Virgin olive oil and fractions market in Italy

Earlier Report Observations

The Italian virgin olive oil market experienced a decline in value to $2 225 million in 2019 but began to recover in 2020, reaching $2 416 million. This period marked the start of a sector-wide transformation where extra virgin olive oil became a selective good, driven by climatic factors, rising production costs, and foreign demand increasingly oriented toward quality.

After a dip to $2 228 million in 2021, the market grew to $2 513 million in 2022, supported by a stable market environment with growing consumer attention to organic and natural products. Favorable agronomic conditions in Italy further contributed to an increase in market size to $2 859 million in 2023.

The market expansion continued in 2024, reaching $3 153 million. This growth was underpinned by a 45% surge in export value, which solidified Italy's international position. Key innovations also played a role, including the introduction of blockchain labels for end-to-end traceability by Carapelli Firenze and the launch of a new range of extra virgin olive oils with very low acidity by Deoleo, catering to the premium segment. The revision of European regulations on olive oil and growing demand for organic and cold-pressed oils further shaped the market dynamics.

Production virgin olive oil and fractions in Italy

In value, 2017-2020, M $ US

In 2020, Italy's production of virgin olive oil and fractions was valued at 2 369 million US dollars, marking a 17.7% increase compared to 2019. Over the period from 2017 to 2020, production grew by 21.1%, which translates to an annualized growth rate of 6.6%. The highest value was recorded in 2018 at 2 516 million US dollars, while the largest decline occurred in 2019 with a 20.0% drop. The most significant increase was observed in 2018, with a 28.7% rise.

Annual dynamics of production in Italy in value, 2017-2020, M $ US

In kind, 2017-2020, K t

From 2017 to 2020, Italy held the second position globally in the production of virgin olive oil and fractions.

Top producers of virgin olive oil and fractions, 2017-2020

World map of production of virgin olive oil and fractions, 2017-2020

The market exhibited volatility during the observed period. The lowest production volume was recorded in 2017, while the highest was in 2018, showing a 5.3-fold difference between these years. In 2020, Italy produced 1 333 thousand tonnes of virgin olive oil and fractions, which represents a 179.4% increase compared to 2019. The peak volume was reached in 2018 at 1 923 thousand tonnes. The largest decline occurred in 2019 with a 75.2% decrease, and the most substantial increase was in 2018 with a 428.3% rise.

Annual dynamics of production in Italy in kind, 2017-2020, K t

Exports virgin olive oil and fractions from Italy

Exports in kind, K t

Italy's exports of virgin olive oil and fractions have increased for the third consecutive year. In 2020, exports amounted to 312.7 thousand tonnes, reflecting a 23.2% year-over-year growth. Between 2017 and 2020, exports rose by 30.2%, equivalent to an annualized rate of 9.2%.

Annual dynamics of product's exports from Italy in kind, 2017-2020, K t

From 2017 to 2020, the United States, Germany, and France were the primary buyers of virgin olive oil and fractions from Italy in terms of volume. The United States accounted for 30.1% of exports, Germany for 13.5%, and France for 10.2%, together comprising 53.8% of total exports in kind.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Italy in kind, 2017-2020

Exports in value, M $ US

In 2020, Italy's exports of virgin olive oil and fractions reached 1 406 million US dollars, showing a moderate uptick of 9.5% compared to the previous year. The minimum value was recorded in 2019 at 1 284 million US dollars, while the maximum was in 2018 at 1 408 million US dollars. The largest decline occurred in 2019 with an 8.8% decrease.

Annual dynamics of product's exports from Italy in value, 2017-2020, M $ US

Over the period 2017–2020, the United States, Germany, and France were the main buyers of virgin olive oil and fractions from Italy in value terms. The United States represented 31.4% of exports, Germany 14.0%, and France 8.4%, collectively accounting for 53.8% of total exports in value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Italy in value, 2017-2020

Imports virgin olive oil and fractions to Italy

Imports in kind, K t

Italy's imports of virgin olive oil and fractions have increased for the third consecutive year. In 2020, import volume totaled 572.2 thousand tonnes, indicating a limited increase of 6.7% compared to 2019. From 2017 to 2020, imports grew by 25.6%, with a compound annual growth rate of 7.9%.

Annual dynamics of product's imports to Italy in kind, 2017-2020, K t

During 2017–2020, Spain and Greece played the leading roles in Italy's imports of virgin olive oil and fractions in terms of volume, together accounting for 83.1% of total flows, while the remainder was distributed among other destinations.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Italy in kind, 2017-2020

Imports in value, M $ US

Italy's imports of virgin olive oil and fractions have declined for the third consecutive year. In 2020, imports reached 1 453 million US dollars, indicating a small fall of 2.9% versus the previous year. Over the period 2017-2020, imports decreased by 25.9%, with a compound annual growth rate of 9.5%.

Annual dynamics of product's imports to Italy in value, 2017-2020, M $ US

From 2017 to 2020, Spain and Greece remained the main markets for Italy's imports of virgin olive oil and fractions in value terms, jointly accounting for 83.4% of total flows, with other partners forming the remaining share.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Italy in value, 2017-2020