North America Olive Oil Market - Industry Trends and Forecast to 2030

North America Olive Oil Market Analysis and Size

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.

Data Bridge Market Research analyzes that the olive oil market which was USD 3,200.84 million in 2022, is expected  USD 4,622.08 million by 2030, and is expected to undergo a CAGR of 4.70% during the forecast period of 2023 to 2030. “Virgin olive oil” dominate the type segment of the Olive oil market owing to its rising popularity among consumers attributed to the growing awareness regarding their health benefits. Omega-3 and oleic acid present in virgin oil help to prevent lifestyle-related disorders such as obesity and cardiovascular diseases.

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, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Market Definition

The olive oil is a versatile and widely used culinary oil derived from the pressing of olives, the fruit of the olive tree. Renowned for its rich flavor and nutritional benefits, olive oil is a staple in Mediterranean cuisine. Available in various grades, such as extra virgin, virgin, and refined, it is prized for its distinctive taste, antioxidant properties, and potential health advantages. Used in cooking, salad dressings, and skincare, olive oil has become a symbol of both culinary excellence and holistic well-being.

Global Olive Oil Market Dynamics

Drivers

• Growing health consciousness and a preference for Mediterranean diets

Health-conscious consumers increasingly opt for olive oil due to its heart-healthy monounsaturated fats, antioxidants, and anti-inflammatory properties. The rising concern about heart diseases and healthier cooking oils drives the demand for olive oil. The Mediterranean diet, known for its numerous health benefits, emphasizes the use of olive oil. North American consumers are embracing this diet for its potential to reduce the risk of chronic diseases, including cardiovascular conditions, fueling the demand for olive oil.

Shoppers are becoming more discerning about product ingredients. Olive oil's natural and transparent nutritional profile aligns with the clean-label trend, contributing to its appeal among health-conscious consumers. Olive oil's association with these health and wellness trends positions it as a preferred cooking and dietary choice in North America. It caters to consumers seeking healthier lifestyles, which is a significant driver of its market growth.

• Increasing use of olive oil in skincare and wellness products diversifies its applications

The beauty and skincare industry is experiencing a paradigm shift towards natural and sustainable ingredients. Olive oil's rich profile of vitamins, antioxidants, and moisturizing properties makes it a sought-after component in skincare products. This driver is reinforced by consumers looking for chemical-free and eco-friendly alternatives. Olive oil's historical use in skincare dates back to ancient civilizations. Today, its potential in promoting skin health, hydration, and anti-aging benefits is a driving factor. As consumers seek solutions for youthful, radiant skin, olive oil's presence in skincare formulations gains popularity.

The incorporation of olive oil in skincare is bolstered by its alignment with the natural beauty movement, skin health consciousness, and the desire for age-defying products. This driver reflects the ongoing shift towards holistic and sustainable skincare solutions in North America.

Opportunity

• Opportunities for introducing innovative olive oil products with unique flavor profiles

The olive oil market in North America presents opportunities for product innovation in diverse formulations. Skincare companies can develop an array of products such as moisturizers, serums, cleansers, and even makeup infused with olive oil to cater to various consumer preferences and skin types. Customized formulations can target specific skincare concerns, enhancing the product range.

Product innovation in olive oil-based skincare products offers exciting opportunities, including formulation diversity, functional combinations, and sustainable packaging. These strategies respond to evolving consumer demands for personalized, effective, and environmentally conscious skincare solutions in the North American market.

Restraint/Challenge

• Olive oil production depends on climate conditions and seasonal variations

One limitation in incorporating olive oil into skincare products is the potential for skin sensitivity issues, primarily for individuals with specific allergies or skin conditions. Skincare brands must address this concern by conducting thorough patch tests and providing clear guidance on product suitability, potentially limiting their target audience. Another restraint is the natural shelf-life of olive oil. While it has excellent antioxidant properties, it can still oxidize over time, leading to a shorter shelf life for olive oil-based skincare products compared to those with synthetic preservatives. Brands must manage this limitation through proper formulation and packaging to ensure product freshness.

Addressing these product limitations is crucial for skincare companies using olive oil, as they must carefully manage sensitivities, shelf-life concerns, and the product's texture to ensure consumer satisfaction and safety.

This 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 olive oil market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

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
• In February 2022, Curation Foods, INc., under its brand Olive Oil & Vinegars, launched a batch of Olio Nuovo Extra Virgin Olive Oil, which is a seasonal oil that has a fresh and robust flavor

North America Olive Oil Market Scope

The olive oil market is segmented on the basis of type, flavor, extract 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 & Herby
• Fruity & Peppery
• Mild & Buttery
• Full-Bodied & Earthy

Extraction Method

• Cold-Extracted
• Cold-Pressed
• First-Press

Application

• Food & Beverages
• Cosmetics & Personal Care
• Pharmaceutical
• Aromatherapy
• Others

Distribution Channel

• Store based
• Non-store based

Global Olive Oil Market Regional Analysis/Insights

The olive oil market is analyzed and market size insights and trends are provided by country, type, flavor, extract method, application, and distribution channel referenced above.

The countries covered in the olive oil market report are U.S., Canada, and Mexico.

The U.S. is expected to dominate the market during the forecast period and also the fastest growing country in the region 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 regulation in the market domestically that impact the current and future trends of the market. Data points like downstream 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 North America brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Olive Oil Market Share Analysis

The olive oil market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America 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 the olive oil market.

Some of the major players operating in the olive oil 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)
• Aceites Sandúa (Spain)
• ΜΙΝΕRVΑ (Brazil)

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