THEOlive oil is the category of oils best-selling in Sweden, despite the existence of local alternatives such as rapeseed oil. Although the latter has gained popularity in the Swedish market, olive oil continues to be the predominant choice among consumers, recording an increase in sales in recent years, according to a study conducted by ICEX Spain Export and Investment .
The main country that meets the demand for olive oil in this market is Italy, with a market share of 50% in value and 54% in volume; they follow the Spain, with a market share of 28% in both value and volume, and the Greece, with 14% by value and 12% by volume.
According to ICEX, Over the next five years, a gradual growth in demand for olive oil is expected, with an increase of 17% in value and 9,2% in volume, due to growing trend towards healthy eating. Given this demand, in the opinion of the Iberian institute it will be essential to stand out to gain a foothold among consumers: the main trends point towards the premium segment and the variety of flavors as differentiation strategies.
As regards the distribution of olive oil in Sweden, large-scale distribution and specialized shops dominate. There is a great concentration and centralization that characterizes the olive oil sector in Sweden, as well as a strong bond and close relationship that importers and retailers maintain with suppliers.
The most common way to enter the olive oil market in Sweden is through direct export via an importer or large distributor, as it offers greater stability, growth opportunities and possibilities for consolidation in the market, according to the study, who adds that these factors play a fundamental role in the entire distribution chain.
It should also be highlighted that in Sweden there is also a growing demand for locally produced rapeseed oil, which has become the main substitute for olive oil, together with other edible oils. In this sense, the report highlights the Swedish consumer's preference for so-called "km 0" products, i.e. those produced locally due to their lower environmental impact.
ICEX emphasizes that olive oil does not require any adaptation to the market, but stresses that it is important to take into account regulations relating to the packaging and labeling of the product. These regulations require that the allergens present, ingredients and contents are specified correctly in the official language of the country, which means they must be translated into Swedish.
Likewise, consumers are increasingly demanding and have a strong propensity to purchase natural, high-quality products. Consequently, any approach that strengthens this direction will be more receptive in the Swedish market and will achieve a stronger position.
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