India Olive Oil Market Shipment Analysis
India Olive Oil Market registered a growth of 571.23% in value shipments in 2022 as compared to 2021 and a decrease of -2.33% CAGR in 2022 over a period of 2017. In Olive Oil Market India is becoming more competitive as the HHI index in 2022 was 2654 while in 2017 it was 6445. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in Olive Oil Market.
India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Olive Oil Market in 2022 was 1292.29 while in 2017 it was 590.24. Oman, Saudi Arabia, Iraq, Spain and Italy were among the top players of the market in 2022, where Oman acquired the largest market share of 32.95% with a shipment value of 90.25 million USD in 2022 Oman also offered the product below the average market price thus having a competitive advantage over others In 2017 Spain had the largest market share of 77.89% with the shipment value of 36.62 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although Spain offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the India Olive Oil Market in 2017.
