovascular health, and aid in weight control is consistent with consumers' increasing desire for natural and functional foods. An essential component of the Mediterranean diet, EVOO is well known for its ability to prolong life and fend against chronic illnesses. The demand for EVOO is rising as more people become aware of these advantages, especially in emerging nations. Health-related advertising campaigns and the growing popularity of plant-based and organic lifestyles are contributing factors to this trend.

Increasing Demand for Natural and Organic Products to Drive Market Growth

The market for extra virgin olive oil (EVOO) is expanding due in large part to the growing demand for natural and organic products. Consumers are increasingly choosing minimally processed and synthetic chemical-free products as they grow more aware of the effects their food choices have on the environment and their health. Because of its purity and environmentally friendly production practices, organic EVOO, which is certified by organizations like USDA Organic and EU Organic, is becoming more and more well-known. Customers who appreciate sustainable farming methods and are health and environmental-sensitive are especially embracing this trend. The demand for organic EVOO is further increasing due to the growing global embrace of organic lifestyles and the premiumization of food choices.

Restraint Factor for the Extra Virgin Olive Oil Market

High Competition from Substitute Oils, such as Sunflower, Canola, And Coconut Oil Will Limit Market Growth

The market for extra virgin olive oil (EVOO) is being held back by fierce competition from alternative oils. Many markets are dominated by less expensive substitutes including palm, coconut, canola, and sunflower oil, particularly in areas where consumers are highly sensitive to price. Due to their higher smoke points, these oils work better in high-heat cooking, are more widely accessible, and are frequently chosen for their neutral flavors. Furthermore, the adoption of EVOO is constrained by the great cultural relevance of traditional oils, such as peanut oil in some areas or mustard oil in South Asia. Because of the fierce competition, EVOO manufacturers must set themselves apart from the competition with superior quality, health benefits, and premium positioning in order to attract a wider range of customers.

Impact of Covid-19 on the Extra Virgin Olive Oil Market

The COVID-19 pandemic affected the market for extra virgin olive oil (EVOO) in a variety of ways. Increased demand for nutrient-rich and immune-boosting products, such as EVOO, was a result of growing health consciousness. During lockdowns, more people cooked at home, which l...

For the third year in a row, the UK olive oil market recorded growth in sales value, which increased by 35% to $335M in 2024. Over the period under review, consumption, however, recorded a strong increase. Olive oil consumption peaked in 2024 and is expected to retain growth in years to come.

Spain - Harmonised index of consumer prices (HICP): Olive oil was 138.33 points in June of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Spain - Harmonised index of consumer prices (HICP): Olive oil - last updated from the EUROSTAT on July of 2025. Historically, Spain - Harmonised index of consumer prices (HICP): Olive oil reached a record high of 266.70 points in April of 2024 and a record low of 87.07 points in September of 2020.

In 2023, imports of olive oil and its fractions into the United States fell to 255K tons, waning by -12.2% compared with 2022 figures.

Global Organic Olive Oil market size is expected to reach $1.74 billion by 2029 at 9.7%, segmented as by virgin olive oil, pure virgin olive oil, light virgin olive oil, cold-pressed virgin olive oil, unfiltered virgin olive oil

The global olive oil market surged to $17.6B in 2024, jumping by 16% against the previous year. The market value increased at an average annual rate of +2.2% from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market reached the maximum level in 2024 and is expected to retain growth in the near future.

The Greek virgin olive oil market surged to $548M in 2024, jumping by 82% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $572M in 2017; however, from 2018 to 2024, consumption remained at a lower figure.

The commercial infused olive oil market is experiencing robust growth, driven by increasing consumer demand for convenient, flavorful, and healthy cooking options. The market's expansion is fueled by several key factors. Firstly, the rising popularity of gourmet cooking and culinary experimentation encourages the use of infused oils, adding depth and complexity to dishes. Secondly, health-conscious consumers are drawn to the nutritional benefits of olive oil, further boosting demand for infused varieties which often incorporate additional herbs, spices, and flavors without compromising the health benefits. This trend is particularly noticeable in developed regions like North America and Europe, where sophisticated palates and readily available high-quality ingredients are significant drivers. We estimate the 2025 market size to be approximately $500 million, growing at a CAGR of 7% from 2025 to 2033. This growth is largely attributed to the increasing number of food service establishments, like restaurants and cafes, adopting infused olive oils to enhance their menu offerings. However, several factors restrain market growth. Fluctuations in olive oil prices due to weather patterns and global harvests can impact profitability and consumer spending. Additionally, maintaining consistent flavor profiles across large-scale production presents a challenge, requiring careful quality control measures. Competition from other cooking oils and the presence of substitute products offering similar flavor profiles also limit market expansion. Segmentation analysis reveals a strong preference for specific flavor profiles, with herbs like basil and rosemary, and chili-infused oils proving particularly popular. Major players like OliveOilsLand, Lam Soon, and Belazu are focusing on innovation and premium product lines to cater to the growing demand for high-quality infused olive oils, creating a competitive yet dynamic market landscape. The forecast period of 2025-2033 shows considerable potential for market expansion, particularly in emerging economies where rising disposable incomes are increasing consumer spending on premium food products.

The global small package edible oil market is experiencing robust growth, driven by evolving consumer preferences and lifestyle changes. The increasing demand for convenience and single-serving options, particularly in urban areas with busy lifestyles, is a major catalyst. Furthermore, the growing popularity of online grocery shopping and food delivery services significantly contributes to market expansion. While precise figures for market size and CAGR are unavailable from the provided text, based on industry reports and general market trends for similar packaged food products, we can estimate the 2025 market size to be approximately $15 billion USD. Assuming a conservative compound annual growth rate (CAGR) of 5% over the forecast period (2025-2033), the market is projected to reach approximately $23 billion USD by 2033. This growth is further fueled by rising disposable incomes in developing economies and increasing health consciousness, leading to a demand for healthier oil options like olive and canola oils in small, convenient packages. However, the market faces certain restraints. Fluctuations in global commodity prices for raw materials, such as soybeans and palm oil, directly impact production costs and profitability. Furthermore, stringent regulations regarding food safety and labeling can add compliance costs for manufacturers. The market is highly competitive, with several established players and emerging brands vying for market share. Successful companies will need to leverage technological advancements in packaging, distribution, and marketing to maintain a competitive edge. Segmentation by oil type (Canola, Soybean, Olive, etc.) and sales channels (online vs. offline) will continue to shape market dynamics. The leading companies are strategically focusing on product diversification, brand building, and expansion into new geographical markets to achieve sustainable growth. The Asia-Pacific region is anticipated to dominate the market share due to its large and growing population base and rising disposable incomes.

In 2024, the Japanese olive oil market increased by 31% to $330M, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of +5.7% from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

For the fifth consecutive year, the U.S. virgin olive oil market recorded growth in sales value, which increased by 45% to $2.2B in 2024. Over the period under review, consumption posted buoyant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

The global vegetable oil market, valued at $384.89 million in 2025, is projected to experience robust growth, driven by increasing demand from the food and biofuel sectors. A Compound Annual Growth Rate (CAGR) of 7.47% from 2025 to 2033 indicates a significant expansion of this market. Key drivers include rising global populations leading to increased food consumption, growing adoption of biofuels as a sustainable energy source, and increasing industrial applications in cosmetics and other manufacturing processes. The market segmentation reveals palm oil, soybean oil, and rapeseed oil as dominant types, with applications spanning food (energy), animal feed, and industrial uses. While challenges exist, such as fluctuating crop yields and price volatility associated with raw material costs, the long-term outlook remains positive, fueled by consistent demand and ongoing research into sustainable oil production methods. The market is geographically diverse, with significant contributions from North America, Europe, and the Asia-Pacific region. North America, with its large consumer base and established food processing industry, is expected to maintain a leading market share. However, the Asia-Pacific region is poised for rapid growth due to its burgeoning population and rising disposable incomes. Competition within the market is intense, with major players including Archer Daniels Midland, Sime Darby Plantation, Bunge Limited, and Wilmar International continually striving for market share through innovation, mergers and acquisitions, and strategic partnerships. Future growth will be shaped by factors such as evolving consumer preferences towards healthier oils, government regulations promoting sustainable agriculture, and advancements in oil extraction and processing technologies. The increasing focus on reducing reliance on fossil fuels will further enhance demand for vegetable oils in the biofuel segment. Recent developments include: In July 2022, Eni Kenya B.V. completed the construction of the oilseed collection and pressing plant (agri-hub) in Makueni, Kenya, and started production of the first vegetable oil for bio-refineries. According to the company, the first agri-hub would have an installed capacity of 15,000 tons with an expected output of 2,500 tons in 2022., In June 2022, Freedom Refined Sunflower Oil, Gemini Edibles & Fats India (GEF India) announced plans to expand into other States, including Tamil Nadu and Kerala. The business asserted that it is considering strategic expansion and plans to enter Tamil Nadu and Kerala, with a strong demand for sunflower oil, in the coming years., In February 2021, Bunge Loders Croklaan expanded its oils and fats portfolio to meet the organic demand in Europe, offering a steady and scalable supply of organic oils and fats, including sunflower, rapeseed, soy, palm, shea, and coconut., In November 2021, Cargill Incorporated acquired an edible oil refinery situated in Nellore, India, and invested USD 35 million to purchase and improvise the facility, which would increase the production volume of edible oil and help the company to extend its existing supply chain to meet consumer requirements.. Notable trends are: Increasing Demand For Fortified Vegetable Oils.

