Olive oil is a healthy fatty acid that is taken from olives and contains oleic acid, palmitic acid, and linoleic acid, among others. It is a cooking oil with a high nutritional value. Olive oils are offered in a wide variety of categories due to their widespread popularity. Its nutritional profile includes vitamins D and K, monounsaturated fats, and strong antioxidant levels. Olive oils are utilized in a variety of applications in addition to being edible cooking oils. Olive oil, for instance, has hydrating and exfoliating characteristics, making it ideal for skin care and personal care.
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Data Bridge Market Research analyses that the olive oil market is expected to grow at a CAGR of 4.7% in the forecast period of 2022 to 2029 and is expected to reach USD 16,419.50 million by 2029. The global market is expected to be propelled by steady demand for vegetable oil from end-use industries throughout the forecast period. The food and beverage industry, the sweetness care and cosmetics sector, and thus the pharmaceutical industry all use vegetable oil. The continuing expansion of those sectors will almost certainly increase demand for vegetable oil.
Rising awareness about health benefits is expected to drive the market's growth rate during the forecast period.
Olive oil is gluten-free, making it a nutritious and delicious alternative to other edible oils. It's high in oleic acid and antioxidants, which aid in reducing inflammation and reducing the incidence of chronic and cardiac diseases. Olive oil also helps treat rheumatoid arthritis and osteoporosis, as well as the prevention of type 2 diabetes, stomach cancer, and stomach ulcers. The demand for olive oil is expected to rise as a result of all of the above reasons for the health benefits linked with its intake. In addition, rising demand for personal care and pharmaceutical goods, owing to its benefits in preventing hair loss and skin nourishment, is expected to propel the market forward.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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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 And Beverages, Pharmaceutical, Cosmetic And Personal Care, Aromatherapy, And Others), Distribution Channel (Store Based And Non-Store Based)
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Countries Covered
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U.S., Canada, Mexico, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific, Germany, Spain, France, Italy, U.K., Belgium, Netherlands, Switzerland, Russia, Turkey, Rest of Europe, Saudi Arabia, South Africa, Kuwait, U.A.E., Rest of Middle East and Africa.
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Market Players Covered
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Cargill, Incorporated (U.S.), Deoleo (Spain), Del Monte Foods, Inc. (U.S.), Gallo Worldwide (U.K.), BORGES INTERNATIONAL GROUP (Spain), S.L.U. (India), Avenida Rafael Ybarra (Spain), SOVENA (Thailand), 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 (Canada), Domenico Manca S.p.a. (Italy), Les huiles d'olive Lahmar (Canada), GRAMPIANS OLIVE CO. (Australia), Victorian Olive Groves (Australia), Gourmet Foods Inc. (Pakistan), JAENCOOP GROUP (Spain), ΜΙΝΕRVΑ (Greece)
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Data Pointers Covered in Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.
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Segment Analysis:
The olive oil market is segmented on the basis of type, flavor, extraction method, application, and distribution channel.
- On the basis of flavour, the global olive oil market is segmented into the full-bodied & earthy, fruity & peppery, fruity & herby, and mild & buttery. In 2022, the fruity & herby segment is expected to dominate the global olive oil market with a 34.56% market share due to the increased demand for seafood, increased awareness of the health benefits, and the change in the consumers' lifestyle as it mainly prefers seafood.
- On the basis of extraction method, the global olive oil market is segmented into the first-press, cold-pressed, and cold-extracted. In 2022, the cold-extracted segment is expected to dominate the global olive oil market with a 48.70% market share due to the growing demand for extra virgin olive oil, as it helps to prevent lifestyle-related disorders such as obesity.
In 2022, the cold-extracted segment of extraction method segment is anticipated to dominate the olive oil market.
In 2022, the cold-extracted segment of this market will dominate the olive oil market due to the growing demand for extra virgin olive oil, as it helps to prevent lifestyle-related disorders such as obesity. The cold-extracted segment is expected reach the highest CAGR of 5.3% in the forecast period of 2022-2029
- On the basis of application, the global olive oil market is segmented into food & beverages, pharmaceutical, cosmetics & personal care, aromatherapy, and others. In 2022, the food & beverages segment is expected to dominate the global olive oil market with a 31.24% market share owing to the growing consumers' inclination towards maintaining a healthy lifestyle has increased the usage of olive oil in various food products.
