Global Olive Oil Market Segmentation, 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 and Earthy, Fruity and Peppery, Fruity and Herby, and Mild and 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 2031
Olive Oil Market Analysis
The olive oil market is witnessing significant growth due to advancements in production technologies and methods. Modern extraction techniques, such as cold pressing and supercritical CO2 extraction, have improved oil quality and yield. These methods not only enhance flavor but also preserve nutrients, appealing to health-conscious consumers.
In addition, innovations in refining processes, including the use of enzymatic treatments, have led to improved oil stability and shelf life. Advanced testing methods, such as gas chromatography, ensure higher purity and authenticity, addressing the rising concern over adulteration in the market.
The growth of e-commerce platforms is another critical factor driving the olive oil market. Consumers increasingly prefer purchasing premium, organic, and specialty oils online, enabling brands to reach broader audiences.
Moreover, the increasing awareness of the Mediterranean diet's health benefits and the rising demand for natural and organic food products further bolster market growth. According to market reports, the global olive oil market is projected to expand significantly in the coming years, driven by both traditional and innovative approaches in production and marketing strategies, aligning with evolving consumer preferences.
Olive Oil Market Size
The global olive oil market size was valued at USD 12.47 billion in 2023 and is projected to reach USD 18.01 billion by 2031, with a CAGR of 4.70% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, pricing analysis, brand share analysis, consumer survey, demography analysis, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.
Olive Oil Market Trends
“Growing Demand for Organic Olive Oil”
The olive oil market is witnessing a significant trend toward organic products as consumers increasingly prioritize health and sustainability. Organic olive oil is produced without synthetic pesticides or fertilizers, appealing to health-conscious buyers and those seeking eco-friendly options such as organic fertilizers. This trend is reflected in the rising sales of brands such as California Olive Ranch, which emphasizes sustainable practices and has seen a notable increase in organic product offerings. This shift indicates a broader movement towards clean eating and sustainable agricultural practices in the food industry. For instance, in July 2020, Aceites Sandúa expanded its product portfolio by introducing two new premium extra virgin olive oils: Capricho by Sandúa Ecológico Arbequina and Cosecha Seleccionada Sandúa Premium. This strategic launch aims to cater to the growing demand for high-quality olive oils among consumers who prioritize taste and health. The new offerings highlight the company’s commitment to quality and innovation in the premium olive oil segment, enhancing its market presence.
Report Scope and Olive Oil Market Segmentation
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Attributes
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Olive Oil Key Market Insights
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Segments Covered
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Key Market Players
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Cargill, Incorporated (U.S.), Deoleo (Spain), Del Monte Foods, Inc (U.S.), Gallo Worldwide (U.S.), BORGES INTERNATIONAL GROUP, S.L.U. (Spain), Avenida Rafael Ybarra (Spain), SOVENA (Portugal), Sun Grove Foods Inc. (U.S.), EU Olive Oil Ltd (U.K.), Artajo Oil (Spain), SALOV GROUP (Italy), Aceites Sandúa (Spain), Tucan Olive Oil Company LTD (Australia), Domenico Manca S.p.a. (Italy), Les huiles d'olive Lahmar (Tunisia), GRAMPIANS OLIVE CO. (Australia), Victorian Olive Groves (Australia), Gourmet Foods Inc. (U.S.), JAENCOOP GROUP (Spain), and ΜΙΝΕRVΑ (Greece)
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Market Opportunities
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Value Added Data Infosets
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, pricing analysis, brand share analysis, consumer survey, demography analysis, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework
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Olive Oil Market Definition
Olive oil is a liquid fat obtained from the fruit of the olive tree (Olea europaea). It is a staple in Mediterranean cuisine and renowned for its health benefits. Rich in monounsaturated fats, particularly oleic acid, olive oil is praised for its anti-inflammatory properties and heart-healthy effects. It is often used in salad dressings, cooking, and as a finishing oil for various dishes. The quality of olive oil varies, with extra virgin olive oil considered the highest grade, made from cold-pressed olives without the use of chemicals. Its distinct flavor and versatility make it a favorite in culinary practices worldwide.
