Olive Oil Market Overview
By 2030, the olive oil market is anticipated to be worth USD 16.31 billion, expanding at a CAGR of 8.10% from 2022 to 2030.
Market Research Future Insights:
Olive oil is a type of fat made from Olea europaea fruit (olive tree). Olive oil is popular because it contains healthy fatty acids and has the ability to lower cholesterol levels in the body, thereby preventing heart diseases. Its exfoliating and moisturizing qualities allow it to be used in a variety of skincare and personal care products. During the forecast period, consistent demand for olive oil from end-use industries is projected to drive the global olive oil market.
The olive oil market has been divided into extra virgin, virgin, refined, and other categories based on kind. In the worldwide olive oil market, the extra virgin category is predicted to grow at the fastest rate and hold the top spot for the entire forecast period. Due to its low acidity of less than 1%, extra virgin olive oil is favoured by consumers who are concerned about their health. Additionally, refined oil is a mixture of processed oil and cold-pressed oil, whereas extra virgin olive oil is produced from cold-pressing and pure olives. This is a key factor driving the extra virgin segment's expansion in the global olive oil market. Due to the health advantages connected with, the same segment is anticipated to grow at the highest growth rate.
Organic and conventional olive oils are sold separately in different categories on the global market. Due to the widespread availability of conventional olive oil, the conventional category is anticipated to gain a significant share of the global olive oil market. A higher CAGR is anticipated for the organic segment during the forecast period, though, as a result of consumers' growing preference for organic olive oil.
Key Players:
Some of the global olive oil key market players are Salov S.p.A (Italy), Borges Branded Foods SLU (Spain), Grupo Ybarra Alimentación, SL (Spain), Sovena Group (Portugal), DEOLEO S.A.(Spain), Del Monte Pacific Limited (Singapore), The Unilever Group (UK), Cargill, Incorporated (US), Jindal Retail India Pvt. Ltd. (India), and GALLO Worldwide, Lda. (Portugal).
Market Segmentation:
The type, category, distribution method, and region-based segments of the worldwide olive oil market have been identified.
The olive oil market has been segmented into extra virgin, virgin, refined, and other types.
The organic and conventional olive oil markets have been divided into separate categories.
By distribution channel, the worldwide olive oil market has been divided into store-based and non-store-based segments. Supermarkets and hypermarkets, convenience stores, and other establishments make up the store-based segment. Due to the robust and extensive network of stores, the store-based segment is anticipated to generate higher revenue, with the supermarkets and hypermarkets sub-segment being the largest.
Regional Analysis:
North America, Europe, Asia-Pacific, and the Rest of the World are the regions into which the worldwide olive oil market has been divided.
Due to the region's extensive olive oil production, Europe is predicted to dominate the worldwide olive oil industry. Italy, Spain, and Portugal are some of the biggest producers of olive oil in the area.
Due to the areas' rising production and consumption of olive oil, the Asia-Pacific and RoW olive oil market is anticipated to expand quickly. Because of the region's consumers' growing preference for healthy food supplements and increased awareness of the health benefits of olive oil, North America is also anticipated to project a sizable market share.
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