North America 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 & Beverages, Pharmaceutical, Cosmetics & Personal Care, Aromatherapy, and Others), Distribution Channel (Store Based and Non Store Based) - Industry Trends and Forecast to 2029.
North America Olive Oil Market Analysis and Insights
Olive oil is extracted from olives and consists of healthy fatty acids such as oleic acid, palmitic acid, and linoleic acid. Olive oil is a type of 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 ingredients of vitamin D and K, Monounsaturated Fats (MUFs), 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, making it perfect for skin care and personal care applications.
Rising personal disposable income, growing consumption per capita and changing dietary style of the consumers across the globe are the major factors fostering the growth of olive oil market. Changing lifestyle and rising awareness about the health benefits of olive oil are some other factors acting as market growth determinants. Growing application of olive oil in personal/ skincare products and pharmaceutical drugs will also act as an important factor bolstering the market growth rate. Rising prevalence of obesity and other health problems owing to the use of conventional fatty oils will further create lucrative opportunities for the growth of olive oil market.
However, availability of low cost alternative oils will hamper the market growth rate. Also, fluctuations in the prices of olives will further restrain the market growth rate. Low production capacity of emerging economies will also pose a major challenge.
Data Bridge Market Research analyzes that the North America olive oil market will grow at a CAGR of 4.5% during the forecast period of 2022 to 2029.
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Million, Pricing in USD
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 & Beverages, Pharmaceutical, Cosmetics & Personal Care, Aromatherapy, and Others), Distribution Channel (Store Based and Non Store Based)
U.S., Canada, and Mexico
Market Players Covered
Cargill, Incorporated, Deoleo, Del Monte Foods, Inc, Gallo Worldwide, BORGES INTERNATIONAL GROUP, S.L.U., Avenida Rafael Ybarra, SOVENA, Aceites Sandúa, ΜΙΝΕRVΑ among others
Olive oil is extracted from the olives and consists of healthy fatty acids like oleic acid along with palmitic acid and linoleic acid. Olive oil is 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 ingredients of vitamin D and K, MUFs, 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 example- olive oil has moisturizing and exfoliating properties which makes it perfect for skincare and personal care applications.
North America Olive Oil Market Dynamics
- Changing dietary style of the consumers across the globe
Due to increase in incidences of a number of diseases, including diabetes, cardiovascular disease, and cancer, there is major change in the dietary style of the consumers across the globe. Thus, due to these growing numbers, the trend of maintaining overall health and wellness by shifting to healthier oil choices mainly drives 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 MUFs. 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 of 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 skincare. When used on the skin, olive oil removes dead skin cells and other impurities, and also cleanses, hydrates, and nourishes the hair. Olive oil is a natural source which can decrease acne by killing off the bacteria that causes the acne. At the same time, olive oil also moisturizes skin by locking in moisture and hydrate skin which is expected to increase demand of olive oil in personal/skincare products.
- Increasing use of olive oil in household and food service sector
The increase in olive oil demand for cooking in households is due to growing awareness regarding the good health benefits of olive oil as olive oil has the highest content of MUFs and contains antioxidants such as vitamins A, D, E, K and beta-carotene that helps in reducing bad cholesterol and prevents heart disease.
Increasing demand of aromatherapy
Aromatherapy is the practice of using essential oils like oregano oil, cinnamon bark oil, jasmine oil, and olive oil for therapeutic benefits. However, due to wide health benefits of olive oil, it is mostly used in aromatherapy which is increasing the demand for olive oil. Thus, increasing demand of aromatherapy is creating an opportunity for the growth of the North America olive oil market.
- Fluctuations in the prices of olive oil
The price of olive oil depends on various factors. One of the factors is commodities brokers around the world who buy and sell bulk quantities of their olive oils on a daily basis. Depending on the availability of olives, the prices will rise or fall.
For instance, at the end of an olive growing season, if it is discovered that disease has claimed a significant portion of the available olives, the supply of olives would fall, and the price would rise in response. On the other hand, if an olive crop yields far more healthy olives than was previously forecast, the cost of olives will drop to match which may restrain the demand of olive oil.
- Side effects of extra consumption of olive oil
Excessive use of olive oil can damage skin and boom the possibilities of acne. Olive oil is heavy in nature. It does not quickly absorb into pores and skin, and creates a thick layer at the skin, clogging the pores. For this reason, if you frequently follow it in your skin, it turns into an adhesive floor, trapping all of the dirt, dust, and sebum into it which can cause unwanted acne and pimples.
Several people show acute allergic reactions to olive oil. Olive oil can cause severe allergies, such as contact dermatitis, eczema, respiratory allergies, and so on.
This North America olive oil market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic, and localized market players, analyzing 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, and technological innovations in the market. To gain more information on the North America 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 the North America Olive Oil Market
The COVID-19 has affected the North America olive oil market to some extent as due to lockdown, the manufacturing process was halted as well as the demand from the end-users also decreased which had affected the market. Post-COVID-19, the demand for olive oil has increased due to change in purchasing pattern of consumers and gradual shift towards the increasing demand of olive oil among various end users such as food & beverages, fin fragrance, personal care, and others.
- In July 2020, Aceites Sandúa had launched two new premium category extra virgin olive oils, Capricho by Sandúa Ecológico Arbequina and Cosecha Seleccionada Sandúa Premium. This had helped the company to widen its product portfolio
North America Olive Oil Market Scope
North America olive oil market is segmented into five segments on the basis of 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.
- Extra Virgin Olive Oil
- Virgin Olive Oil
- Common Olive Oil
- Refined Olive Oil
- Lite/Light Olive Oil
- Pomace Olive Oil
Based on type, the North America olive oil 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.
- Fruity & Herby
- Fruity & Peppery
- Mild & Buttery
- Full-Bodied & Earthy
Based on flavor, the North America olive oil market is segmented into full-bodied & earthy, fruity & peppery, fruity & herby, and mild & buttery.
Based on extraction method, the North America olive oil market is segmented into first-press, cold-pressed, and cold-extracted.
- Food & Beverages
- Cosmetics & Personal Care
Based on application, the North America olive oil market is segmented into food & beverages, pharmaceutical, cosmetic & personal care, aromatherapy, and others.
- Store based
- Non-store based
Based on distribution channel, the North America olive oil market is segmented into store based and non-store based.
North America Olive Oil Market Regional Analysis/Insights
North America olive oil market is analyzed and market size insights and trends are provided based on type, flavor, extraction method, application, and distribution channel.
The regions covered in the North America olive oil market report are U.S., Canada, and Mexico.
The U.S. is dominating the North America olive oil market during the forecast period due to growing popularity of olive oil in various industries.
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 North America brands and their challenges faced due to high competition from local and domestic brands, and impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and North America Olive Oil Market Share Analysis
The North America 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 North America olive oil market.
Some of the major players operating in the North America olive oil market are Cargill, Incorporated, Deoleo, Del Monte Foods, Inc., Gallo Worldwide, BORGES INTERNATIONAL GROUP, S.L.U., Avenida Rafael Ybarra, SOVENA, Aceites Sandúa, ΜΙΝΕRVΑ among others.
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed 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 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, NA Vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
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