Olive Oil Market Dynamics
Drivers
- Changing Dietary Style of the Consumers
The rising incidence of chronic diseases, such as diabetes, cardiovascular disease, and cancer, is significantly altering consumer dietary habits worldwide. As health awareness increases, many individuals are seeking healthier oil alternatives, leading to a surge in demand for products such as olive oil, avocado oil, and other heart-healthy fats. For instance, in February 2022, Curation Foods, Inc., under its Olive Oil & Vinegars brand, launched a seasonal offering called Olio Nuovo Extra Virgin Olive Oil. This freshly pressed oil is characterized by its robust and vibrant flavor, capturing the essence of the olive harvest. With its unique taste profile, Olio Nuovo enhances various dishes, making it an appealing choice for culinary enthusiasts seeking high-quality, flavorful olive oil.
- Rising Awareness about the Health Benefits of Olive Oil
Growing health consciousness is significantly driving the olive oil market, as consumers increasingly adopt healthier lifestyles. Rich in monounsaturated fats (MUFs), olive oil comprises about 14% saturated fat and 11% polyunsaturated fats, including omega-6 and omega-3 fatty acids. Research, such as studies published in the American Journal of Clinical Nutrition, highlights the cardiovascular benefits of MUFs, enhancing olive oil’s appeal. For instance, Mediterranean diets rich in olive oil have been linked to lower rates of heart disease. As more people recognize these health benefits, the demand for high-quality olive oil continues to surge, solidifying its market position.
Opportunities
- Increasing use of Olive Oil in Skincare Products and Pharmaceutical Drugs
The rising incorporation of olive oil in personal and womens and mens skincare products presents significant market opportunities. Its antioxidant and anti-inflammatory properties make it a sought-after ingredient in formulations targeting hydration and acne reduction. For instance, in June 2021, Pietro Coricelli, a prominent producer of Umbrian olive fruit oil and one of the largest olive oil brands globally, announced its partnership with IBM Food Trust. By leveraging blockchain technology, the company aims to enhance transparency and traceability in its extra-virgin olive oil supply chain. This initiative not only ensures product authenticity but also reinforces consumer trust in the quality and sourcing of their olive oil.
- Increasing Demand for Aromatherapy
The rising popularity of aromatherapy is significantly boosting the global olive oil market. Olive oil, known for its numerous health benefits, is increasingly utilized in aromatherapy practices alongside essential oils such as oregano and cinnamon bark. Its properties, such as anti-inflammatory effects and skin nourishment, enhance its appeal in wellness treatments. For instance, in January 2021, Del Monte Foods, Inc. launched one-liter pouches of olive fruit oil in India, aiming to make healthy edible oil more accessible and affordable for consumers. This strategic introduction caters to the growing demand for healthier cooking options in Indian households. By offering competitive pricing, Del Monte Foods encourages the adoption of olive oil, promoting better health choices while appealing to cost-conscious consumers in the region.
Restraints/Challenges
- Competition from Alternative Oils
Competition from alternative oils significantly hinders the olive oil market. The growing popularity of oils such as avocado and coconut has captured the attention of health-conscious consumers, who are often drawn to these options for their perceived nutritional benefits. These oils are frequently marketed as being rich in healthy fats, antioxidants, and other health-promoting properties, which can overshadow olive oil's benefits. In addition, the versatility and high smoke points of alternative oils make them attractive for various cooking methods, further diverting consumer interest. This shift in preference poses a significant challenge for olive oil producers, as they struggle to maintain market share amid rising competition.
- Issue of Adulteration and Fraud
The olive oil market is significantly hindered by the issue of adulteration and fraud, where inferior oils are blended with high-quality olive oil. This practice misleads consumers about the product's authenticity and quality, leading to a loss of trust in brands. The prevalence of fraudulent labeling and the difficulty in distinguishing genuine olive oil from adulterated versions create skepticism among consumers. In addition, the industry faces challenges in enforcing strict regulations and maintaining quality certifications, which can be complex and costly for producers. As a result, this undermines market integrity, negatively impacting sales and consumer confidence in olive oil products.
