Olive Oil Market
Olive Oil Market Forecasts to 2028 - Global Analysis By Source (Non Organic, Organic), Flavor (Fruity & Peppery, Fruity & Herby, Full-Bodied & Earthy, Mild & Buttery), Extraction Method (Cold-Extracted, First-Press, Cold-Pressed), and Others
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $3.77 BN |
|
Projected Year Value (2028) |
US $8.75 BN |
|
CAGR (2022 - 2028) |
5.28% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Olive Oil Market is accounted for $3.77 billion in 2022 and is expected to reach $8.75 billion by 2028 growing at a CAGR of 5.28% during the forecast period. Olive oil is a type of fat derived from the fruit of the Olea europaea (olive tree) that contains healthy fatty acids such as oleic acid, palmitic acid, and linoleic acid. Olive oil is widely used and widely available around the world. It is widely used for its capability to prevent heart disease by regulating cholesterol levels within the body. It also has moisturising and exfoliating properties, making it useful in a variety of skincare and personal care products. Olive oil can be used in a variety of applications, including dressing spray, cosmetics and personal care, as well as foods and medicines.
According to data from the International Olive Council (IOC), global olive oil output averaged 2.87 million tons between crop years 2005–2006 and 2019–2020, with 72 percent of that produced in the European Union (EU). Around 2 million tons of olive oil was produced in Spain, Italy, and Greece, accounting for 96 percent of all olive oil produced in the EU. According to the United Nations, World Economic Situation and Prospects 2019, in both 2017 and 2018, economic growth increased in more than half of the world's economies.
Market Dynamics:
Driver:
Changing Dietary Style of the Consumers
The rise in the prevalence of a variety of diseases, such as diabetes, cardiovascular disease, as well as cancer, has resulted in a significant shift in consumer dietary habits around the world. As a result of these rising numbers, the market is expected to be driven by the new fad of preserving overall health and well-being by switching to healthier oil options. As a result of these rising numbers, the market is expected to be driven by the trend of maintaining overall health and wellness by switching to healthier oil options.
Restraint:
High Cost of Olive Oil
Due to the high cost of olive oil, consumers are looking for low-cost alternatives with similar health benefits to olive oil, such as sunflower oil and coconut oil, which are gaining popularity among consumers. As a result, the high price of olive oil is highly probable to stifle market growth. Olive producers are investing in innovative technology to better retain essential nutrients in olives during processing. The retail industry has surpassed the industrial sector in terms of olive oil trade over the years. The market is predicted to suffer from limited growth due to the flow in demand for olive oil, differences in the price of olive oil make it highly susceptible to affordability and this is a difficulty to overcome for the market.
Opportunity:
Increasing Consumption Demand
In the existing economy, olive oil consumption might have increased in recent years as consumers become more conscious of the advantages of olive oil use and its impact on their health. Furthermore, the usage for packed olive oil, such as Figaro olive oil, olive oil, extra virgin olive oil, refined olive oil, and pomance oil, is expected to rise significantly in the near future. The growing demand for olive oil between many children, newborn infants, and adults around the world for health issues, hair problems, and the improved efficiency of healthy food and beverage products boosts olive oil consumption.
Threat:
Increasing demand of substitutes
The global olive oil market is being challenged by growing demands for other vegetable as well as edible cooking oils. Corn oil, palm oil, coconut oil, peanut oil, mustard oil, and sunflower oil are low-cost substitute products that challenge the global olive oil market's growth.
Covid-19 Impact
The COVID-19 pandemic had a wide-ranging impact on the global economy, including direct effects on demand and production supply chain disruption, as well as financial impact. The epidemic of the COVID-19 disease outbreak has resulted in a sharp drop in demand and sales of olive oil. Lockdowns in various countries have caused disruptions in trade activities, slowing the growth of this sector. However, increased concerns about immune function and general health have re-established a demand for natural oils, which is expected to last throughout and after the pandemic.
The Virgin Olive Oil segment is expected to be the largest during the forecast period
The Virgin Olive Oil segment is estimated to have a lucrative growth, due to demand from health-conscious consumers is expected to rise in the coming years because it provides various vitamins and minerals and therefore is efficacious against cardiovascular diseases, osteoporosis (bones), high blood pressure, diabetes, and Alzheimer's. Processed olive oil is a refined version of olive oil which has been considered for organoleptic defects. Consumer preference for processed form is low because it is typically tasteless, odourless, and colourless.
The Food Industry segment is expected to have the highest CAGR during the forecast period
The Food Industry segment is anticipated to witness the fastest CAGR growth during the forecast period. Consumers' desire to maintain a healthy lifestyle has expanded the use of olive oil as an effective approach in a variety of food products. To sustain the antioxidants as well as phenols levels of both the vegetable and legume, olive oil is also utilized for salad dressing. Because it is the primary source of good fats for diabetic consumers, the commodity has evolved into an important part of their diet.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the region's consumption pattern shifts. Consumers have become more health conscious, preferring low-fat, healthy foods. The growing popularity of functional foods and beverages in the region is contributing to an increase in demand for omega-3 fatty acid-fortified foods.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to increased imported and exported goods in the European olive oil industry, rising consumer requirement for organic as well as extra virgin olive oil, and an increase in the number of organised retailing outlets selling olive oil will all have a significant impact on the growth of the olive oil market in this region. The region's major producers and exporters are Spain, Greece, and Italy.
