Olive Oil Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Olive Oil Market
The Olive Oil Market size was valued at USD 14.64 billion in 2023, and the market is now projected to grow from USD 15.11 billion in 2024 to USD 19.77 billion by 2032, exhibiting a CAGR of 3.42% during the forecast period of 2024-2032.
The COVID-19 pandemic has resulted in a sharp declination in the demand for and sales of olive fruit oil consumption. Trade was disrupted by all over the country lockdowns in a number of nations, which hampered the industry's expansion. These factors affceted the olive oil market growth.
The industry has augmmeted mainly because of the rising consumer interest in natural, cold-pressed, raw cooking oils because they are thought to be safer and healthier than processed alternatives. Demand amongst consumers for fats and oils containing MUFAs has expanded which has proportionally resulted in the greater awareness of these fats' positive health effects. Consumers goods enriched with omega-3 has been inevnted to improve the extreme medical cases of cardiovascular health and other bodily functions, according to a number of recent clinical investigations. These particular growth driving factors have been recorded to attribute the olive oil market share.
The main driving factor of the market's expansion is the trend of choosing healthier oils for cooking activities and also consumption of less oily foods in order to preserve overall health and wellness. The rising prevalence of lifestyle-related health concerns has led to a recent spike in consumer inclination for healthy food options, including healthy vegetable oils in their daily diets.
Comprehensive Analysis of Olive Oil Market
The market is divided into three categories based on type: virgin, refined/pure, and others (lampante oil and pomace oil). The market is split into categories based on the end-user, including food manufacturing, foodservice/hoReCa, household/retail, and others.
Europe has the biggest production and cultivation of olive trees, which is largely responsible for the market's robust expansion. Olea europaea fruit oil is mostly produced in Spain and Italy, which exports it to several other nations.
In order to increase their customer base and push the market forward, these firms are heavily emphasizing their geographic expansion. Del Monte Foods, Inc. (U.S.), Conagra Brands, Inc. (U.S.), Sovena Group (Portugal), Salov SpA (Italy), and Deoleo S.A. (Spain) are a few of the industry participants.
In July 2022, Olive oil with soluble phenol-rich hydroxytyrosol, which has several applications and health benefits, has been introduced by the Spanish company Genosa.
Segmentation Table
Attribute Details
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 3.42% over 2024 to 2032
Unit Value (USD Billion)
Segmentation
By Type
Virgin
Refined/Pure
Others (Lampante Oil, Pomace Oil)
By End-user
Households/Retail
Foodservice/HoReCa
Food Manufacturing
Others (Animal Feed, Pharmaceuticals, and Dietary Supplements)
By Geography
North America (By Type, End-user, and Country)
- U.S. (By Type)
- Canada (By Type)
- Mexico (By Type)
Europe (By Type, End-user, and Country)
- Germany (By Type)
- France (By Type)
- Italy (By Type)
- Spain (By Type)
- U.K. (By Type)
- Rest of Europe (By Type)
Asia Pacific (By Type, End-user, and Country)
- China (By Type)
- Japan (By Type)
- Australia (By Type)
- Rest of Asia Pacific (By Type)
South America (By Type, End-user, and Country)
- Brazil (By Type)
- Argentina (By Type)
- Chile (By Type)
- Uruguay (By Type)
- Rest of South America (By Type)
Middle East and Africa (By Type, End-user, and Country)
- Turkey (By Type)
- Egypt (By Type)
- Tunisia (By Type)
- Saudi Arabia (By Type)
- Morocco (By Type)
- Rest of ME&A (By Type)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
- 4. Key Insights
- 4.1. Overview of the Parent/Related Markets
- 4.2. Industry SWOT Analysis
- 4.3. Supply Chain and Regulatory Analysis
- 4.4. Recent Industry Developments - Policies, Partnerships, New Source Launches, and Mergers & Acquisitions
- 4.5. Market Analysis and Insights (in Relation with COVID-19)
- 4.5.1. Impact of COVID-19 on the Market
- 4.5.2. Supply Chain Challenges due to the Pandemic
- 4.5.3. Potential Opportunities to Support the Sales during the Calamity
- 5. Global Olive Oil Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. Market Size Estimates and Forecast
- 5.2.1. By Type
- 5.2.1.1. Virgin Olive Oils
- 5.2.1.2. Pure/Refined Olive Oil
- 5.2.1.3. Others
- 5.2.2. By End-User
- 5.2.2.1. Household/Retail
- 5.2.2.2. Foodservice/HORECA
- 5.2.2.3. Food Manufacturing
- 5.2.2.4. Others
- 5.2.3. By Region
- 5.2.3.1. North America
- 5.2.3.2. Europe
- 5.2.3.3. Asia Pacific
- 5.2.3.4. South America
- 5.2.3.5. Middle East & Africa
- 6. North America Olive Oil Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Type
- 6.2.1.1. Virgin Olive Oils
- 6.2.1.2. Pure/Refined Olive Oil
- 6.2.1.3. Others
- 6.2.2. By End-User
- 6.2.2.1. Household/Retail
- 6.2.2.2. Foodservice/HORECA
- 6.2.2.3. Food Manufacturing
- 6.2.2.4. Others
- 6.2.3. By Country (Value)
- 6.2.3.1. U.S.
