Global Olive Oil Market, By Type (Virgin Olive Oil, Pomace Olive Oil, Refined Olive Oil, Common Olive Oil, Extra Virgin Olive Oil, And Lite/Light Olive Oil), Flavor (Full-Bodied & Earthy, Fruity & Peppery, Fruity & Herby, And Mild & Buttery), Extraction Method (First-Press, Cold-Pressed And Cold-Extracted), Application (Food And Beverages, Pharmaceutical, Cosmetic And Personal Care, Aromatherapy, And Others), Distribution Channel (Store Based And Non-Store Based), Industry Trends and Forecast to 2029.
Global Olive Oil Market Analysis and Insights
Olive oil is an oil that is extracted from the olives and consists of healthy fatty acids such as oleic acid along with palmitic acid and linoleic acid. It is a cooking oil that offers great nutritional value. Owing to its popularity across the globe, a wide categorical range of olive oils is available in the market. Its nutritional composition includes vitamins D ingredient and K, monosaturated fats, and high levels of antioxidants. Apart from just using it as edible cooking oil, olive oils are also used in a wide range of applications. For instance, olive oil has moisturizing and exfoliating properties, which makes it perfect for skin care and personal care applications.
Increasing use of olive oil coupled with the growing application of olive oil in personal/ skincare products has surged its demand. Data Bridge Market Research analyses that the olive oil market will grow at a CAGR of 4.7% during the forecast period of 2022 to 2029.
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2020 - 2014)
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Quantitative Units
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Revenue in USD Million, Pricing in USD
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Segments Covered
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By Type (Virgin Olive Oil, Pomace Olive Oil, Refined Olive Oil, Common Olive Oil, Extra Virgin Olive Oil, And Lite/Light Olive Oil), Flavor (Full-Bodied & Earthy, Fruity & Peppery, Fruity & Herby, And Mild & Buttery), Extraction Method (First-Press, Cold-Pressed And Cold-Extracted), Application (Food And Beverages, Pharmaceutical, Cosmetic And Personal Care, Aromatherapy, And Others), Distribution Channel (Store Based And Non-Store Based)
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Countries Covered
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U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Poland, Denmark, Belgium, Netherlands, rest of Europe, Japan, Vietnam, China, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, New Zealand, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, Qatar, Oman, South Africa, Kuwait, Saudi Arabia, U.A.E., and rest of the Middle East and Africa
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Market Players Covered
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Cargill, Incorporated, Deoleo, Del Monte Foods, Inc, Gallo Worldwide, BORGES INTERNATIONAL GROUP, S.L.U., Avenida Rafael Ybarra, SOVENA, Sun Grove Foods Inc., EU Olive Oil Ltd, Artajo oil, SALOV GROUP, Aceites Sandúa, Tucan Olive Oil Company LTD, Domenico Manca S.p.a., Les huiles d'olive Lahmar, GRAMPIANS OLIVE CO., Victorian Olive Groves, Gourmet Foods Inc., JAENCOOP GROUP, ΜΙΝΕRVΑ, among others
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Global Olive Oil Market Dynamics
Drivers
- Changing Dietary Style of the Consumers Across the Globe
Due to the increase in incidences of a number of diseases, including diabetes, cardiovascular disease, and cancer, there is a major change in the dietary style of consumers across the globe. Thus, due to these growing numbers, the trend of maintaining overall health and wellness by shifting to healthier oil choices is expected to drive the market.
- Rising Awareness about the Health Benefits of Olive Oil
There is rising health awareness and adoption of healthier lifestyles. Olive oils have many health benefits. Olive oil is rich in healthy monounsaturated fats. About 14% of the oil is saturated fat, whereas 11% is polyunsaturated, such as omega-6 and omega-3 fatty acids. The recent recognition of the positive health effects of MUFs has increased the demand for olive oil.
- Increasing use of Olive Oil in Personal/ Skincare Products and Pharmaceutical Drugs
Olive oil has antioxidant and anti-inflammatory properties, which are beneficial for skin care. When used on the skin, olive oil removes dead skin cells and other impurities and also cleanses, hydrates, and nourishes the hair. Olive oil can decrease acne by killing off the bacteria that causes acne. At the same time, olive oil also moisturizes skin by locking in moisture and hydrating skin, which is expected to increase the demand for olive oil in personal/skincare products.
- Increasing Use of Olive oil in Household and Foodservice Sector
The increase in olive oil demand for cooking in households is due to growing awareness regarding the good health benefits of olive oil. Olive oil has the highest content of monounsaturated fats and contains antioxidants such as vitamins A, D, E, K, and beta-carotene, which help in reducing bad cholesterol and preventing heart disease.
