Olive Oil Market Growth, Trends, and Analysis by 2031

The olive oil market is expected to register a CAGR of 5% during 2023–2031. The increasing incorporation of nutrient-rich oils in diets to reduce the risk of certain health conditions is likely to remain a key trend in the market.

Olive Oil Market Analysis:

• The market is witnessing strong growth primarily owing to the rising demand for olive fruit oil in food service as well as the retail sector.
• Moreover, the demand for exotic cuisines is also anticipated to drive the popularity of Olea European fruit oil in several parts of the world.
• Olea European fruit oil is essential to a Mediterranean diet due to its several health benefits. The awareness about these health benefits, which are attributed to its omega-3 fatty acid content, is expected to surge its demand in the years to come.
• The demand for this oil is also rising owing to its utilization as an ingredient in manufacturing dietary supplements and pharmaceuticals.

Olive Oil Market Overview

• Olive oil is obtained from olive fruit and is available as virgin olive oil, extra virgin olive oil, light olive oil, olive pomace oil, and refined olive oil.
• Extra virgin olive oil is used for food, body care, and other products. It is a multipurpose liquid, and, hence, it is used by the majority of the population worldwide.
• This oil is used in cooking food, baked products, and in salad dressing. Also, extra virgin olive oil is rich in antioxidants and monounsaturated fats, and hence, this oil has a light flavor.
• People who are health conscious prefer cooking in olive oil due to its health advantages. Extra virginity is healthy for the human heart and helps in obesity management.
• The extra virgin olive oil market plays a major role in skin care as this oil moisturizes and heals the skin.

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Olive Oil Market: Strategic Insights

Olive Oil Market Drivers and Opportunities

Increasing Awareness of the Product's Health Benefits

• Consumer awareness of the health benefits of olive oil is an important driver for the market Increased consumer awareness of the health benefits of olive oil has become an important driver for the market.
• With consumers becoming more health-conscious and looking for healthy alternatives, the demand for olive oil has shot up as it is known to be rich in monounsaturated fats and antioxidants and has anti-inflammatory properties, which in turn are directly linked to reduced risks of heart disease and other serious illnesses such as stroke and certain cancers, as well as the dreaded Alzheimer’s.
• Research in this area, now positive and widespread in the medical field, has converted olive oil into a super-food in the minds of consumers.
• These benefits and the halo effect of the Mediterranean diet, which has been sufficiently hyped as being good for you and which includes olive oil as an important staple, have, in turn, encouraged manufacturers and marketers to highlight the health benefits of olive oil in their marketing initiatives. This has resulted in increased demand and sales across all consumer segments.

Increased Demand for Industrial Applications

• The growing need for industrial uses is also a big opportunity for the olive oil market.
• As global manufacturers and consumers search for natural, healthier alternatives to synthetic ingredients, olive oil is being used more widely in various industries.
• In cosmetics, it is valued for its moisturizing and antioxidant qualities and is thus used in creams and lotions for the skin and hair.
• In the pharmaceutical sector, olive oil is used to formulate drugs as a carrier and manufacture supplements. In industry, its lubricating properties mean that it is a more environmentally friendly option for some processes.
• This diversification of use expands the market for the producers of olive oil, helps stabilize demand, and potentially increases the profit margin for producers in the non-food segments.

Olive Oil Market Report Segmentation Analysis

The scope of the global olive oil market is segmented on the basis of packaging type, category, and distribution channel.

• Based on packaging type, the olive oil market is segmented into bottles, cans, and others.
• On the basis of category, the market is bifurcated into organic and conventional.
• Based on distribution channel, the market is categorized into supermarkets and hypermarkets, convenience stores, online retail, and others.

Olive Oil Market Share Analysis by Geography

• Olive Oil Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering olive oil market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers Porter’s Five Forces analysis, which involves the study of major factors that influence the olive oil market in these regions.

The regional trends and factors influencing the Olive Oil Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Olive Oil Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Olive Oil Market Report Scope

Olive Oil Market Players Density: Understanding Its Impact on Business Dynamics

The Olive Oil Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Olive Oil Market News and Recent Developments:

The olive oil market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:

• GOOD PLANeT Foods, known for its Olive Oil Cheese, expanded its product line with Cheese Slices in Sharp Cheddar and Smoked Gouda flavors, offering dairy-free options with exceptional taste, meltability, and heart health benefits due to their use of olive oil. (Source: GOOD PLANeT Foods, Press Release, March 2024)
• Neolea, a Mediterranean producer, introduced its extra virgin olive oil in sustainable aluminum can packaging, featuring a reusable 'Fresh Cap' to ensure the oil's integrity, freshness, and flavor. (Source: Neolea, Newsletter, May 2024)

Olive Oil Market Report Coverage and Deliverables

The “Olive Oil Market Size and Forecast (2021 – 2031)” provides a detailed analysis of the market covering below areas:

• Olive oil market size and forecast at global, regional and country levels for all the key market segments covered under the scope
• Olive oil market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Olive oil market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the olive oil market
• Detailed company profiles