- 6.2.3.1.1. By Type
- 6.2.3.1.1.1. Virgin Olive Oils
- 6.2.3.1.1.2. Pure/Refined Olive Oil
- 6.2.3.1.1.3. Others
- 6.2.3.2. Canada
- 6.2.3.2.1. By Type
- 6.2.3.2.1.1. Virgin Olive Oils
- 6.2.3.2.1.2. Pure/Refined Olive Oil
- 6.2.3.2.1.3. Others
- 6.2.3.3. Mexico
- 6.2.3.3.1. By Type
- 6.2.3.3.1.1. Virgin Olive Oils
- 6.2.3.3.1.2. Pure/Refined Olive Oil
- 6.2.3.3.1.3. Others
- 7. Europe Olive Oil Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Type
- 7.2.1.1. Virgin Olive Oils
- 7.2.1.2. Pure/Refined Olive Oil
- 7.2.1.3. Others
- 7.2.2. By End-User
- 7.2.2.1. Household/Retail
- 7.2.2.2. Foodservice/HORECA
- 7.2.2.3. Food Manufacturing
- 7.2.2.4. Others
- 7.2.3. By Country (Value)
- 7.2.3.1. Germany
- 7.2.3.1.1. By Type
- 7.2.3.1.1.1. Virgin Olive Oils
- 7.2.3.1.1.2. Pure/Refined Olive Oil
- 7.2.3.1.1.3. Others
- 7.2.3.2. France
- 7.2.3.2.1. By Type
- 7.2.3.2.1.1. Virgin Olive Oils
- 7.2.3.2.1.2. Pure/Refined Olive Oil
- 7.2.3.2.1.3. Others
- 7.2.3.3. Italy
- 7.2.3.3.1. By Type
- 7.2.3.3.1.1. Virgin Olive Oils
- 7.2.3.3.1.2. Pure/Refined Olive Oil
- 7.2.3.3.1.3. Others
- 7.2.3.4. U.K.
- 7.2.3.4.1. By Type
- 7.2.3.4.1.1. Virgin Olive Oils
- 7.2.3.4.1.2. Pure/Refined Olive Oil
- 7.2.3.4.1.3. Others
- 7.2.3.5. Spain
- 7.2.3.5.1. By Type
- 7.2.3.5.1.1. Virgin Olive Oils
- 7.2.3.5.1.2. Pure/Refined Olive Oil
- 7.2.3.5.1.3. Others
- 7.2.3.6. Rest of Europe
- 7.2.3.6.1. By Type
- 7.2.3.6.1.1. Virgin Olive Oils
- 7.2.3.6.1.2. Pure/Refined Olive Oil
- 7.2.3.6.1.3. Others
- 8. Asia Pacific Olive Oil Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. Market Size Estimates and Forecast
- 8.2.1. By Type
- 8.2.1.1. Virgin Olive Oils
- 8.2.1.2. Pure/Refined Olive Oil
- 8.2.1.3. Others
- 8.2.2. By End-User
- 8.2.2.1. Household/Retail
- 8.2.2.2. Foodservice/HORECA
- 8.2.2.3. Food Manufacturing
- 8.2.2.4. Others
- 8.2.3. By Country (Value)
- 8.2.3.1. China
- 8.2.3.1.1. By Type
- 8.2.3.1.1.1. Virgin Olive Oils
- 8.2.3.1.1.2. Pure/Refined Olive Oil
- 8.2.3.1.1.3. Others
- 8.2.3.2. Japan
- 8.2.3.2.1. By Type
- 8.2.3.2.1.1. Virgin Olive Oils
- 8.2.3.2.1.2. Pure/Refined Olive Oil
- 8.2.3.2.1.3. Others
- 8.2.3.3. Australia
- 8.2.3.3.1. By Type
- 8.2.3.3.1.1. Virgin Olive Oils
- 8.2.3.3.1.2. Pure/Refined Olive Oil
- 8.2.3.3.1.3. Others
- 8.2.3.4. Rest of Asia Pacific
- 8.2.3.4.1. By Type
- 8.2.3.4.1.1. Virgin Olive Oils
- 8.2.3.4.1.2. Pure/Refined Olive Oil
- 8.2.3.4.1.3. Others
- 9. South America Olive Oil Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. Market Size Estimates and Forecast
- 9.2.1. By Type
- 9.2.1.1. Virgin Olive Oils
- 9.2.1.2. Pure/Refined Olive Oil
- 9.2.1.3. Others
- 9.2.2. By End-User
- 9.2.2.1. Household/Retail
- 9.2.2.2. Foodservice/HORECA
- 9.2.2.3. Food Manufacturing
- 9.2.2.4. Others
- 9.2.3. By Country (Value)
- 9.2.3.1. Brazil
- 9.2.3.1.1. By Type
- 9.2.3.1.1.1. Virgin Olive Oils
- 9.2.3.1.1.2. Pure/Refined Olive Oil
- 9.2.3.1.1.3. Others
- 9.2.3.2. Argentina
- 9.2.3.2.1. By Type
- 9.2.3.2.1.1. Virgin Olive Oils
- 9.2.3.2.1.2. Pure/Refined Olive Oil
- 9.2.3.2.1.3. Others
- 9.2.3.3. Chile
- 9.2.3.3.1. By Type
- 9.2.3.3.1.1. Virgin Olive Oils
- 9.2.3.3.1.2. Pure/Refined Olive Oil
- 9.2.3.3.1.3. Others
- 9.2.3.4. Uruguay
- 9.2.3.4.1. By Type
- 9.2.3.4.1.1. Virgin Olive Oils
- 9.2.3.4.1.2. Pure/Refined Olive Oil
- 9.2.3.4.1.3. Others
- 9.2.3.5. Rest of South America
- 9.2.3.5.1. By Type
