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

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).

In 2017, Olive Oil Price in Greece grew 15.5% compared to the previous year.

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 ...

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

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

Global Olive Oil Prices - Historical chart and current data through 2025.

The global olive oil market soared to $26.5B in 2024, jumping by 34% against the previous year. Over the period under review, consumption continues to indicate buoyant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

European Olive Oil Price Index by Country, 2022 Discover more data with ReportLinker!

This statistic shows the consumption of olive oil worldwide from 2012/13 to 2024/25. In 2023/24, the global consumption volume of olive oil amounted to about **** million metric tons and is expected to increase to about **** million metric tons in 2024/25.

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.

Out of the **** million metric tons produced worldwide in 2022/2023, Spain contributed to **** million metric tons. Europe generates most of the world’s olive oil, and Spain plays a very important role in its production. Same country, different taste for olive oil Although an essential ingredient in the Spanish cuisine, olive oil consumption can vary greatly across the Mediterranean country’s regions depending on the preferred oil type. In that regard, Galicia led the list of consumers of regular olive oil with around **** liters per capita, whereas La Rioja featured the highest intake of extra virgin olive oil at **** liters in 2021. Although Spaniards often use their olive oil for many of their dishes, olive oil consumption experienced a downward trend during the last few years, with the average person intaking **** kilograms of the golden liquid in 2022 from *** kilograms in 2010. The profile of a Spanish olive oil consumer In terms of expenditure, Spaniards spent on average **** euros on their olive oil – although the price can vary greatly depending on the distribution channel, with e-commerce shops featuring the cheapest olive oil price per liter in 2022. Nationwide, the average Spaniard shopped for olive oil at supermarkets, with over ** percent of olive consumer in this country choosing this distribution channel over other stores.

9547 Global export shipment records of Olive Oil with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

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

Saudi Arabia Prices of Goods and Services: Avg: OF: Olive Oil: Imported: Al Wazir data was reported at 26.370 SAR/500 ml in Mar 2025. This records an increase from the previous number of 25.980 SAR/500 ml for Feb 2025. Saudi Arabia Prices of Goods and Services: Avg: OF: Olive Oil: Imported: Al Wazir data is updated monthly, averaging 15.570 SAR/500 ml from Jan 2009 (Median) to Mar 2025, with 195 observations. The data reached an all-time high of 26.370 SAR/500 ml in Mar 2025 and a record low of 13.910 SAR/500 ml in Mar 2013. Saudi Arabia Prices of Goods and Services: Avg: OF: Olive Oil: Imported: Al Wazir data remains active status in CEIC and is reported by General Authority for Statistics. The data is categorized under Global Database’s Saudi Arabia – Table SA.P001: Average Prices of Goods and Services. [COVID-19-IMPACT]

2199 Global import shipment records of Extra Virgin Olive Oil with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

184 Global export shipment records of Extra Virgin Olive Oil with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

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

Russia Avg Consumer Price: Oils & Fats: Olive Oil data was reported at 1,008.060 RUB/l in Jan 2019. This records a decrease from the previous number of 1,011.480 RUB/l for Dec 2018. Russia Avg Consumer Price: Oils & Fats: Olive Oil data is updated monthly, averaging 556.750 RUB/l from Jan 2009 (Median) to Jan 2019, with 121 observations. The data reached an all-time high of 1,011.480 RUB/l in Dec 2018 and a record low of 408.840 RUB/l in Jan 2009. Russia Avg Consumer Price: Oils & Fats: Olive Oil data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Prices – Table RU.PA002: Average Consumer Price: Food.