Global Olive Oil Market - 2023-2030

Global Olive Oil Market - 2023-2030

The Global Olive Oil Market size reached US$ 12.1 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 15.5 billion by 2030. The market is growing at a CAGR of 3.2% during the forecast period 2023-2030.

The olive oil market has been experiencing steady growth over the years. The demand for healthy and tasty edible oil has been fueling the market. The increasing awareness regarding the nutritional benefits of olive oil has been a major factor driving the growth of the market. The growth in the number of health-conscious consumers, coupled with the rise in disposable income, has been boosting the market. The market is highly competitive, with a large number of players competing for market share.

Market Dynamics

Increasing Demand for Healthy and Organic Food Products Drives the Market

Consumers have become more health-conscious and are looking for healthier food options. Olive oil is known for its health benefits, as it is rich in monounsaturated fats and antioxidants. The rise in the number of health-conscious consumers has led to an increase in the demand for olive oil, which has boosted the market.

Moreover, the emergence of online platforms has made it easier for consumers to access a wide range of olive oil products, which has further fueled market growth. Online channels provide a convenient and efficient way for consumers to shop for olive oil products from the comfort of their homes.

The Growing Popularity of the Mediterranean Diet Drives the Market Growth

The Mediterranean diet has gained popularity in recent years due to its numerous health benefits. The diet is based on the consumption of fruits, vegetables, legumes, whole grains and healthy fats, such as olive oil. The diet has been linked to a lower risk of heart disease, stroke and other chronic conditions.

As a result, there has been an increase in the consumption of olive oil, which has driven the market growth. Moreover, the growing awareness about the nutritional benefits of the Mediterranean diet has led to an increase in the demand for olive oil, which has further boosted the market.

COVID-19 Impact Analysis

The COVID-19 pandemic has had a significant impact on the olive oil market, with changes in consumer behavior and supply chain disruptions leading to fluctuations in demand and prices.

The supply chain disruptions such as transportation restrictions and labor shortages have led to challenges in production and distribution, leading to higher prices and reduced availability of some olive oil varieties.

However, with lockdowns and social distancing measures in place, consumers have shifted towards online shopping, increasing e-commerce sales of olive oil.

Artificial Intelligence Impact Analysis

Artificial intelligence (AI) can have a significant impact on the olive oil market by providing valuable insights into various aspects of the industry. For instance, AI can be used to analyze consumer behavior, predict yields, monitor quality control, analyze pricing data and detect fraudulent activities. By leveraging AI, companies in the olive oil market can make informed decisions, improve their operations and stay ahead of the competition.

Segment Analysis

The global olive oil market is segmented based on type, application and region.

Increased Awareness Among Consumers About the Nutritional Benefits of Virgin Oil

In the global olive oil market, virgin oil holds the largest share due to its superior quality and health benefits. The versatility of virgin oil has contributed to its popularity, making it the preferred choice for most consumers.

Additionally, the rise in demand for healthy and organic food products has also boosted the demand for virgin oil, as it is a natural and healthy alternative to other cooking oils. The increasing awareness about the nutritional benefits of virgin oil has also played a key role in driving its market growth.

Consumers are becoming more health-conscious and are looking for healthier food options. Virgin oil is known to have several health benefits, including reducing the risk of heart disease, improving digestion and reducing inflammation.

Geographical Analysis

Increased Consumption of Olive Oil in North America

North America has emerged as the largest consumer of olive oil globally, accounting for a significant share of the global olive oil market. This dominant position of North America in the olive oil market is mainly due to the growing awareness of the health benefits of olive oil among consumers.

The rising demand for healthier cooking oil options and the increasing popularity of the Mediterranean diet are the two primary factors has fueled the growth of the North American olive oil market. The region has also boasted a large population of health-conscious consumers who are willing to pay a premium for high-quality, organic olive oil.

Competitive Landscape

The major global olive oil market players include Deoleo, GALLO Worldwide, Lda, Cargill, Incorporated, Broges SA, California Olive Ranch, Fieldfresh Foods Private Limited, Almazaras de la Subbetica, Paolo Bonomelli Boutique Olive Farm, Conagra Brands, Oro del desierto and Sucesores de Hermanos López SA.

Why Purchase the Report?
• To visualize the global olive oil market segmentation based on type, application, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of benzenoid market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Olive Oil Market Report Would Provide Approximately 53 Tables, 50 Figures and 103 Pages.

Target Audience 2023
• Manufacturers / Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies