View monthly updates and historical trends for Olive Oil Price. Source: International Monetary Fund. Track economic data with YCharts analytics.

According to Cognitive Market Research, the global Extra Virgin Olive Oil market size was 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.

Key Trends for Extra Virgin Olive Oil Market

Increase in E-Commerce and Direct-to-Consumer Channels: Digital platforms are progressively utilized to market artisanal and organic extra virgin olive oil (EVOO) directly to health-conscious consumers, circumventing conventional retail and facilitating traceability and marketing based ...

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).

Analysis of Europe's virgin olive oil market from 2024-2035, covering consumption, production, trade, and price trends for major countries like Spain, Italy, and Greece.

The average olive oil import price stood at $5,823 per ton in May 2025, standing approximately at the previous month.

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. Over the period under review, consumption showed a mild setback. Virgin olive oil consumption peaked at $6.2M in 2017; however, from 2018 to 2024, consumption failed to regain momentum.

European Union - Harmonised index of consumer prices (HICP): Olive oil was 142.10 points in September 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 October 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.

The article discusses the rising demand for virgin olive oil in the United States, projecting a steady increase in consumption over the next decade. Market performance is expected to grow at a moderate rate, with volume reaching 310K tons and market value reaching $2.9B by 2035.

Analysis of the UK virgin olive oil market, including consumption, imports, exports, and price trends from 2024 to 2035, with forecasts for market volume and value.

Global Organic Virgin Olive Oil market size 2025 was XX Million. Organic Virgin Olive Oil Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

The Greek virgin olive oil market soared to $550M in 2024, with an increase of 83% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Virgin olive oil consumption peaked at $574M in 2017; however, from 2018 to 2024, consumption failed to regain momentum.

The GCC virgin olive oil market reduced modestly to $152M in 2024, with a decrease of -4.9% against the previous year. Overall, consumption, however, enjoyed a prominent expansion. The level of consumption peaked at $192M in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

In March 2025, the average olive oil export price amounted to $4,977 per ton, declining by -4.6% against the previous month.

Analysis of the MENA virgin olive oil market, covering consumption, production, trade, and forecasts from 2024 to 2035. Key data on market size, leading countries, and growth trends.

Learn about the forecasted growth of the virgin olive oil market in North America, with consumption expected to increase over the next decade. Market volume is projected to reach 359K tons by 2035, with a value of $3.3B.

Explore the latest research on the global olive oil market, which is poised for steady growth in both volume and value over the next decade. Find out the projected market trends and expected increase in consumption.

In May 2025, the average olive oil import price amounted to $5,185 per ton, reducing by -14.2% against the previous month.

In November 2022, the virgin olive oil price amounted to $6,013 per ton (CIF, Mexico), jumping by 15% against the previous month.

The average olive oil import price stood at $7,594 per ton in March 2025, shrinking by -2.4% against the previous month.

In May 2025, the average olive oil import price amounted to $7,080 per ton, growing by 13% against the previous month.