Olive Market Forecasts to 2028 – Global Analysis By Type (Green Olive and Black Olive), Product Form (Raw Olives, Pickled Olives, Canned Olives, Frozen Olives and Dried Olives), End User (Households, Food Industry and Other End Users), Distribution Channel and By Geography
According to Stratistics MRC, the Global Olives Market is growing at a CAGR of 6.5% during the forecast period. An edible olive fruit can be green or black. The olive is one of the most widely grown crops. This tree also provides olive pits. Olive, also known as a table olive, is a premium raw material used to create the well-known product known as olive oil. Different ripening levels at the time of harvest are used to produce the various types of olives that are currently on the market. Olives are frequently used in homes and restaurants to make a wide range of dishes.
According to the FAO, the global harvested area of olives was recorded at 9.7 million ha in 2017, which will grow to 12.7 million ha by 2020.
Market Dynamics:Driver: Increased demand for olive oil due to dietary revolution
The trend is changing with the rising demand for oil and olive products, primarily because of their health benefits, as the general public becomes more informed about health. Antioxidants, omega-6 and omega-3 fatty acids, and antioxidants in olive oil improve heart health. Although the traditional centers of olive oil consumption were the Mediterranean nations—Spain, Italy, Morocco, Tunisia, and others—the growing middle class and wealthy consumers in China, Brazil, and India have begun incorporating refined and virgin olive oil into their daily diets, which is driving the market growth.
Restraint:Irregularities in the production of olive & high production cost
It is anticipated that in the coming years, the growth of the olive market will be constrained by the irregularities in the production of olive trees caused by climatic changes, their seasonal cultivation, and high production costs. Additionally, high production costs result in high prices for olives, which are expected to restrain the growth of the olive market during the projected timeframe.
Opportunity:Offers numerous health advantages
Olive consumption offers a number of health advantages, including the prevention of cardiovascular diseases, defense against colon, skin, breast, and anemia, control of blood pressure, improvement of fertility and the reproductive system, and maintenance of a strong immune system. Additionally, olives are a crucial component in the production of pickles and olive oil. In the home, olives are also used to make a variety of dishes. Such a wide range of advantages is boosting the market.
Threat:Overconsumption may lead to low blood sugar and pressure
Green olive oil has the ability to lower blood sugar levels below normal, which increases your risk of developing certain health issues like excessive sweating, hypoglycemia, trembling, and feeling weak. However, excessive consumption of olive oil has been linked to a number of health problems, including lightheadedness, dizziness, kidney failure, and stroke. Some research indicates that it can also cause a significant drop in blood pressure.
Covid-19 Impact
The COVID-19 outbreak caused problems in the olive market's supply chain, affecting everything from the olive grove to the consumer. FAOSTAT reports that since 2019, there has been a downward trend in the global production of olives. However, following a decline in 2019, the area used for olive farming increased in 2020. According to the Italian farmers' association Coldiretti, the market for olive oil in Italy has lost €2 billion ($2.25 billion) during the months of the COVID-19 lockdown. The closure of the food services and other coronavirus containment measures are responsible for the majority of the economic losses. However, the sector was also severely impacted by this time's declining olive oil prices.
The food industry segment is expected to be the largest during the forecast period
During the forecast period, the food industry segment is anticipated to register the largest share. The majority of olive production is used to make oil, but there are sizable markets for processed olives for food, typically as an entrée or snack or as an addition to cooked dishes. In olives, about 90 percent of the harvest gets turned into oil. It can be used in salads, as well as in cooking and as a drizzling agent for seasonal vegetables. Table olives pair nicely with a variety of cheeses and wines and make a great snack or appetizer. Some olives are sold stuffed with cheese, chili, lemon, and almonds. The growth of the segment is also being fueled by the numerous health claims made about the advantages of olives.
The black olive segment is expected to have the highest CAGR during the forecast period
Due to their high iron intake, black olive segment is estimated to witness the highest CAGR during the projected period. In general, black olives have fewer calories and fat than green olives. Black olives are ripe when harvested, while green olives are unripe. Studies suggest that black olives are generally higher in antioxidant activity, which aids your cells in fending off damage, and polyphenols, which support the immune system, according to Dr. Russell H. Greenfield, clinical assistant professor of medicine at UNC Chapel Hill School of Medicine. Additionally, black olives are a marginally better choice when trying to cut back on saturated fat.
Region with largest share:Europe is expected to witness the largest share during the forecast period. Owing to their production, consumption, and export of olives, all three are dominated by the European Union. With Spain, Italy, Greece, and France together accounting for more than 80% of global consumption, Europe is a significant contributor. According to the IOC, the European nations with the highest per-capita consumption of olive oil are Spain, Greece, Portugal, and Italy. In order to keep up with demand and production, the yield of olives in Europe increased from 26,398 to 27,346 hectograms per hectare.
Region with highest CAGR:Due to the shift in the consumption pattern towards the inclusion of olive oil in regular diets and greater usage of table olives, lucrative growth is anticipated in the North American region during the forecast period. One of North America's top producers of olive fruits is the United States. More than 95% of the olives grown in the US are produced in California. Additionally, the United States imports more olive oil than it exports, with the majority of those imports coming from Mediterranean nations like Greece, Italy, and Spain. Mexico and Canada are a couple of the other major producers of olives after the United States. The United States produced 91.6 thousand metric tons of olive fruit in 2021, and this amount is forecast to rise going forward, propelling the region's olive market.
Key players in the marketSome of the key players profiled in the Olives Market include 2Brother Olives & Foods, Adamakis Olives, Agrotiki S.A, Apollo Olive Oil, Escamilla, Eugene Brunel, Fruyper SA, Gaia olives, GARO-Aceituna Verde SL, Mantziolive Hellas P.C., Olive line international S.L and Texas Olive Oil.
Key Developments:In September 2022, The Food and Agriculture Organization of the United Nations (FAO) and the European Bank for Reconstruction and Development (EBRD) is collaborating with the Ministry of Agriculture and the European Union to conduct two training sessions for key players in Jordan on the best practices on olive oil mining and olive oil quality.
In May 2022, A team from the Faculty of Pharmacy and Food Sciences, Torribera Food and Nutrition Campus, and the Institute for Nutrition and Food Safety Research (INSA) of the University of Barcelona has presented a new methodology to determine the geographical origin of olive oil to help tackle adulteration and commercial fraud cases.
In January 2022, The Italian government has passed a law to protect suppliers and operators from burdensome contractual agreements hindering profitability and prohibiting the sale of extra virgin olive oil below cost.
Types Covered:
• Green Olive
• Black Olive
Product Forms Covered:
• Raw Olives
• Pickled Olives
• Canned Olives
• Frozen Olives
• Dried Olives
End Users Covered:
• Households
• Food Industry
• Other End Users
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
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