Vegetable oils: olive oil and its fractions, other than virgin, whether or not refined, but not chemically modified

In 2024, vegetable oils: olive oil and its fractions, other than virgin, whether or not refined, but not chemically modified trade exhibited strong growth, with global flows reaching $2,766,029,404 and a three-year compound annual growth rate of +27.1% (five-year: +19.9%). The all-time peak of $2,766,029,404 was recorded in 2024.

Over the 30-year observation window (1995–2024), 69% of years recorded positive growth, indicating a predominantly expanding market. Trend momentum is strengthening (+19.7% acceleration).

The World Trade Flows Characterization classifies vegetable oils: olive oil and its fractions, other than virgin, whether or not refined, but not chemically modified as "One-way trade" in the medium price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is concentrated (Herfindahl-Hirschman Index 0.352). The three largest exporters — Spain ($1.6B), Italy ($431.9M), and Portugal ($250.5M) — collectively dominate supply flows. The leading exporter has grown at +25.5% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.090). The three largest import markets are United States ($657.4M), Italy ($336.2M), and Spain ($186.1M). The largest importing market sources from 53 different supplying countries.

The dominant trade corridor is Spain → United States at $309.0M, representing 47.0% of the importer's total demand.

The volatility score for vegetable oils: olive oil and its fractions, other than virgin, whether or not refined, but not chemically modified is 13 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, strong demand tailwinds create a favourable entry environment. The concentrated supply structure suggests high barriers but also potential opportunity if dominant suppliers face disruption or capacity constraints.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.