According to IMARC Group's latest research report, titled "Olive Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," offers a comprehensive analysis of the olive oil market analysis. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global olive oil market size reached US$ 14.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 20.9 Billion by 2032, exhibiting a growth rate (CAGR) of 4.02% during 2024-2032.
Olive Oil Market Trends:
The global market is majorly driven by the growing consumer awareness of its health benefits. With rising health consciousness and concerns over diet-related diseases, consumers are increasingly choosing olive oil for its high content of monounsaturated fats, antioxidants, and vitamins, which promote heart health and overall well-being. The popularity of Mediterranean cuisine and its integration into global culinary trends further propels market growth, as olive oil is a fundamental ingredient in dishes ranging from salads to pasta and beyond.
Moreover, consumers are increasingly seeking premium and authentic olive oil products, favoring extra virgin varieties known for their superior quality and rich flavor profiles. The influence of gourmet and specialty food trends also drives demand for unique and artisanal olive oil offerings. Additionally, the growth of e-commerce platforms facilitates easy access to a wide variety of olive oil products, catering to diverse consumer preferences and expanding market reach.
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Olive Oil Market Scope & Growth Analysis:
The olive oil market boasts substantial scope and growth opportunities, influenced by factors such as consumer preferences, health consciousness, culinary trends, and regional production dynamics. Moreover, culinary trends favoring Mediterranean and plant-based diets further propel the demand for olive oil. Olive oil's versatile flavor profile, ranging from delicate to robust, enhances a wide array of dishes, including salads, pasta, seafood, and baked goods. The growing popularity of gourmet cooking and artisanal food products also fuels demand for premium and specialty olive oils with distinct flavor profiles and production methods.
As per the market analysis, the olive oil market is characterized by diverse product offerings catering to various consumer preferences and market segments. Extra virgin olive oil (EVOO), characterized by its superior quality, low acidity, and distinct flavor profile, commands a significant share of the market due to its premium positioning and health benefits. Other variants, including virgin olive oil, refined olive oil, and olive pomace oil, cater to different culinary and industrial applications.
Competitive Landscape with Key Players:
- 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
Key Market Segmentation:
Type Insights:
- Virgin Olive Oil
- Refined Olive Oil
- Extra Virgin Olive Oil
- Olive Pomace Oil
- Others
Distribution Channel Insights:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
Application Insights:
- Food and Beverage
- Pharmaceuticals
- Cosmetics
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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- Strong Market Research Expertise
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