A recent study by ICEX Spain Export and Investment defines Switzerland as one of the countries with the highest expected growth in olive oil consumption in the coming years. ICEX is a public body under the Ministry of Industry, Trade and Tourism, which regularly researches the state of international markets.
In its report from last December, which can be downloaded at this link, it explains that the Swiss country will increase its demand for olive oil by up to 18% in quantity and value until 2024, and that there are three factors driving this interest: the foodie trend, the healthy properties of the product and the high per capita income of its citizens, one of the highest in Europe.
As we have explained before, our family has very strong ties with Switzerland, either because we (he Ralda brothers) grew up there, and because Alfredo, the eldest brother, is still living with his family in Geneva. In fact, the idea for the Ralda&Friends project was born in Switzerland and we have the largest number of “padrinos” there as well. So we could not agree more with (and at the same time be happy about) the good forecasts of the ICEX report.
However, the growing appreciation of our Swiss friends does not necessarily mean that we have all the facilities. Firstly because sunflower oil is still the main oil consumed there (32%), followed by rapeseed (29%) and olive oil (15%). However, in the last 15 years, the market share of olive oil has doubled from almost 8% to more than 15%.
On the other hand, within olive oil consumption, the supply is led by the Italian product which, for geographical reasons, is the closest. Italy supplies 50% of olive oil (and 57% of the product’s turnover there). Spain follows with 30% of the volume and 22% of the value. Greece is a distant third, with 10% of volume and 12% of value.
Competition with other oils and other countries, therefore, means that the task is many and continuous. The good news is that the Swiss are predicting a growing interest in olive oil because of its natural properties, the cultural and gastronomic values it conveys and because it is still considered a premium and highly desirable product.
Ralda&Friends continues to take a piece of our Mediterranean culture around the world, and we are proud to do so to countries that we love and that love our product so much!
Alfredo & Pierre RALDA