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(EMAILWIRE.COM, July 11, 2024 ) Pune, 10, July 2024: The Olive Oil Market size is estimated at 14.19 billion USD in 2023 and is expected to reach 17.11 billion USD by 2032, growing at a CAGR of 2.10% during the forecast period (2024-2032).
Olive oil, a liquid fat obtained by pressing whole olives from the Olea europaea tree, has been a staple in Mediterranean cuisine since the 8th millennium BC. Widely used for cooking, frying, and as a salad dressing, it also features cosmetics, pharmaceuticals, soaps, and traditional oil lamps. The growing demand from the food industry, driven by the health benefits of olive oil, is significantly boosting market growth.
Compared to other cooking oils, olive oil stands out for its potent polyphenol compounds and high levels of monounsaturated fatty acids (MUFAs), especially in extra virgin varieties. These attributes contribute to its antioxidant and anti-inflammatory properties, which are linked to lower risks of cardiovascular disease and some cancers. As awareness of healthy diets increases, the market for olive oil is expected to continue its positive growth trajectory.
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Olive Oil Key Competitors include:
Borges International Group (Spain)
Deoleo S.A. (Spain)
EU Olive Oil (U.K.)
Artajo oil (Spain)
SALOV GROUP (Italy)
Aceites Sandúa (Spain)
Tucan Olive Oil Company (U.S.)
Domenico Manca S.p.a (Italy)
Minerva Foods (Greece)
Olinexo S.L. (Spain)
Nutrinveste SGPS (Portugal)
Curation Foods (U.S.), and Other Major Players
Olive Oil Market Dynamics
The olive oil market has seen significant growth driven by increasing awareness of its numerous health benefits. Rich in healthy monounsaturated fats, olive oil has been associated with reduced risks of stroke and heart disease, as highlighted by a large review involving 841,000 participants. Its heart health benefits include lowering blood pressure, protecting LDL cholesterol from oxidation, and improving blood vessel function. The COVID-19 pandemic spurred demand in emerging economies like India, as consumers sought healthier cooking oils to replicate gourmet experiences at home. Additionally, the rising interest in raw, natural, and cold-pressed oils has supported market growth. Beyond cooking, olive oil’s use in aromatherapy and household products has surged due to its therapeutic properties, further boosting its market demand. The global consumption of olive oil reached nearly 3.15 million metric tons in 2021/22, underscoring its growing popularity and multifaceted applications.
Olive Oil Market Regional Insights
Europe has dominated the Olive Oil Market in 2023 and is expected to continue its dominance over the forecast period. Europe is poised to dominate the olive oil market over the forecast period, driven by a growing consumer interest in healthy oils to mitigate lifestyle-related health issues. Spain, the largest producer and exporter of olive oil globally, produced 1.3 million tonnes in 2021, representing 42% of global production and 49% of exports. Europe also leads in olive oil imports, accounting for 86% of the global import value in 2021, despite a slight 4% decrease from 2020. Most of this trade occurs within Europe, with significant intra-European trade involving bulk olive oil for blending and processing across borders. European consumption stood at 1.46 million tonnes in 2021, with Italy and Spain being the largest consumers, each consuming about 500,000 tonnes annually, while Greece has the highest per capita consumption at approximately 12 kg per person per year.
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Olive Oil Market Segment Analysis
By Type
Virgin
Refined
Others
Based on the Type, the market is segmented into Virgin, Refined, and others. Virgin is expected to dominate the Olive Oil Market during the forecast period. Virgin olive oil, obtained directly from ripe fruit through mechanical methods without solvents, retains all its properties, including antioxidants like polyphenols and vitamin E. This high-quality oil is commonly used in salad dressings and cold dishes, preserving its strong flavor when not heated, and is also suitable for sautéing. Rich in both polar and non-polar antioxidant phenols and other bioactive components, virgin olive oil offers significant nutritional benefits.
By Application
Food And Beverages
Pharmaceutical
Cosmetic And Personal Care
Aromatherapy
Others
By Distribution Channel
Online
Supermarkets or Hypermarkets
Specialty Store
Others
By End-User
Food and Beverage
Personal Care
Pharmaceuticals
Others
GLOBAL OLIVE OIL MARKET BY REGION
NORTH AMERICA
USA
Canada
Mexico
EASTERN EUROPE
Russia
Bulgaria
The Czech Republic
Hungary
Poland
Romania
Rest Of Eastern Europe
WESTERN EUROPE
Germany
United Kingdom
France
The Netherlands
Italy
Spain
Rest Of Western Europe
ASIA PACIFIC
China
India
Japan
South Korea
Malaysia
Thailand
Vietnam
The Philippines
Australia
New-Zealand
Rest Of APAC
MIDDLE EAST & AFRICA
Turkey
Bahrain
Kuwait
Saudi Arabia
Qatar
UAE
Israel
South Africa
SOUTH AMERICA
Brazil
Argentina
Rest of South America
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Key questions answered in the Olive Oil Market report are:
Which market segment dominated the global Olive Oil market in 2023?
What are the current global trends in the Olive Oil market?
What future industry applications and trends are emerging in the Olive Oil market?
What growth strategies are companies adopting to expand their presence in the Olive Oil market?
Who are the leading companies in the Olive Oil market, and what are their product portfolios?
What are the primary challenges that the Olive Oil market may face in the future?
Which region had the largest share of the Olive Oil market in 2023?
How is the regulatory environment influencing the Olive Oil market?
Key Offerings:
Market Size, Share, Size & Forecast by Different Segments | 2024−2032
Olive Oil Market Dynamics Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Trend Analysis
Pestle Analysis
Porters Five Forces Analysis
Industry Value Chain Analysis
Ecosystem
Regulatory Landscape
Price Trend Analysis
Patent Analysis
Technology Evolution
Investment Pockets
Olive Oil Market Segmentation
Competitive Landscape Profiles of selected key players in a strategic perspective
Competitive landscape Competitive Benchmarking, Olive Oil Market Share by Manufacturer (2023), Industry BCG Matrix, Heat Map Analysis, Mergers & Acquisitions
Analyst Viewpoint and Conclusion
Introspective Market Research, a prominent Food and Beverages research firm, has released the following reports:
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