Jun. 25 – China’s booming olive oil market is linked to increasing awareness of health diet among Chinese consumers. In 2017, China’s olive oil imports from the world amounted to around 37 thousand tons, the sales value of oils in the Chinese market totaled around 14.4 billion U.S. dollars, according to related statistic, of consumer goods, food & nutrition.
Olive oil in China
Olive oil in China gains attraction, with growing size of middle class and changing cooking habits of new generation Chinese, olive oil China market is booming as recently reported. It is wide believed that olive oil is one of the healthiest diets in the world, and it is a key factor of the celebrated ‘Mediterranean diet” – fresh fruit and vegetables, fish and pulses. According to Mintel research, Chinese way of cooking are more steaming and boiling less frying and scorching. This style is more obvious among aged around 30 married Chinese consumers. This lighter cooking trendy style is likely to remain widespread among Chinese families; Olive oil as a healthier ingredient adds more value to the food and to the way of Chinese cooking which to complement steamed or boiled foods. Nowadays, salad is trendy in Chinese dinner table, especially, as salad is becoming a popular diet among food item in China, and salad item often presented in restaurant menu card. The same is true with creating more personal taste of salad by add olive oil to it, more fit in the choice of individual flavors preferences, and more Chinese consumers are trying to recreate simple and healthy salad dish in the comfort of their homes by “do it yourself”, olive oil on-pack as a salad dressing or as a composite ingredient to make a dressing contain suitability for market development potential in China. Above of all, olive oil as salad healthier addressing has added-value to the flavors, it is a booming , however, olive oil prices is comparably expensive to other oils in China, between RMB 70 up to RMB 200 per liter. In the past, Olive oil prices averages at RMB 98 (USD 16.1) per liter, which is significantly higher than the remaining cooking oil market, which averages at RMB 17. As reported the Chinese market has started to appreciate foreign olive oil for various reasons during the past years. Even if the global consumption of olive oil has decreased, it actually increases in China. With double digits annually. Currently, Spain has benefited the most from this, accounting for about four-fifths of China’s total olive oil imports. Italy, Greece and Turkey are also among the countries with a share of the pie in this market, especially, reduction in production costs in Italy and China’s tariff reductions on olive oil from Italy, have boosted the popularity of Italian olive oil with Chinese consumers, and countries like Italy, Greece and Tunisia to adapt to Chinese consumers’ attitudes towards oil and their changing eating habits to continue increasing market share in this market in the future.
Olive Oil Market in China
With almost 1.4 billion population, China’s record economic progress has converted the country into an overall purchasing driving force. Particularly the magnitude of the market and its proportions of middle class, China is significant, it impacts global countless industry. At this moment, China’s olive oil market is booming. As we see an increase in the number of health-conscious consumers limiting the amount of oil in their diets. Traditionally, China is not olive oil consumption nation despite olive oil is considered to be one of the healthiest diets in the world. But now, olive oil market in China can be described as “small volumes used to, big market sizes to count on”. At the recent 2019 Eighth edition of World Olive Oil Exhibition in Madrid indicated that consumption of olive oil has increased consistently for the past 20 years worldwide, with Spanish producers making an effort to crack important expanding markets, such as the U.S. and China. Why Chinese consumers are fond of olive oil in their diets and cooking? it all begins with the increased wealth, increased awareness of health, and increased demand for more wellness in today’s China. Olive oil, It is widely believed that, among others, is one of the key ingredient of the healthy ‘Mediterranean diet’, that’s explained more about recent changes in growing olive oil consumption in China.
These numbers speak capacities:
- China accounts for 0,2% of the world olive oil production; the country produced only 5.000 tons of
olive oil in 2016-2017, compared to the 2.539.000 tons produced globally (according to
International Olive Council Production/Consumption/Imports Reports);
- China’s olive oil imports from the world amounted to around 37 thousand tons in 2017, the sales
value of oils in the Chinese market totaled around 14.4 billion U.S. dollars (according to statista);
- China’s population consumed around 45,000 metric tons of olive oil in 2017, this figure marks
China olive oil consumption volume;
- There are over 300-brand olive oil appears in China market, which are nearly 100% imported from
Spain, Greece, Italy, Turkey, Tunis, Portugal, Jordan, Australia, Argentina and etc.;
- The average proportion of imported olive oil has been keeping the increases nearly 30% per year,
according to a related graphic: China Imported Olive Oil data (ton);
- It is anticipated 40,000 tons olive oil will be imported to China in the coming year.
Though these numbers only reveal part of the portrait of olive oil in China, they display China’s consumption wave move toward better and healthier direction. Despite this trend, the market is fragmented with different notions of health, reflected in spending decisions. While local Chinese olive oil companies are gaining traction, international brands in the quality and excellence category are still leading the industry. Chinese consumers still value the stringent food safety standards, improved quality and innovation that foreign brands promise, and they are willing to pay premium prices for them. As we see an increase in the number of health-conscious Chinese consumers limiting the amount of oil in their diets, more Chinese prefer healthier olive oil, China’s olive oil market is booming bigger in the near future.
Olive Oil Importers in China
China imports olive oil has been going on for a quite long period, at least with more than 10 years recorded statistics up to 2017; the average proportion of imported olive oil has been keeping the increases nearly 30% per year, according to a related graphic: China Imported Olive Oil data (ton). olive oil production in China accounts for 0,2% of the world production, there were 5.000 tons of olive oil produced in China, and 2.539.000 tons produced globally during 2016-2017, according to a related data from International Olive Council Production/Consumption/Imports Reports. Olive oil production in Chin is a rather tiny amount when compared with its 1.4 billion populations. However, it is anticipated 40,000 tons olive oil will be imported to China in the coming year, and the China olive oil market is getting more stable as imports is a remedy for curing the deficiency of olive oil supply in Chinese market. As one of the healthier food with nutrition value, olive oil is more and more welcome in China. There are over 300-brand olive oil appears in China market, which are nearly 100% imported from Spain, Greece, Italy, Turkey, Tunis, Portugal, Jordan, Australia, Argentina and etc. The main consumption cities of olive oil in China concentrated on major larger cities and middle-sized cities, such as: Beijing, Shanghai, Guangzhou, Shenzhen, and Tianjin other large and middle sized cities. For international olive oil producers, olive oil imports/exports companies attempt to seek the market opportunities in China, the List of Chinese Importers for Olive Oil is available, For further information. Please contact DCCC– the organization assists foreign companies to connect with reliable Chinese importers, distributors for Consumers Goods, Food-Beverages. Email email@example.com