Key players in the market
Some of the key players profiled in the Olive Oil Market include Victorian Olive Groves, Deoleo S.A., California Olive Ranch, Adams Group Inc., Borges International Group SLU, Del Monte Foods, Olivier Pacific Ltd., Botticelli Foods, Modi Natural Ltd., Sovena Group, Odysea Ltd., Pompeian Inc. and Cargill.
Key Developments:
In Feb 2021, Pompeian, Inc. announced the addition of three new products to their olive oil and vinegar portfolios, aiming to eliminate aisle confusion and provide buyers with a product for every particular taste preference and cooking occasion.
In Sep 2020, Odysea Ltd., introduced a range of premium extra virgin olive oils known as “Kalamato PDO Extra Virgin Olive Oils”. This olive oil range is produced from polyphenol rich olives in Messinia.
Sources Covered:
• Non Organic
• Organic
• Other Sources
Flavors Covered:
• Fruity & Peppery
• Herby
• Full-Bodied & Earthy
• Mild & Buttery
• Other Flavors
Extraction Methods Covered:
• First-Press
• Cold-Pressed
• Other Extraction Methods
Packagings Covered:
• Bottles
• Tins
• Other Packagings
Types Covered:
• Refined Olive Oil
• Virgin Olive Oil
• Pomace Olive Oil
• Common Olive Oil
• Lite/Light Olive Oil
• Processed Olive Oil
• Other Types
Distribution Channels Covered:
• Online Channel
• Supermarket/Hypermarket
• Convenience Store
• Other Distribution Channels
Applications Covered:
