Olive Oil Size Worth $16.8 Billion By 2030: IndustryARC

Global Olive Oil Market size is predicted to reach $16.8 billion by 2030, growing at a CAGR of 5.3% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. Increase in the growing trend of health consciousness among consumers and rising demands for healthy cooking oil propels market growth, finds IndustryARC, , titled, “Olive Oil Market – By Source (Organic, Non-Organic), By Type (Virgin Olive Oil (Extra Virgin Olive Oil, Virgin Olive Oil, Ordinary Virgin Olive Oil, Lampante Virgin Olive Oil), Refined Olive Oil, Pomace Olive Oil(Crude Olive Pomace Oil, Refined Olive Pomace Oil), Others), By Application (Pharmaceutical Industry (Salves, Plasters and Enemas, Active Ingredients, Soft Gelatin Capsules, Nose Sprays, Others), Food Industry (Bakery, Confectionary, Breakfast Cereals, Others), Cosmetic and Personal Care, Pet Foods, Soaps & Lubricants, Others), By Packaging (Tins, Bottles, Others), By Distribution Channels (Supermarkets/Hypermarkets, Convenience Stores, Online Channel, Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2024-2030”.

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Europe to Register Highest Growth:

In 2023, Europe held the third-largest market share for Olive Oil market, with 39%, followed by North America and Asia-Pacific. European consumers are becoming more discerning, seeking out high-quality olive oil, there’s a growing demand for Extra Virgin Olive Oil (EVOO), known for its superior taste and health benefits. This trend creates opportunities for producers who can guarantee the authenticity and high standards of their EVOO. Additionally, The popularity of the Mediterranean diet, renowned for its focus on fresh produce and healthy fats, continues to be a major driver, as Europeans embrace the Mediterranean diet, their demand for olive oil naturally increases.

Olive Oil 2023-2030: Scope of the Report

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Olive Oil Report – Key Takeaways:

• Rising Popularity of the Mediterranean Diet

There is a growing popularity of the Mediterranean Diet in the Olive Oil market. Consumers are increasingly drawn to its focus on fresh, minimally processed ingredients and its emphasis on enjoyable, shared meals, olive oil, a key element in achieving the distinct flavors and health benefits of this diet, becomes a natural choice for those embracing this way of life. Additionally, the surging popularity of the Mediterranean diet presents a powerful marketing opportunity for the olive oil industry. Furthermore, the olive oil market is responding to the rise of the Mediterranean diet with innovative products. Flavored olive oils cater to diverse culinary applications within this dietary framework, while infused olive oils offer new flavor profiles that complement various dishes, these innovations tap into the growing consumer interest and expand the market potential of olive oil.

• Growing Health and Wellness Focus

The market for Olive Oil is primarily driven by the growing health and wellness focus. Consumers are increasingly prioritizing their health and well-being, this shift fuels a surge in demand for natural, healthy fats like those found in olive oil. Additionally, as the concept of preventive healthcare is gaining traction globally, consumers are taking a more proactive approach to maintaining their health, and olive oil, with its perceived health benefits, contributes to overall market growth. Furthermore, capitalizing on these factors arising from the growing health and wellness focus, olive oil market propels it’s market growth.

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Key Opportunity Analysis:

Premiumization and Single-Origin Focus

The rise of premiumization and single-origin focus presents a significant market opportunity for the Olive Oil market, as disposable income rises, consumers are willing to pay more for superior taste, aroma, and health benefits. This trend favors premium olive oil varieties like Extra Virgin Olive Oil (EVOO) with protected designations of origin (PDO) or specific cultivar labels. Additionally, single-origin olive oils, sourced from a specific region or olive grove, offer a sense of authenticity and traceability, highlighting these aspects through storytelling and emphasizing traditional production methods propels the market growth. By premiumization and single-origin focus, olive oil companies can differentiate themselves in a competitive olive oil market.

Increasing Diversification beyond Traditional Uses

The olive oil market is experiencing a surge in exploration beyond its traditional use as a cooking oil. The well-documented health benefits of olive oil, rich in antioxidants and monounsaturated fats, are driving its application beyond the kitchen, consumers are interested in incorporating olive oil into their wellness routines. Additionally, diversifying beyond traditional olive oil offers the potential for higher profit margins, specialty infused olive oils or olive oil-based cosmetics can command premium pricing compared to basic cooking oils. These infused oils can be used for salad dressings, marinades, dipping sauces, or even finishing touches on dishes, expanding their appeal beyond traditional sauteing or frying, thereby driving the overall olie oil market growth.

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The report also covers the following areas:

• Olive Oil Size and Forecast
• Olive Oil Trends
• Olive Oil Analysis by Product Type

Olive Oil 2023-2030: Key Highlights

• CAGR of the market during the forecast period 2023-2030
• Value Chain Analysis of key stakeholders
• Detailed analysis of market drivers and opportunities during the forecast period
• Olive Oil size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor market analysis including offerings, developments, and financials
• Comprehensive analysis of challenges and constraints in the Olive Oil

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List of Key Market Players in the Olive Oil:

The Global Olive Oil is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

1. Avril SCA
2. Borges International Group SLU
3. Botticelli Foods
4. Bunge Ltd
5. California Olive Ranch
6. Cargill Inc.
7. Deoleo SA
8. Grup Pons
9. Olivier Pacific Ltd
10. Sovena Group

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