Organic Olive Oil Market By Product (Extra Virgin Olive Oil, Virgin Olive Oil), By End User (Food Processing, Food Service, Cosmetics and Personal Care, Pharmaceuticals, Others), By Sales Channel (B2B Suppliers, Hypermarkets/Supermarkets, Grocery Store, Online Retail, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global organic olive oil market size was $932.6 million in 2021, and is projected to reach $2,183.3 million by 2031, registering a CAGR of 8.9% during the forecast period from 2022 to 2031. Organic olive oils are usually produced mechanically, directly from olives. The oils have a wide range of qualities, including organoleptic features such as taste, color, and smell, depending on several variables, including the type of olive, the soil, the climatic conditions, and the date of harvest. Moreover, due to its pleasant taste, virgin organic olive oil is widely preferred across the globe.
A balanced diet can prevent malnutrition in all of its forms as well as non-communicable diseases (NCDs), including diabetes, heart disease, stroke, and cancer, according to the WHO. Conversely, a poor diet and lack of exercise affect people's health globally. A healthy diet should be followed throughout one's life to prevent both malnutrition in all of its manifestations and several non-communicable diseases (NCDs) and maladies. Furthermore, a range of social and economic elements that are intimately interconnected across time impact each person's dietary patterns resulting in deficiencies. Personal preferences and beliefs, cultural practices, regional and environmental conditions, socioeconomic status, food costs—which have an impact on the accessibility and affordability of nourishing meals—and changes in the availability of food, such as climate change—are a few of these factors. Vegetable oils with high levels of omega-3, vitamin E, and MUFA are in high demand. High concentrations of MUFA and other antioxidants found in organic olive oil support healthy cardiac functions. Additionally, consumers are becoming more knowledgeable about the multiple health advantages linked to MUFAs. The market for organic olive oil is expected to rise as a result of rising knowledge of the importance of vital fatty acids.
In addition, rising consumer demand for organically produced olive oil has opened up new market prospects for farmers and is changing the organic olive oil market. Organic olive oil is currently sold in a variety of places, including farmers' markets, natural product supermarkets, conventional supermarkets, and club stores. Additionally, the majority of consumers seek out organic products, including well-educated people who are concerned about environmental and health issues, ill people who have medical conditions or are following a special diet, and wealthy people who can afford to buy organic food even though it is more expensive than conventional food, and infrequent buyers who give the products a try out of curiosity and go on to buy organic olive oil because they liked their first experience. Hence, the popularity of organic products such as olive oil is likely to boost the demand in the organic olive oil market.
The pandemic of COVID-19 has raised consumer awareness of the importance of a healthy diet and supplements. Many healthy supplements and nutraceutical products consisting of organic olive oil which helps to build gut health were in demand. As a result, the global organic olive oil market was positively affected due to the pandemic. Post COVID-19 pandemic, the demand for organically produced olive oil is expected to grow significantly during the forecast period due to increasing demand for organic products.
The organic olive oil market is segmented on the basis of product, end user, sales channel, and region. On the basis of product, the market is categorized into extra virgin olive oil and virgin olive oil. According to the end user, it is fragmented into food processing, food service, cosmetics and personal care, pharmaceuticals, and others. As per sales channel, the market is divided into B2B suppliers, hypermarkets/supermarkets, grocery store, online retail, and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Netherlands, and the Rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, India and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, United Arab Emirates and Rest of LAMEA).
By product, extra virgin olive oil was the highest revenue contributor in 2021 with a CAGR of 9.0%. In addition, extra virgin olive oil is widely available in almost all distribution channels in the market. Due to its flavor of fresh olive oil, it is greatly preferred by customers all over the globe.
By end user, food service was the highest revenue contributor in 2021 i.e., $359.5 million in 2021, and is expected to reach $877.6 million by 2031 at a CAGR of 9.4%. Organic olive oil has gained popularity as a healthy option among customers because of its high monounsaturated fat content and low level of polyunsaturated fat. As a result, using organic olive oil in food services helps the organic olive oil business expand.
By sales channel, B2B suppliers were the largest share in 2021 and are expected to have the largest market share in 2031 due to business-to-business transactions being most frequently seen in the supply chain, where one company purchases raw materials from another for use in the manufacturing process. Moreover, consumers can make purchases of finished goods through business-to-consumer transactions.
By region, Europe holds the largest share in 2021 as it is witnessing a significant increase in consumer awareness as a result of global players' competitive strategies. Demand from countries such as France, Germany, and the UK is helping to drive overall growth. The growing urban population, combined with rising disposable income and living standards, is expected to contribute to overall growth.
The market is being driven by factors such as rapid growth in the food & beverage as well as cosmetic and personal care industries in developing countries, as well as increased awareness of the benefits of organic olive oil. The major players operating in the global organic olive oil market are Borges International Group, Colavita USA LLC, Deoleo, S.A., Melissa Kikizas, Minerva Foods, Monini, Olinexo, Nutrinveste SGPS, SA, Pompeian, Inc., and United Olive Oil Import Co.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the organic olive oil market analysis from 2021 to 2031 to identify the prevailing organic olive oil market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the organic olive oil market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global organic olive oil market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product
Extra Virgin Olive Oil
Virgin Olive Oil
By End User
Food Processing
Food Service
Cosmetics and Personal Care
Pharmaceuticals
Others
By Sales Channel
B2B Suppliers
Hypermarkets/Supermarkets
Grocery Store
Online Retail
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Netherlands
Rest of Europe
Asia-Pacific
China
Japan
Australia
South Korea
India
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
Saudi Arabia
South Africa
United Arab Emirates
Rest of LAMEA
Key Market Players
Borges International Group
Colavita, LLC
Deoleo
melissa kikizas s.a.
Minerva Foods
Olinexo S.L.
Nutrinveste SGPS, SA
Pompeian, Inc.
United Olive Oil Import Co.
monini spa
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