• Cosmetic & Personal Care
• Soaps and Lubricants
• Pet Foods
• Pharmaceutical Industry
• Food Industry
• Aromatherapy
• Personal Care
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Olive Oil Market, By Source
5.1 Introduction
5.2 Non Organic
5.3 Organic
5.4 Other Sources
6 Global Olive Oil Market, By Flavor
6.1 Introduction
6.2 Fruity & Peppery
6.3 Fruity & Herby
6.4 Full-Bodied & Earthy
6.5 Mild & Buttery
6.6 Other Flavors
7 Global Olive Oil Market, By Extraction Method
7.1 Cold-Extracted
7.2 First-Press
7.3 Cold-Pressed
7.4 Other Extraction Methods
8 Global Olive Oil Market, By Packaging
8.1 Introduction
8.2 Bottles
8.3 Tins
8.4 Other Packagings
9 Global Olive Oil Market, By Type
9.1 Introduction
9.2 Refined Olive Oil
9.3 Virgin Olive Oil
9.3.1 Ordinary Virgin Olive Oil
9.3.2 Extra Virgin Olive Oil
9.3.3 Lampante Virgin Olive Oil
9.4 Pomace Olive Oil
9.4.1 Refined Olive Pomace Oil
9.4.2 Crude Olive Pomace Oil
9.5 Common Olive Oil
9.6 Lite/Light Olive Oil
9.9 Processed Olive Oil
9.8 Other Types
10 Global Olive Oil Market, By Distribution Channel
10.1 Introduction
10.2 Online Channel
10.3 Supermarket/Hypermarket
10.4 Convenience Store
10.5 Other Distribution Channels
11 Global Olive Oil Market, By Application
11.1 Introduction
11.2 Cosmetic & Personal Care
11.3 Soaps and Lubricants
11.4 Pet Foods
11.5 Pharmaceutical Industry
11.5.1 Soft Gelatin Capsules
11.5.2 Salves, Plasters and Enemas
11.5.3 Nose Sprays
11.5.4 Active Ingredients
11.6 Food Industry
11.6.1 Breakfast Cereals
11.6.2 Bakery
11.6.3 Confectionery
11.7 Aromatherapy
11.8 Personal Care
11.9 Other Applications
12 Global Olive Oil Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies
14 Company Profiling
14.1 Victorian Olive Groves
14.2 Deoleo S.A.
14.3 California Olive Ranch
14.4 Adams Group Inc.
14.5 Borges International Group SLU
14.6 Del Monte Foods
14.7 Olivier Pacific Ltd.
14.8 Botticelli Foods
14.9 Modi Natural Ltd.
14.10 Sovena Group
14.11 Odysea Ltd.
14.12 Pompeian, Inc.
14.13 Cargill
List of Tables
1 Global Olive Oil Market Outlook, By Region (2020-2028) ($MN)
2 Global Olive Oil Market Outlook, By Source (2020-2028) ($MN)
3 Global Olive Oil Market Outlook, By Non Organic (2020-2028) ($MN)
4 Global Olive Oil Market Outlook, By Organic (2020-2028) ($MN)
5 Global Olive Oil Market Outlook, By Other Sources (2020-2028) ($MN)
6 Global Olive Oil Market Outlook, By Flavor (2020-2028) ($MN)
7 Global Olive Oil Market Outlook, By Fruity & Peppery (2020-2028) ($MN)
8 Global Olive Oil Market Outlook, By Fruity & Herby (2020-2028) ($MN)
9 Global Olive Oil Market Outlook, By Full-Bodied & Earthy (2020-2028) ($MN)
10 Global Olive Oil Market Outlook, By Mild & Buttery (2020-2028) ($MN)
11 Global Olive Oil Market Outlook, By Other Flavors (2020-2028) ($MN)
12 Global Olive Oil Market Outlook, By Extraction Method (2020-2028) ($MN)
13 Global Olive Oil Market Outlook, By Cold-Extracted (2020-2028) ($MN)
14 Global Olive Oil Market Outlook, By First-Press (2020-2028) ($MN)
15 Global Olive Oil Market Outlook, By Cold-Pressed (2020-2028) ($MN)
16 Global Olive Oil Market Outlook, By Other Extraction Methods (2020-2028) ($MN)
17 Global Olive Oil Market Outlook, By Packaging (2020-2028) ($MN)
18 Global Olive Oil Market Outlook, By Bottles (2020-2028) ($MN)
19 Global Olive Oil Market Outlook, By Tins (2020-2028) ($MN)
20 Global Olive Oil Market Outlook, By Other Packagings (2020-2028) ($MN)
21 Global Olive Oil Market Outlook, By Type (2020-2028) ($MN)
22 Global Olive Oil Market Outlook, By Refined Olive Oil (2020-2028) ($MN)
23 Global Olive Oil Market Outlook, By Virgin Olive Oil (2020-2028) ($MN)
24 Global Olive Oil Market Outlook, By Ordinary Virgin Olive Oil (2020-2028) ($MN)
25 Global Olive Oil Market Outlook, By Extra Virgin Olive Oil (2020-2028) ($MN)
26 Global Olive Oil Market Outlook, By Lampante Virgin Olive Oil (2020-2028) ($MN)
27 Global Olive Oil Market Outlook, By Pomace Olive Oil (2020-2028) ($MN)
28 Global Olive Oil Market Outlook, By Refined Olive Pomace Oil (2020-2028) ($MN)
29 Global Olive Oil Market Outlook, By Crude Olive Pomace Oil (2020-2028) ($MN)
30 Global Olive Oil Market Outlook, By Common Olive Oil (2020-2028) ($MN)
31 Global Olive Oil Market Outlook, By Lite/Light Olive Oil (2020-2028) ($MN)
32 Global Olive Oil Market Outlook, By Processed Olive Oil (2020-2028) ($MN)
33 Global Olive Oil Market Outlook, By Other Types (2020-2028) ($MN)
34 Global Olive Oil Market Outlook, By Distribution Channel (2020-2028) ($MN)
35 Global Olive Oil Market Outlook, By Online Channel (2020-2028) ($MN)
36 Global Olive Oil Market Outlook, By Supermarket/Hypermarket (2020-2028) ($MN)
37 Global Olive Oil Market Outlook, By Convenience Store (2020-2028) ($MN)
38 Global Olive Oil Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
39 Global Olive Oil Market Outlook, By Application (2020-2028) ($MN)
40 Global Olive Oil Market Outlook, By Cosmetic & Personal Care (2020-2028) ($MN)
41 Global Olive Oil Market Outlook, By Soaps and Lubricants (2020-2028) ($MN)
42 Global Olive Oil Market Outlook, By Pet Foods (2020-2028) ($MN)
43 Global Olive Oil Market Outlook, By Pharmaceutical Industry (2020-2028) ($MN)
44 Global Olive Oil Market Outlook, By Soft Gelatin Capsules (2020-2028) ($MN)
45 Global Olive Oil Market Outlook, By Salves, Plasters and Enemas (2020-2028) ($MN)
46 Global Olive Oil Market Outlook, By Nose Sprays (2020-2028) ($MN)
47 Global Olive Oil Market Outlook, By Active Ingredients (2020-2028) ($MN)
48 Global Olive Oil Market Outlook, By Food Industry (2020-2028) ($MN)
49 Global Olive Oil Market Outlook, By Breakfast Cereals (2020-2028) ($MN)
50 Global Olive Oil Market Outlook, By Bakery (2020-2028) ($MN)
51 Global Olive Oil Market Outlook, By Confectionery (2020-2028) ($MN)
52 Global Olive Oil Market Outlook, By Aromatherapy (2020-2028) ($MN)
53 Global Olive Oil Market Outlook, By Personal Care (2020-2028) ($MN)
54 Global Olive Oil Market Outlook, By Other Applications (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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