Australia’s olive oil market is expanding rapidly, presenting strong opportunities for Greek exports as consumer demand rises and domestic production remains limited, according to a market study by the Economic and Commercial Affairs Office of the Greek Consulate in Sydney.
Annual domestic output stands at 20,000 to 25,000 tonnes, concentrated in Victoria, South Australia and Western Australia. These regions specialise in high-quality extra virgin olive oil, much of which is exported.
The market was valued at AUD 475 million in 2023 and is projected to grow at an average annual rate of 5.2% through 2028, the report said.
Olive oil is now a staple in two-thirds of Australian households, driven by perceptions of its health benefits. Consumers include gourmet cooks, tradition-oriented buyers and health-conscious shoppers. Prices for 500 ml bottles of extra virgin olive oil range from AUD 9 to AUD 16.
More than 95% of olive oil imports come from the European Union, led by Spain, followed by Italy and Greece. While Greek olive oil holds a smaller market share, it enjoys a strong reputation, particularly among Australia’s sizeable Greek diaspora and advocates of Mediterranean cuisine.
Distribution is supported by specialist importers, Greek restaurants and delicatessens, especially in cities such as Melbourne and Sydney. Greek products including olive oil, olives and wine are gaining recognition, supported by positive perceptions of the Mediterranean diet and the absence of import duties on olive oil.