This 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, 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 market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Olive Oil Market Scope
The market is segmented on the basis of type, flavor, extraction method, application, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Extra Virgin Olive Oil
- Virgin Olive Oil
- Common Olive Oil
- Refined Olive Oil
- Lite/Light Olive Oil
- Pomace Olive Oil
Flavor
- Fruity and Herby
- Fruity and Peppery
- Mild and Buttery
- Full-Bodied and Earthy
Extraction Method
- Cold-Extracted
- Cold-Pressed
- First-Press
Application
- Food and Beverages
- Cosmetics and Personal Care
- Pharmaceutical
- Aromatherapy
- Others
Distribution Channel
- Store based
- Non store based
Olive Oil Market Regional Analysis
The market is analysed and market size insights and trends are provided by country, type, flavor, extraction method, application, and distribution channel as referenced above.
The countries covered in the market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, U.A.E, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)
Europe is expected to dominate the olive oil market in terms of market share and revenue during the forecast period. The region's success is attributed to the presence of major key players and a growing health awareness among consumers, driving the demand for high-quality olive oil products and supporting sustainable production practices.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Olive Oil Market Share
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Olive Oil Market Leaders Operating in the Market Are:
- Cargill, Incorporated (U.S.)
- Deoleo (Spain)
- Del Monte Foods, Inc (U.S.)
- Gallo Worldwide (U.S.)
- BORGES INTERNATIONAL GROUP, S.L.U. (Spain)
- Avenida Rafael Ybarra (Spain)
- SOVENA (Portugal)
- Sun Grove Foods Inc. (U.S.)
- EU Olive Oil Ltd (U.K.)
- Artajo Oil (Spain)
- SALOV GROUP (Italy)
- Aceites Sandúa (Spain)
- Tucan Olive Oil Company LTD (Australia)
- Domenico Manca S.p.a. (Italy)
- Les huiles d'olive Lahmar (Tunisia)
- GRAMPIANS OLIVE CO. (Australia)
- Victorian Olive Groves (Australia)
- Gourmet Foods Inc. (U.S.)
- JAENCOOP GROUP (Spain)
- ΜΙΝΕRVΑ (Greece)
Latest Developments in Olive Oil Market
- In July 2022, Genosa, a Spanish company, announced the launch of an innovative oil derived from olives, enriched with soluble phenol-rich hydroxytyrosol. This unique formulation is recognized for its numerous health benefits, including antioxidant properties and anti-inflammatory effects. The oil's versatility allows it to be utilized in various culinary applications, promoting healthier cooking and enhancing flavors in dishes, making it a valuable addition to health-conscious consumers' kitchens
- In June 2022, Certified Origins, a European company dedicated to delivering authentic Extra Virgin Olive Oils (Evoos), introduced a range of carbon-neutral Italian Evoos under its esteemed Bellucci brand. This initiative reflects the company’s commitment to sustainability and quality. Sourced exclusively from Tuscany, Apulia, and Sicily, these premium oils aim to provide consumers with healthy food options while promoting environmentally friendly practices in international markets
- In February 2022, Curation Foods, Inc., under its Olive Oil & Vinegars brand, launched a seasonal offering called Olio Nuovo Extra Virgin Olive Oil. This freshly pressed oil is characterized by its robust and vibrant flavor, capturing the essence of the olive harvest. With its unique taste profile, Olio Nuovo enhances various dishes, making it an appealing choice for culinary enthusiasts seeking high-quality, flavorful olive oil
- In June 2021, Pietro Coricelli, a prominent producer of Umbrian olive fruit oil and one of the largest olive oil brands globally, announced its partnership with IBM Food Trust. By leveraging blockchain technology, the company aims to enhance transparency and traceability in its extra-virgin olive oil supply chain. This initiative not only ensures product authenticity but also reinforces consumer trust in the quality and sourcing of their olive oil
- In January 2021, Del Monte Foods, Inc. launched one-liter pouches of olive fruit oil in India, aiming to make healthy edible oil more accessible and affordable for consumers. This strategic introduction caters to the growing demand for healthier cooking options in Indian households. By offering competitive pricing, Del Monte Foods encourages the adoption of olive oil, promoting better health choices while appealing to cost-conscious consumers in the region
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