Olive Oil Market Overview, Manufacturing Cost Structure Analysis, Growth Opportunities & Restraints to 2029 | Report by Introspective Market Research
Market Overview:
The global market for Olive Oil estimated at USD 13.4 Billion in the year 2021, is anticipated to reach a revised size of USD 16.9 Billion by 2028, growing at a CAGR of 2.9% over the forecast period 2022-2028.
Olive oil is a liquid fat obtained by pressing whole olives (the fruit of Olea europaea family Oleaceae), a traditional tree crop of the Mediterranean Basin, and extracting the oil. It is commonly used in cooking, for frying foods, or as a salad dressing. It can also be found in some cosmetics, pharmaceuticals, soaps, and fuels for traditional oil lamps. Some religions use it for additional purposes as well. Along with wheat and grapes, the olive is one of the three staple food crops in Mediterranean cuisine. Olive trees have been grown around the Mediterranean since the 8th millennium BC. The growing demand from food industries is also driving the growth of the market.
The Report Will Include A Major Chapter
- Patent Analysis
- Regulatory Framework
- Technology Roadmap
- BCG Matrix
- Heat Map Analysis
- Price Trend Analysis
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Market Dynamics and Factors:
Increasing awareness about health benefits from olive oil is driving the olive oil market. Health advantages of olive oil abound. Healthy monounsaturated fats are abundant in olive oil. Saturated fat makes up roughly 14% of the oil, while polyunsaturated fats like omega-6 and omega-3 fatty acids make up 11% of it. A large review of studies in 841,000 people found that olive oil was the only source of monounsaturated fat associated with a reduced risk of stroke and heart disease. Extra virgin olive oil has numerous benefits for heart health. It promotes blood vessel health, decreases blood pressure, and guards against oxidation of “bad” LDL cholesterol particles.
Increasing use of olive oil in aromatherapy and households is expected to drive the olive oil market. The health benefits of olive oil make it an exceptionally desirable item to use for cooking. Olive oil, which is rich in polyphenols, amino acids, and good monounsaturated fats, can play a significant role in creating a balanced diet as well as in enhancing the flavor and depth of food. Olives grown in the Mediterranean region are used to press olive oil. It has additionally been applied topically as a demulcent and emollient in creams or ointments in the pharmaceutical industry as a vehicle for oily suspensions for injections. It was once employed as a laxative.
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Top Key Players Covered In The Olive Oil Market:
- 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 Report Highlight:
- By type, the Virgin segment is anticipated to lead the growth of the Olive Oil market in the forecasted timeframe. Virgin olive oil is obtained directly from the ripe fruit by mechanical procedures. It is the only consumed raw without the use of any solvents, so it keeps all its properties intact.
- By Application, the Food And Beverages segment is expected to have the highest share of the Olive Oil market over the projected period. Organic olive oil is considered to be a better substitute in food services as compared to other cooking oils present in the market, specifically for sauces and salad dressings.
- By Distribution Channel, the supermarket or Hypermarkets segment is set to develop at the highest CAGR during the forecasted timeframe. According to Juan Vilar Strategic Consultants, about 65 to 75 percent of olive oil for domestic use is sold in supermarkets and hypermarkets globally.
- By End-user, the Food & Beverages segment is expected to highest growth in the olive oil market. The growing awareness regarding the role of olive fruit oil in maintaining good health has remarkably increased the demand for various types of olive fruit oil in retail channels. The emerging trend of consuming minimally processed natural oils has surged the demand for cold-pressed virgin olive oils.
- The Europe region is expected to have the highest share of the Olive Oil market over the projected period. Customers’ growing interest in healthy oils as a way of avoiding lifestyle-related health problems that can result from their busy lifestyles is helping to propel the industry in Europe
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Key Industry Development:
In February 2022, Curation Foods, Inc. launched a batch of Olio Nuovo Extra Virgin Olive Oil, under its brand O Olive Oil & Vinegars, which is a seasonal oil that has a fresh and robust flavor.
In June 2021, Pietro Coricelli joined IBM Food Trust to use blockchain technology to trace its extra-virgin olive fruit oil which is an Umbrian olive fruit oil producer and one of the largest and most widely distributed olive fruit oil brands in the world.
Olive Oil Market Segmentation:
By Type
- Virgin
- Refined
- Others
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
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For this report, Introspective Market Research has segmented the Olive Oil Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
North America
- The U.S.
- Canada
- Mexico
Europe
- Germany
- UK
- France
- Italy
- Russia
- Spain
- Rest Of Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
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Scope of the Report:
The latest research on the Olive Oil market provides a comprehensive overview of the market for the years 2022 to 2028. It gives a comprehensive picture of the global Olive Oil industry, considering all significant industry trends, market dynamics, competitive landscape, and market analysis tools such as Porter’s five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Olive Oil market. Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their businesses. The study is written with a specific goal in mind to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.
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