The global olive oil market size reached US$ 13.84 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.28 Billion by 2028, exhibiting a growth rate (CAGR) of 4.60% during 2023-2028. The growing health consciousness among consumers, escalating product demand from the pharmaceuticals and aromatherapy sectors, and increasing applications of organic olive oil represent some of the key factors driving the market.
Olive oil is an edible oil derived from the fleshy part of the ripened fruit of the olive tree, Olea europaea. It usually appears as a clear yellow to golden liquid with a light-tasting, neutral flavor. It contains vitamins D and K, antioxidants like polyphenols, and monounsaturated fatty acids that are believed to help lower cholesterol levels and have anti-inflammatory effects. It is commonly available in the market in different variants, including extra virgin, virgin, pure, and refined. Pure olive oil is widely used for culinary purposes and preserving food products, especially canned fish. It is also employed for wool combing in the textile industry and medicinal purposes in the pharmaceutical industry. In addition, olive oil is utilized as a lubricant and in manufacturing toilet preparations, cosmetics, and high-quality castile soap.
Olive Oil Market Trends:
Regular consumption of olive oil is associated with numerous health benefits, such as reducing the risk of cardiovascular diseases and type 2 diabetes mellitus, regulating blood pressure levels, preventing Alzheimer’s disease and dementia, and promoting the production of peptides that support healthy digestion and facilitate nutrient absorption. Consequently, the rising health consciousness among the masses due to the surging incidences of chronic diseases represents the primary factor driving the market growth. Additionally, there is a rise in the use of olive oil in cooking, as a salad dressing and dip for bread, and for drizzling on pasta. In line with this, the increasing adoption of olive oil in manufacturing dietary supplements and pharmaceuticals has augmented product demand. Besides this, since organic olive oil acts as a natural moisturizer, it is gaining immense popularity as an ideal alternative to abrasive, chemical-laden cleansers and lotions. As a result, the growing usage of olive oil in formulating cosmetics and skin care products owing to the presence of polyphenols that help enhance skin appearance and texture has accelerated product adoption rates. Furthermore, there has been a surge in demand for therapeutic essential oils, such as organic extra virgin olive oil, in aromatherapy. Along with this, the rising awareness about the medicinal properties of extra virgin olive oil, such as improving circulation and lymphatic drainage and reducing stress, coupled with the expanding working population with stressful lifestyles, has catalyzed market growth. Other factors, including the increasing consumer willingness to try new exotic dishes, shifting inclination toward healthy lifestyles, changing dietary preferences, and easy product availability via online and offline channels, are also propelling the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global olive oil market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on type, distribution channel, and application.
- Virgin Olive Oil
- Refined Olive Oil
- Extra Virgin Olive Oil
- Olive Pomace Oil
The report has provided a detailed breakup and analysis of the olive oil market based on the type. This includes virgin olive oil, refined olive oil, extra virgin olive oil, olive pomace oil, and others. According to the report, virgin olive oil represented the largest segment.
Distribution Channel Insights:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
A detailed breakup and analysis of the olive oil market based on the distribution channel has also been provided in the report. This includes supermarkets and hypermarkets, convenience stores, online stores, and others. According to the report, supermarkets and hypermarkets accounted for the largest market share.
- Food and Beverage
The report has provided a detailed breakup and analysis of the olive oil market based on the application. This includes food and beverage, pharmaceuticals, cosmetics, and others. According to the report, food and beverage represented the largest segment.
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe was the largest market for olive oil. Some of the factors driving the Europe olive oil market included the rising production and consumption of organic olive oil in the region, increasing consumer preferences for healthier foods and the Mediterranean diet, rapid expansion in the food and beverage industry, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global olive oil market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Artajo Oil, Borges International Group, S.L.U., California Olive Ranch Inc., Cargill Incorporated, Colavita SpA, Conagra Brands Inc., Del Monte Foods Inc. (Del Monte Pacific Ltd.), Deoleo, Domenico Manca S.p.a., EU Olive Oil Ltd., Gallo Worldwide, Gruppo Salov, Sovena Group, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
||Virgin Olive Oil, Refined Olive Oil, Extra Virgin Olive Oil, Olive Pomace Oil, Others
|Distribution Channels Covered
||Supermarkets and Hypermarkets, Convenience Stores, Online Stores, Others
||Food and Beverage, Pharmaceuticals, Cosmetics, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Artajo Oil, Borges International Group, S.L.U., California Olive Ranch Inc., Cargill Incorporated, Colavita SpA, Conagra Brands Inc., Del Monte Foods Inc. (Del Monte Pacific Ltd.), Deoleo, Domenico Manca S.p.a., EU Olive Oil Ltd., Gallo Worldwide, Gruppo Salov, Sovena Group, etc.
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Key Questions Answered in This Report:
- How has the global olive oil market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global olive oil market?
- What is the impact of each driver, restraint, and opportunity on the global olive oil market?
- What are the key regional markets?
- Which countries represent the most attractive olive oil market?
- What is the breakup of the market based on the type?
- Which is the most attractive type in the olive oil market?
- What is the breakup of the market based on the distribution channel?
- Which is the most attractive distribution channel in the olive oil market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the olive oil market?
- What is the competitive structure of the global olive oil market?
- Who are the key players/companies in the global olive oil market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the olive oil market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global olive oil market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the olive oil industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.