Deoleo Declares End to Olive Oil Volatility as U.S. Sales Surge on "Squeeze Bottle" Innovation

Deoleo, the Spanish giant behind household names like Bertolli and Carbonell, has announced that the era of unprecedented volatility in the olive oil market is officially over. After a tumultuous three-year period marked by severe droughts and record-high prices, the company reports that market conditions have stabilized, paving the way for a recovery in global demand, particularly in the United States.

“The highly complex market cycle experienced between 2022 and 2024, which had a severe yet temporary impact on the industry, is now definitively behind us,” Deoleo CEO Cristóbal Valdés told CNBC in an email statement.

From Crisis to Stability: The Role of Rain

The stabilization comes as a relief to an industry that faced one of its most challenging periods in history from 2022 to 2024. During this window, severe droughts and searing heatwaves across southern Europe, particularly in Spain, Italy, and Greece, decimated olive harvests. The resulting supply shock sent wholesale prices soaring, with extra virgin olive oil (EVOO) hitting a record high of 9.3 euros per kilogram in January 2024.

However, recent weather patterns have turned the tide. Favorable rainfall across major producing nations has led to a robust global yield for the upcoming harvest, helping to consolidate a more balanced supply chain. According to the European Commission’s latest weekly data, EVOO prices in Spain have steadily declined to approximately 3.9 euros ($4.47) per kilogram, less than half of their peak levels.

“This supply stabilization provides greater predictability across the entire value chain and allows us to anticipate a more stable pricing environment,” Valdés said. “This, in turn, is driving a recovery in global household demand.”

The U.S. Market: A Surprising Catalyst

While supply-side improvements were expected to cool prices, Deoleo highlighted a surprising driver of growth in the United States: packaging innovation.

Valdés revealed that the number of olive oil-purchasing households in the U.S. has consistently increased across all income brackets. While health consciousness and the popularity of the Mediterranean diet play a role, the company credits a specific product redesign for accelerating adoption among younger consumers and first-time buyers.

“Regarding emerging trends, I believe the primary market driver is innovation tailored to modern culinary habits, especially for younger consumers and those discovering the benefits of olive oil for the first time,” Valdés explained.

The standout success story is the rise of functional, value-added packaging, specifically squeeze bottles. Deoleo’s Bertolli “Dress and Drizzle” bottle, designed for easy pouring and drizzling without the mess of traditional glass containers, is now driving 40% of the entire category’s growth in the U.S. market. This shift underscores a broader trend where convenience and usability are becoming just as important as product quality in driving consumer choices.

Lingering Concerns: Climate Change and Water Scarcity

Despite the current optimism, analysts remain cautious about the long-term stability of the olive oil sector. Issues such as climate change, water scarcity, and increasing pressure from pests and diseases continue to pose significant risks to future harvests.

Spain, which produces roughly half of the world’s olive oil, remains vulnerable to extreme weather events. While recent rains have been welcome, the frequency of droughts in the Mediterranean basin suggests that volatility could return if climate patterns shift again. Furthermore, the growing demand for water in other sectors, including technology and agriculture, raises concerns about resource competition in some of Europe’s driest regions.

Nevertheless, for now, Deoleo is capitalizing on the reprieve. With prices moderating and supply stabilizing, the company is focused on expanding its market share through innovation and brand strength. As Valdés noted, the goal is no longer just survival, but growth, leveraging stable conditions to introduce more consumers to the benefits of olive oil, one squeeze bottle at a time.

Looking Ahead

As the 2026 harvest season approaches, all eyes will be on weather forecasts in the Mediterranean. For Deoleo, the immediate future looks bright, with a stabilized supply chain allowing for more predictable pricing and strategic planning. For consumers, the message is clear: the days of paying premium prices for "liquid gold" may be easing, making it easier than ever to incorporate this healthy staple into daily cooking.

Whether through traditional glass bottles or innovative squeeze formats, olive oil is reclaiming its place in kitchens worldwide, and Deoleo is leading the charge.