According to Cognitive Market Research, the avocado oil market size is expected to reach USD XX Million by 2024 and is projected to grow to USD XX Million by the end of 2033, expanding at a CAGR of XX% from 2025 to 2033.

North America held largest share of XX% in the year 2024 
Europe held share of XX% in the year 2024 
Asia-Pacific held significant share of XX% in the year 2024 
South America held significant share of XX% in the year 2024
Middle East and Africa held significant share of XX% in the year 2024 

MARKET DYNAMICS: KEY DRIVERS

Increasing consumer awareness of its health benefits, as well as its versatility in culinary applications, is driving the market growth of the avocado oil market.

Rising consumer awareness of avocado oil’s health benefits and its culinary versatility is significantly boosting the market. As global health consciousness grows, more consumers recognize avocado oil's rich content of monounsaturated fats, antioxidants, and vital vitamins like vitamin E and oleic acid. These nutrients are associated with better heart health, improved cholesterol, and anti-inflammatory properties, making avocado oil a healthier alternative to conventional cooking oils. Its compatibility with popular diets such as keto, paleo, and plant-based lifestyles increases its attractiveness to health-focused buyers. Moreover, the increasing rates of lifestyle-related conditions like obesity and diabetes encourage a shift toward healthier oils, boosting demand in both developed and emerging markets. The trend of meal prepping also fuels the rising use of avocado oil sprays, as consumers seek convenient, nutritious options that support their fitness and dietary goals. For example, a 2022 study by CPD Online College Limited shows 73% of UK users prep meals to save time, and 60% to eat healthier. Similarly, 2022 YouGov data indicates global calorie counting popularity, especially in MENA and APAC regions, driving demand for low-calorie solutions like avocado oil sprays. Products such as Chosen Foods' offering of just 5 calories per serving are popular among calorie-conscious consumers. Besides health and convenience, avocado oil’s culinary versatility is key to its market growth. Its high smoke point suits frying, sautéing, and baking, while its mild, buttery flavor enhances cold dishes like salad dressings and marinades. This multifunctionality appeals to food enthusiasts, home cooks, and the foodservice industry, with fine dining and gourmet kitchens increasingly using avocado oil as a premium ingredient owing to its clean-label status and compatibility with diverse cuisines. Together, these factors are driving the avocado oil market forward as consumers and businesses embrace its health benefits and culinary versatility.

https://cpdonline.co.uk/knowledge-base/food-hygiene/meal-prepping/

https://business.yougov.com/content/43303-global-consumers-care-about-counting-calories-poll

Restraints

High Cost and Limited Availability are hampering the growth of the avocado oil market.

The growth of the avocado oil market is limited by its high cost and restricted supply. Producing avocado oil is costly due to the labor-intensive extraction process and the expensive, seasonally variable raw avocados. Unlike seed oils, avocado oil is extracted from the fruit pulp, requiring more fruit to produce the same amount of oil, which increases raw material costs. Additionally, avocado farming is concentrated in specific regions vulnerable to climate change, affecting supply stability and causing price fluctuations. Since avocados are mainly sold fresh with a short shelf life, their limited availability restricts oil production volume. In Mexico, a leading consumer with a per capita consumption of 12 kilograms in 2024, avocados remain a luxury due to high prices compared to other fruits. Although domestic demand is growing, avocado imports, used to supplement supply during low production, have decreased over the past three years, further tightening availability. These factors raise production costs and restrict supply, making avocado oil more expensive than alternatives like olive or canola oil. This higher price limits market growth, especially among cost-sensitive consumers and producers, slowing the overall expansion of the avocado oil market.

https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=Avoc...

The Mexican virgin olive oil market soared to $177M in 2024, growing by 94% against the previous year. In general, consumption enjoyed a strong expansion. Over the period under review, the market hit record highs in 2024 and is likely to see steady growth in the near future.