Olive Oil Market

Global Market Study on Olive Oil: Increasing Consumption of Extra Virgin Olive Oil Fuelling Market Growth

Olive Oil Market Segmented By Extra Virgin Olive Oil, Virgin Olive Oil, Olive Pomace Oil, Refined Olive Oil in Organic and Conventional Nature Packed in Bulk and Retail

Introduction

Extra virgin olive oil is the least processed, unrefined, and high-quality olive oil that contains no chemicals and is rich in nutrients. It retains the original taste of olives and has lower levels of oleic acid; thus, regarded as one of the healthiest oils around.

Its nutritional composition includes vitamins D ingredient and K, monosaturated fats, and high levels of antioxidants. Extra virgin olive oil is also perceived to reduce the risk of cardiovascular disease, inflammation, and bad cholesterol.

The ongoing health consciousness trend promotes the use of extra virgin olive oil, significantly boosting the sales of products containing this super healthy oil. This is one of the main factors expanding the global olive oil market size.

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Companies

  • GALLO Worldwide, Lda
  • Cargill, Incorporated. 
  • Broges SA
  • Deoleo, S.A.
  • California Olive Ranch
  • Fieldfresh Foods Private Limited
  • Almazaras de la Subbetica
  • Paolo Bonomelli Boutique Olive Farm 
  • Conagra Brands
  •  Oro del desierto
  • Sucesores de Hermanos López SA
  • HACIENDA EL PALO SL
  • frantoio romano
  • Colavita USA, LLC
  • Azienda Agricola Leone Sabino
  • Knolive Oils
  • MONINI 
  • Hispasur Aceites S.L.
  • LIÁ Olive Oil
  • Nicola Pantaleo S.p.A..

Olive Oil Market Trends

Growing Application of Olive Oil in Cosmetic Industry: Olive oil is a versatile oil used in the foodservice industry for marinades, ranches & dressings, baking, shallow frying, and other purposes. It is also widely used in households for cooking, attributable to its beneficial health properties.

Manufacturers are also offering olive oil for different applications, such as olive oil spray for dressings. However, new growth prospects are emerging, as manufacturers of cosmetics are increasingly adopting olive oil for its antioxidant and anti-inflammatory properties, and as a replacement for chemical-added commercial cosmetic active ingredients. When used on the skin, olive oil removes dead skin cells and other impurities, and also cleanses, hydrates, and nourishes the hair.

  • In June 2019, ORS Olive Oil, an olive oil-based cosmetic manufacturer, launched olive oil grip gel ‘Fix It’ for wig and weave wearers. This product is sweat- and humidity-resistant, and formulated especially for applying on and styling wigs.

Innovative Packaging for Olive Oil Offerings: Increasing competition in the olive oil market space poses challenges for manufacturers to sustain their market position. Creative and innovative packaging plays a vital role in such a case, ensuring product differentiation and improving brand awareness and sales, in this intensely competitive landscape. Thus, manufacturers in the olive oil market are using smart and attractive packaging to boost sales. Innovative packaging mostly impacts the sales of high quality and premium olive oil products, as premium packaging represents a product of good quality.

  • In April 2018, Deoleo launched new packaging for its Bertolli brand. This updated packaging is expected to boost brand awareness, globally.olive oil market

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Regional Outlook of Olive Oil Market

Olives are mostly cultivated in the Mediterranean region in countries such as Spain, Greece, Italy, Turkey, Morocco, and Egypt. These countries are among the leading producers of olives, and olive farming is one of the important businesses across these countries.

Europe accounts for more than 60% share of global olive oil production, whereas, the Middle East & Africa accounts for more than 30% of the market share. As such, these regions are the most attractive for new entrants in the global olive oil market.

The markets in China and India are projected to experience high growth in East Asia and South Asia, respectively. Increasing popularity and high rate of adoption of healthy extra virgin olive oil in a wide range of applications is an important factor, on the back of which, these economies are expected to witness exponential growth rates in the global olive oil market. However, the presence of fraudulent products and adulteration of olive oil is also hindering the growth of the global olive oil market.

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COVID-19 Impact on Olive Oil Market

The widespread of COVID-19 disease has become the foremost obstacle for the growth of global economy, which, is consequently impacting the food & beverage industry, Disturbed supply-chain of major agricultural products is also among the major contributing factors for reduced food consumption. Olive oil is majorly used as a cooking oil, in marinades and dressings, and in the foodservice industry.

This could be a major setback for olive oil consumption, as restaurants and hotels have been shut due to the pandemic. The use of olive oil by food manufacturers has also reduced as the manufacturing of goods has also slowed down.

The use of olive oil in other industries such as cosmetics and personal care has also been affected during the second quarter of 2020. However, after the successful end of this pandemic, the market is expected to pick substantial pace in the future.

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Analysts’ Viewpoint

The global olive oil market has witnessed substantial growth over the past few years, and this growth rate is expected to increase by a significant rate throughout the forecast period of 2020-2030. South Asia is projected to experience the highest growth rate, followed by East Asia, owing to the high rate of adoption of olive oil and demand for premium olive oil from the foodservice industry.

Market participants are adopting various strategies to increase and expand their production capacities and improve global olive oil market share. Leading manufacturers are focusing on frequent product launches of varieties of olive oil and its products. They are also partnering with olive farmers for uninterrupted supply of high-quality olives for the production of premium olive oil. However, the limited supply of olives is impacting the production of olive oil and inflating its prices, which is somewhat restricting the market from reaching its full potential.

Key Segments of Global Olive Oil Market

PMR’s report on the global olive oil market offers information divided into six segments - product, nature, end use, packaging, distribution channel, and region.

Product

  • Extra Virgin Olive Oil
  • Virgin Olive Oil
  • Olive Pomace Oil
  • Refined Olive Oil

Nature

  • Organic
  • Conventional

End Use

  • Retail
  • Food Industry
    • Marinades
    • Ranches & Dressings
    • Baking
    • Shallow Frying
    • Others
  • Cosmetics
    • Skin Care
    • Hair Care
    • Toiletries
    • Others

Packaging

  • Bulk
  • Retail
    • Plastic Bottles
    • Glass Bottles
    • Pouches
    • Tin Cans

Distribution Channel

  • Business to Business
  • Business to Consumer
    • Hypermarkets/Supermarkets
    • Convenience Stores
    • Independent Small Grocery Stores
    • Food & Drink Specialty Stores
    • e-Retail


Region

 

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

Key Questions Answered in PMR’s Global Olive Oil Market Report

  • Which region will hold the highest market share in the global olive oil market during the forecast period?
  • Which regional market is experiencing the highest growth (CAGR)?
  • Which factors are impacting the global olive oil market?
  • What are the global trends impacting the olive oil market?
  • What strategies must emerging players adopt to capture opportunities in various regions in the olive oil market?
  • What is the market structure of the global olive oil market?

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