Spain Vegetable Oil Industry Growth Forecast USD 4.7 Billion in 2025 to USD 7.6 Billion by 2034

Market Overview

The Spain vegetable oil market size reached USD 4.7 Billion in 2025 and is expected to grow to USD 7.6 Billion by 2034, exhibiting a CAGR of 5.44% during the forecast period 2026-2034. The market growth is driven primarily by Spain's dominant production and cultural integration of olive oil, rising global demand for authentic oils, and increasing urban consumer preference for diverse, health-oriented oils. These factors collectively support the expansion of Spain's vegetable oil market.

Study Assumption Years

• Base Year: 2025
• Historical Year/Period: 2020-2025
• Forecast Year/Period: 2026-2034

Spain Vegetable Oil Market Key Takeaways

• The market size was USD 4.7 Billion in 2025.
• The market is projected to grow at a CAGR of 5.44% during 2026-2034.
• The market value is forecasted to reach USD 7.6 Billion by 2034.
• Spain is the leading global producer and exporter of olive oil, integral to the country's culinary traditions and dietary habits.
• Olive oil production reached 1.38 million metric tons in the 2024/25 crop year, up from 665,800 tons in 2022/23.
• Olive oil prices dropped significantly, with extra virgin olive oil falling from €8.99 to €3.93 per kilogram, increasing affordability.
• The growing demand for alternative oils such as sunflower, canola, grapeseed, and avocado oils adds diversification to the market.

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Market Growth Factors

Spain's increase in vegetable oil consumption is due to its growth as an olive oil producer and exporter. Spain's olive oil production and export has increased from 665.8 thousand metric tons in the 2022/23 crop year to 852.6 thousand tons in 2023/24 crop year and 1.38 million tons in 2024/25 crop year. In 2011, olive oil inventories reached 865,176 tons, and higher production caused prices to drop, from €8.99 to €3.93 for extra virgin olive oil. Prices will become accessible to a greater number of consumers, domestic consumption will increase, and Spain's position will be strengthened within the global market.

One of the main factors for the Spanish olive oil boom is the integration of olive oil into Spanish diets and Mediterranean diet, of which olive oil is an essential part for its flavor, antioxidant and cardiovascular features. Regional varieties including Picual, Arbequina and Hojiblanca have different, more defined flavors, preferred by consumers. Small and medium-sized producers are protected through PDO schemes and are well-placed to maintain and improve quality and maximize margins, earning increased brand loyalty amongst the older generations and increasingly health-conscious households.

Sales of alternative and functional oils increased, with sunflower oil sales in the first half of 2024 up by 25% to 179 million liters and olive oil down by 18% to 107 million liters. Canola, grapeseed and avocado oils are examples of substitute oils available on the market, touted as high in omega-3 and other functional components. These oils are available at health food and grocery stores. Foodservice operators need clarity about the oils used in fried food products. Producers are also interested in blended oils, which provide the benefits of different oils while avoiding their downsides, thus adding diversity to the vegetable oil market.
Market Segmentation

Oil Type Insights:

• Palm Oil
• Soybean Oil
• Sunflower Oil
• Canola Oil
• Coconut Oil
• Palm Kernel Oil

The report details the market segmentation based on oil types including palm oil, soybean oil, sunflower oil, canola oil, coconut oil, and palm kernel oil, reflecting the diverse oil base offerings in the Spain vegetable oil market.

Application Insights:

• Food Industry
• Biofuels
• Others

The Spain vegetable oil market is segmented by application, covering the food industry, biofuels, and other applications, indicating its broad utility across various sectors.

Regional Insights:

• Northern Spain
• Eastern Spain
• Southern Spain
• Central Spain

The market includes analyses of all major regional markets in Spain, providing insights into geographic demand and distribution.

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Regional Insights

Northern Spain, Eastern Spain, Southern Spain, and Central Spain are the primary regions covered in the report. The data shows strong regional segmentation; however, the report does not specify which region is dominant or provide specific market shares or CAGR by region.

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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