- On the basis of distribution channel, the global olive oil market is segmented into the store based and non store based. In 2022, the store based segment is expected to dominate the global olive oil market with a 51.93% market share owing to the strategic decisions by key players to support store-based retailing.
In 2022, the store based segment is projected to hold the largest share of distribution channel segment in the olive oil market.
In 2022, the store based segment is anticipated to hold the largest share of global olive oil market owing to the strategic decisions by key players to support store-based retailing. The store based segment is growing with a CAGR of 4.4% in the forecast period of 2022 to 2029.
Major Players
Data Bridge Market Research recognizes the following companies as the major olive oil market players in olive oil market are Cargill, Incorporated (U.S.), Deoleo (Spain), Del Monte Foods, Inc. (U.S.), Gallo Worldwide (U.K.), BORGES INTERNATIONAL GROUP (Spain), S.L.U. (India), Avenida Rafael Ybarra (Spain), SOVENA (Thailand), Sun Grove Foods Inc. (U.S.).
Market Development
- In July 2020, Sandua had announced the launch of new premium extra virgen olive oils - Capricho by Sandúa Ecológico Arbequina and Cosecha Seleccionada Sandúa Premium. Capricho by Sanda Eco Arbequina is a single variety manufactured from pure olive juice, farmed according to organic agricultural principles and certified by the European Union. Cosecha Seleccionada Sanda Premium is created using a meticulous selection of olives from several types, such as picual, hojiblanca, and arbequina, in various proportions, to produce a multivarietal coupage with great flavor and aroma.
- In February 2022, O Olive Oil & Vinegar announced the launch of its first batch of O Olio Nuovo Extra Virgin Olive Oil, a seasonal treat highly prized for its robust, fresh flavor. Olio Nuovo (Italian for "new oil") is a small-batch olive oil created from the initial harvest of O's family farms. It's a family tradition that's only available for a few months each fall. It's the newest addition to the firm's extensive extra virgin olive oil lineup.
- In March 2021, The Papadopoulos Group had announced the acquisition of Eteo Goods L.P. The acquisition of Eteo Goods delivers the purpose-driven vision of Papadopoulos Group to life through proof of concept, engagement to brand ethos, and unwavering commitment to quality. Eteo Goods' headquarters and operations will remain in Athens, Greece. The Papadopoulos Group Inc. is a collection of ultra-premium luxury items to bring to reality inventive, art-like concepts that combine luxury and exquisite quality to revolutionize markets around the world.
Regional Analysis
Geographically, the countries covered in the olive oil market report are U.S., Canada, Mexico, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific, Germany, Spain, France, Italy, U.K., Belgium, Netherlands, Switzerland, Russia, Turkey, Rest of Europe, Saudi Arabia, South Africa, Kuwait, U.A.E., Rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
Europe is the dominant region in olive oil market during the forecast period 2022 - 2029
Europe will continue to dominate the olive oil market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period due to the presence of major key players and increase in health awareness in this region. Europe controls the olive oil sector, and this oil is widely used in Mediterranean cuisine, due to the high production of olive fruit oil in this region. The region's primary contributors are Italy and Spain, both of which generate a lot of olive fruit oil.
Asia-Pacific is estimated to be the fastest growing region in olive oil market the forecast period 2022 - 2029
Asia-Pacific is anticipated to grow at the highest rate during the forecast period of 2022-2029 due to the changing consumption pattern in this region. Consumers have become more health conscious, preferring low-fat, healthier foods. Furthermore, per capita spending on healthy food has climbed dramatically in nations including China and India. China has also become a popular export destination for producers looking to expand their market.
COVID-19 Impact Analysis
COVID-19 had an impact on the market. This can be ascribed to severe disruptions in their respective manufacturing and supply-chain operations, resulting from multiple precautionary lockdowns and other limitations imposed by governments all over the world. The disruption in the supply chain caused by the COVID-19 outbreak has severely impacted the raw material supply chain. The usage of functional mushrooms causes the disruption in the supply chain of end-user industries in the production of olive oil. It was blamed on a shortage of resources and logistics, which resulted in limited access, delayed stock, and raw material deliveries. Changing customer purchasing patterns and increasing demand for olive oil among various end-users such as food and beverages, dietary supplements, pharmaceutical and medicinal, nutraceutical, personal care, and others have boosted demand for olive oil post-COVID.
