Olive Oil Market Insight

Olive Oil Market Size is anticipated to be worth USD 16.31 billion By 2030, expanding at a CAGR of 8.10% from 2022 to 2030. Olive oil is obtained by crushed and processed from olive fruits utilizing high technologies such as hydrolysis and cold-press techniques. The nutritional value of olive oil and the taste and flavor that it adds to the dishes are considered the major drivers of the olive oil market. The increasing utilization in the applications like cooking, medicines, cosmetics, and significant others are propelling the overall growth of the olive oil market. Moreover, the current market players are focusing on R&D and keep launching new flavors and bringing in better quality with advanced technologies.

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Inclination towards personal care products due to emphasis on external appearance and awareness on social media is anticipated to bode well for the global market growth. Rising purchasing power of consumers and rise of the middle class has evoked the stocking of such products in supermarkets and hypermarkets. Rising consumption of beauty and cosmetic products can open up growth opportunities in the olive oil market.

Competitive Outlook

SALOV S.P.A, SOVENA Group, the Unilever Group, Borges Branded Foods SLU, DEOLEO S.A., Del Monte Pacific Limited, Grupo Ybarra ALIMENTACIÓN, Cargill, Incorporated, Jindal Retail India PVT. Ltd. And GALLO Worldwide Others are prime players in the Global Olive Oil Market.

These players are focused on launching new olive oil infused products for attracting customers and boosting sales of their companies.

Segmentation Analysis

Global Olive Oil Market is segmented by Type, Category and Distribution Channel. By type, it is segmented into refined, virgin, extra virgin, and others. The extra virgin oil segment can continue to take the lead till 2023 due to being preferred by health-conscious consumers and containing less than 1% acidity. The manufacture of the product via the blend of processed and cold-processed oils is a vital growth driver of the segment. On the contrary, the virgin segment is predicted to exhibit a healthy growth rate

By category, it is segmented into organic and conventional. The conventional segment is expected to garner a higher market share due to higher availability of the product. On the other hand, organically derived oil can register a massive growth rate due to rising inclination of customers.

By distribution channel, it is segmented into store-based and non-store-based. The store-based segment is assumed to accrue higher market share due to the strong distribution network of supermarket and hypermarket chains.

Regional Analysis

Regionally, Global Olive Oil Market entails North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).

Europe is presumed to be the leading region of the market throughout the forecast period due to presence of several players producing the product and high consumer awareness levels. The use of the product in the treatment of Alzheimer’s, heart disease, and diabetes can work favorably for the market. Furthermore, the inclusion of the oil in several Mediterranean cuisines can bolster the market demand over the assessment period.

North America can capture a significant portion of the global market due to its use in cosmetics, cooking, and medicine. The preference of olive oil due to its nutritious content and preference for healthy meals can drive the regional market growth. Recommendations of olive oil by culinary experts and celebrity chefs advocating its benefits can drive the sales of the product off the shelf.

On the other hand, APAC can register a speedy growth rate during the forecast timespan due to inclination of customers towards healthy products and rise in health-consciousness. India can contribute greatly due to its triumvirate benefits for skin, hair, and beauty. Massive application of olive oil in pharmaceuticals, personal care, foods, etc. can fuel the regional market growth.

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