Opportunities
- Increasing Demand for Aromatherapy
Aromatherapy is the practice of using essential oils such as oregano oil, cinnamon bark oil, jasmine oil, and olive oil for therapeutic benefit. However, due to the wide health benefits, olive oil is mostly used in aromatherapy which is increasing the demand for olive oil. Thus, the increasing demand for aromatherapy is creating an opportunity for the growth of the global olive oil market.
Restraints/Challenges
However, the availability of low-cost alternative oils may hamper the market growth rate. Also, fluctuations in the prices of olives will further restrain the market growth rate. The low production capacity of emerging economies may also pose a major challenge.
This global olive oil market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global olive oil market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
Post COVID-19 Impact on Global Olive Oil Market
The COVID-19 has affected the market to some extent due to lockdown. The manufacturing process was halted as well as the demand from the end-users also decreased, which has affected the market. Post-COVID, the demand for olive oil is increased due to changes in purchasing patterns of consumers and increasing the demand for olive oil among various end-users such as food & beverages, fine fragrance, personal care, and others.
Recent Development
- In July 2020, Aceites Sandúa launched two new premium category extra virgin olive oils, Capricho by Sandúa Ecológico Arbequina and Cosecha Seleccionada Sandúa Premium. This has helped the company to widen its product portfolio
Global Olive Oil Market Scope
The global olive oil market is segmented into type, flavor, extraction method, application, and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Type
- Extra Virgin Olive Oil
- Virgin Olive Oil
- Common Olive Oil
- Refined Olive Oil
- Lite/Light Olive Oil
- Pomace Olive Oil
Based on type, the market is segmented into virgin olive oil, pomace olive oil, refined olive oil, common olive oil, extra virgin olive oil, and lite/light olive oil.
Flavor
- Fruity & Herby
- Fruity & Peppery
- Mild & Buttery
- Full-Bodied & Earthy
Based on flavor, the olive oil market is segmented into full-bodied & earthy, fruity & peppery, fruity & herby, and mild & buttery.
Extraction Method
- Cold-Extracted
- Cold-Pressed
- First-Press
Based on the extraction method, the olive oil market is segmented into first-press, cold-pressed, and cold-extracted.
Application
- Food & Beverages
- Cosmetics & Personal Care
- Pharmaceutical
- Aromatherapy
- Others
Based on application, the olive oil market is segmented into food and beverages, pharmaceutical, cosmetic and personal care, aromatherapy, and others.
Distribution Channel
- Store based
- Non store based
Based on the distribution channel, the olive oil market is segmented into store based and non-store based.
Global Olive Oil Market Regional Analysis/Insights
The global olive oil market is analysed, and market size insights and trends are provided by country, type, flavor, extraction method, application, and distribution channel.
The countries covered in the olive oil market report are U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Poland, Denmark, Belgium, Netherlands, rest of Europe, Japan, Vietnam, China, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, New Zealand, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, Qatar, Oman, South Africa, Kuwait, Saudi Arabia, U.A.E., and rest of the Middle East and Africa.
Europe is expected to dominate the global olive oil in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the presence of major key players and an increase in health awareness in this region.
The country section of the report also provides individual market impacting factors and changes in regulations in the market that impact the current and future trends of the market. Data points, such as new and replacement sales, country demographics, disease epidemiology, and import-export tariffs, are some of the major pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of global brands and their challenges faced due to high competition from local and domestic brands, and the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Olive Oil Market Share Analysis
The global olive oil market competitive landscape provides details by the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, GCC presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus on the global olive oil market.
Some of the major players operating in the olive oil market are: Cargill, Incorporated, Deoleo, Del Monte Foods, Inc, Gallo Worldwide, BORGES INTERNATIONAL GROUP, S.L.U., Avenida Rafael Ybarra, SOVENA, Sun Grove Foods Inc., EU Olive Oil Ltd, Artajo oil, SALOV GROUP, Aceites Sandúa, Tucan Olive Oil Company LTD, Domenico Manca S.p.a., Les huiles d'olive Lahmar, GRAMPIANS OLIVE CO., Victorian Olive Groves, Gourmet Foods Inc., JAENCOOP GROUP, ΜΙΝΕRVΑ, among others.
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analysed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by the DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, GCCVsRegional, and Vendor Share Analysis. Please request an analyst call in case of further inquiry.
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