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Olive oil is a highly valued oil and exists in most kitchens, both private and professional. It is extracted from olives, growing on olive trees around the Mediterranean. It is partly valued due to hits healthy fats and assumed positive health benefits from the fats and antioxidants. Theres are different types and classifications of olive oil, from basic olive oil used in frying to the higher quality of Extra Virgin Olive Oil (EVOO) or cold pressed, more often used as topping, dressing or similar.

Europe and moreover Southern Europe is the largest producing area of olive oil globally. Italy, Spain, Greece and Portugal are the pirmary producing countries and together cover the majority of the olive oil supply in Europe. There is a continuous increase in demand for Mediterranean food and diets, making the olive oil a popular product with increased demand. Apart from the European market, olives and olive oil are also imported to a high extent, mainly from non-EU countries such as Tunisia and Turkey who are competitive in price and still posess a close distance to the European market.

One of the main challenges is the dependence on the seasonal harvests. During the past years there have been unexpected weather conditions that have destroyed parts of the harvests, leading to a big shortage of olives, leading to increased production costs. Expanding the olive production and processing is difficult as it is limited to climate conditions, land availability and complex regulations. This leads to fluctuating market prices and the need for strong relationships between buyers and suppliers and in-time negotiations. Consumers also tend to turn to cheaper alternatives such as sunflower oil, leading to a decrasing demand for olive oil.

Despite the challenges, the market presents a number of opportunities as well. There is still a growing consumer-driven trend regarding organic and sustainable sourced products, which opens up for premium pricing and specialized, smaller-scale production. There is also an increased demand for Mediterranean food across Europe and an openness to source outside of Europe as well, for example inviting Northern African countries as potential manufacturers. There is also a present factor of innovation for products such as flavoured olive oils or single-origin oils, by similar, premium segments, that increases diversity and can offer higher profit margins. 

As a conclusion, the European olive oil market is a highly-competitive and vital category within food & beverage and is characterized by its quality and tradition. Buyers who want to be successful in this category must navigate the complexity of timing, negotiation and strategic planning to meet changing consumer demands and climate changes.

With Torg, you can set up a request or tender in minutes, receiving price quotations from some of the leading manufacturers in Europe. You will own the dialogue and negotiation to close a deal for the upcoming season. Torg is here to support your work in finding verified suppliers that can cater to your needs. See some of our top suppliers below, the top certificates in the category and the top producing countries.