- 9.2.3.5.1.1. Virgin Olive Oils
- 9.2.3.5.1.2. Pure/Refined Olive Oil
- 9.2.3.5.1.3. Others
- 10. Middle East & Africa Olive Oil Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. Market Size Estimates and Forecast
- 10.2.1. By Type
- 10.2.1.1. Virgin Olive Oils
- 10.2.1.2. Pure/Refined Olive Oil
- 10.2.1.3. Others
- 10.2.2. By End-User
- 10.2.2.1. Household/Retail
- 10.2.2.2. Foodservice/HORECA
- 10.2.2.3. Food Manufacturing
- 10.2.2.4. Others
- 10.2.3. By Country (Value)
- 10.2.3.1. Turkey
- 10.2.3.1.1. By Type
- 10.2.3.1.1.1. Virgin Olive Oils
- 10.2.3.1.1.2. Pure/Refined Olive Oil
- 10.2.3.1.1.3. Others
- 10.2.3.2. Egypt
- 10.2.3.2.1. By Type
- 10.2.3.2.1.1. Virgin Olive Oils
- 10.2.3.2.1.2. Pure/Refined Olive Oil
- 10.2.3.2.1.3. Others
- 10.2.3.3. Tunisia
- 10.2.3.3.1. By Type
- 10.2.3.3.1.1. Virgin Olive Oils
- 10.2.3.3.1.2. Pure/Refined Olive Oil
- 10.2.3.3.1.3. Others
- 10.2.3.4. Saudi Arabia
- 10.2.3.4.1. By Type
- 10.2.3.4.1.1. Virgin Olive Oils
- 10.2.3.4.1.2. Pure/Refined Olive Oil
- 10.2.3.4.1.3. Others
- 10.2.3.5. Morocco
- 10.2.3.5.1. By Type
- 10.2.3.5.1.1. Virgin Olive Oils
- 10.2.3.5.1.2. Pure/Refined Olive Oil
- 10.2.3.5.1.3. Others
- 10.2.3.6. Rest of Middle East & Africa
- 10.2.3.6.1. By Type
- 10.2.3.6.1.1. Virgin Olive Oils
- 10.2.3.6.1.2. Pure/Refined Olive Oil
- 10.2.3.6.1.3. Others
- 11. Competitive Matrix
- 11.1. Business Strategies Adopted by Leading Players
- 11.2. Global Olive Oil Market Revenue Share/Ranking Analysis, By Key Manufacturer, 2023
- 12. Company Profiles
- 12.1. Cargill, Incorporated
- 12.1.1. Overview
- 12.1.2. Description
- 12.1.3. Product Portfolio
- 12.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.5. Recent Developments
- 12.2. Borges International Group
- 12.2.1. Overview
- 12.2.2. Description
- 12.2.3. Product Portfolio
- 12.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5. Recent Developments
- 12.3. Conagra Brands, Inc.
- 12.3.1. Overview
- 12.3.2. Description
- 12.3.3. Product Portfolio
- 12.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.3.5. Recent Developments
- 12.4. Del Monte Foods, Inc.
- 12.4.1. Overview
- 12.4.2. Description
- 12.4.3. Product Portfolio
- 12.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.4.5. Recent Developments
- 12.5. Deoleo S.A.
- 12.5.1. Overview
- 12.5.2. Description
- 12.5.3. Product Portfolio
- 12.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.5.5. Recent Developments
- 12.6. Modi Naturals Ltd.
- 12.6.1. Overview
- 12.6.2. Description
- 12.6.3. Product Portfolio
- 12.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.6.5. Recent Developments
- 12.7. Sovena
- 12.7.1. Overview
- 12.7.2. Description
- 12.7.3. Product Portfolio
- 12.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.7.5. Recent Developments
- 12.8. California Olive Ranch
- 12.8.1. Overview
- 12.8.2. Description
- 12.8.3. Product Portfolio
- 12.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.8.5. Recent Developments
- 12.9. Pompeian
- 12.9.1. Overview
- 12.9.2. Description
- 12.9.3. Product Portfolio
- 12.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.9.5. Recent Developments
- 12.10. Salov S.p.A
- 12.10.1. Overview
- 12.10.2. Description
- 12.10.3. Product Portfolio
- 12.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.10.5. Recent Developments
- 13. Appendix
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