Greece is home to over 123 million olive trees and produces around 250,000 tons of olive oil every year—82% of which is extra virgin, the highest-quality grade. Yet unlike Spain and Italy, the country has failed to establish a powerful global brand for its most iconic product.
The result? Greece is forfeiting an estimated €250–300 million annually in potential added value, as most of its oil is exported in bulk to Italy and Spain, mixed with other oils, and re-exported under foreign labels.
Global Market Outlook: A Boom Ahead
After falling to a decade-low of 2.6 million tons in 2023–2024, global olive oil production is set to rebound strongly. According to the International Olive Council, output will rise by 36% to 3.5 million tons in 2024–2025.
The market, valued at $15.6 billion in 2025, is projected to grow to nearly $20 billion by 2032, with Europe maintaining dominance. Spain, Italy, and Greece together account for more than 70% of world production.
Spain remains the undisputed giant, producing 1.41 million tons in 2024–25 (+66% year-on-year) and holding a 45–50% share of global output. With 320 million olive trees, it exports under powerful domestic brands.Italy, though producing less than it consumes (248,000 tons, down 24%), still commands a global presence thanks to branding and bottling bulk imports.Greece, the world’s third-largest producer, accounts for about 8% of global supply. However, only 30% of Greek oil is bottled domestically, compared to 70% in Spain and nearly 100% in Italy.
The Branding Gap
Roughly half of Greece’s olive oil is exported, but only 5% of it is sold abroad under Greek labels. Most ends up in Italy, which alone absorbs about three-quarters of Greek exports. There, it is blended, bottled, and shipped worldwide as a premium Italian product—commanding a price at least 25% higher than what Greece receives.
This lack of branding explains why Greek exports sell for significantly less compared to Spanish and Italian oils, despite their quality often being equal or superior.
Case Study: The UK Market
Britain, where Mediterranean diets have surged in popularity, highlights Greece’s missed opportunities. In 2024, Greece ranked only fifth among olive oil suppliers to the UK, with a market share of 4.5% worth £20 million.
Spain dominated with 49.9% (£220.5m), followed by Italy at 19.3% (£85.5m). Strikingly, Germany (14.7%) and Belgium (7.1%) ranked ahead of Greece, despite having no olive groves—an indication of re-export and processing trade flows.
Why Greece Keeps Losing Out
By relying on bulk exports, Greece undermines both the visibility and the added value of its olive oil. Without a strong national brand, its product disappears behind Italian and Spanish labels, robbing Greek farmers of revenue and international recognition.
Until Greece invests in bottling, branding, and marketing its own olive oil, the story will remain the same: world-class quality, but second-class profits.
Dining and Cooking