What Transformation Has the Olive Oil Market Undergone?
The olive oil market has seen considerable growth due to a variety of factors.
•Over the past few years, the olive oil market has experienced significant growth. The market is projected to rise from $12.86 billion in 2024 to $13.59 billion in 2025, with a compound annual growth rate (CAGR) of 5.7%.
Factors contributing to this growth during the historic period include a societal shift toward healthier eating habits, an increase in demand for gourmet and specialty foods, a greater acknowledgment of the health benefits of olive oil, the expansion of olive oil producing regions, and extensive marketing and promotional activities associated with olive oil.
How Will The Olive Oil Market Size Evolve In The Foreseeable Future?
The olive oil market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations are high for a robust expansion in the olive oil market size in the upcoming years. It's projected to augment to "$17.13 billion by 2029, clocking a compound annual growth rate (CAGR) of 5.9%.
The upswing during the forecast period can be owed to escalating worldwide health awareness, innovative developments in olive oil products, ongoing enlargement of premium and specialty olive oil sectors, eco-friendly sustainability practices, and soaring global culinary tourism movements. Significant trends during the forecast period consist of evolving consumer inclinations towards premium and extra virgin olive oils, sustainable and organic production methods, globalization and boosted international commerce, technological advancements in olive oil manufacturing, regulatory norms, and quality control.
Which Key Drivers Are Propelling The Olive Oil Market's Growth?
The expanding need within the food service and retail sectors is set to catalyze the olive oil market's growth in the forthcoming times. The food service area encompasses all aspects, actions, and commercial processes linked to preparing and distributing meals to individuals dining outside their homes, such as at restaurants and fast food joints. The term "retail industry" implies the responsibilities and actions linked to directly dispensing goods to consumers. The escalating demand for olive oil in food service and retail domains is stimulating the olive oil market since it's employed in the preparation of numerous recipes and cuisines in eateries and home cooking. For example, the International Olive Council, an intergovernmental organization based in Spain that focuses on table olives and olive oil, stated in March 2022 that the global consumption of olive oil could rise by 2.9% from the harvest year 2020/21 to 3214 500t in 2021/22. Therefore, the surging demand in the food service and retail segments is fueling the market.
What Are The Key Segments Within The Global Olive Oil Market?
The olive oil market covered in this report is segmented –
1) By Type: Virgin Olive Oil, Refined Olive Oil, Extra Virgin Olive Oil, Olive Pomace Oil
2) By Nature: Conventional, Organic
3) By Distribution Channel: B2B Suppliers, Super market Or Hyper market, Grocery Store, Online Retail, Other Distribution Channels
4) By End User: Food Processing, Food Service, Cosmetics And Personal Care, Pharmaceuticals, Other End Users
Subsegments:
1) By Virgin Olive Oil: Cold Pressed Virgin Olive Oil, Filtered Virgin Olive Oil, Unfiltered Virgin Olive Oil
2) By Refined Olive Oil: Light Refined Olive Oil, Refined Olive Oil Blend
3) By Extra Virgin Olive Oil: Organic Extra Virgin Olive Oil, Flavored Extra Virgin Olive Oil
4) By Olive Pomace Oil: Refined Olive Pomace Oil, Pomace Oil Blend
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How Are New Trends Impacting The Size Of The Olive Oil Market?
In the olive oil industry, creating new and innovative products is becoming an increasingly prominent trend. Companies, in order to solidify their presence in this market, are focusing on developing unique offerings. A testament to this is the January 2022 product launch by Graza, a US-based manufacturer of extra virgin olive oil. They introduced two unique products, namely Drizzle and Sizzle, which are the first of their kind. These products, packaged in squeeze bottles, are made using Picual olives, a specialty from the prosperous agricultural region of Andalusia, Spain. This area is renowned for creating an always fresh, remarkably healthy, and singularly sourced extra virgin olive oil. Drizzle is a product made from olives harvested in the first week of October, providing an oil that is delectably aromatic, loaded with polyphenols and antioxidants. Sizzle, on the other hand, is gathered in December at the peak of the growing period, resulting in a beautiful mix of purple and green olives that yield a greater amount of oil.
Who Are the Key Players in the Olive Oil Market?
Major companies operating in the olive oil market include:
• Cargill Incorporated
• Deoleo S.A.
• Del Monte Food Inc.
• Gallo Worldwide
• Borges International Group
• Avenida Rafael Ybarra
• Sovena Group
• California Olive Ranch Inc.
• Salov S.p.A.
• Jaencoop Grupo
• Colavita S.p.A
• EU Olive Oil Ltd.
• Sun Grove Foods Inc.
• Oil Artajo SL
• Aceites Sandua
• Tucan Olive Oil Company Ltd.
• Domenico Manca S.p.A.
• Grampians Olive Co.
• Victoria Olive Oil Co.
• Les huiles d'olive Lahmar
• Minerva Olive Oil
• Castillo de Canena
• Gaea Products S.A.
• Pompeian Inc.
• Lucini Italia Co.
• Agro Sevilla Group
• Bellucci Premium
• Costa d'Oro
• Grupo Ybarra Alimentación
• Monini S.p.A.
What are the Regional Insights into the Olive Oil Market?
Europe was the largest region in the olive oil market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the olive oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
