Olive Oil Market Analysis size was valued at projected to reach USD 16.31 Billion by 2030
Olive Oil Market Overview:
The global olive oil market is likely to
grow at a notable CAGR between 2020-and 2028, as per the recent Market Research
Future (MRFR) report. Olive oil is obtained from olives and is rich in healthy
fatty acids. It is available in different types such as refined olive oil,
olive pomace oil, virgin olive oil, pure olive oil, light olive oil, and extra
virgin olive oil, among others. It is gluten-free, thereby making it a tasty
and healthy alternative to conventional edible oils. Olive oil helps to treat
stomach ulcers, stomach cancer, type 2 diabetes, osteoporosis, and rheumatoid
arthritis. Besides, it is rich in antioxidants and oleic acid that help to
reduce inflammation and lower the risk of heart diseases. It has a wide range
of applications, including pharmaceutical, cosmetics, food, and other industries.
Numerous factors are adding to the global
Olive Oil Market These
factors, according to the recent Market Research Future report, include
consumers changing dietary styles, increasing health consciousness, rising per
capita consumption, increasing production of olive oil, increasing disposable
income, strong economic growth, and rising awareness about the health benefits
of using olive oil.
On the contrary, the availability of substitutes
such as palm, coconut, and mustard oil and the high cost of olive oil may deter
the global olive oil market growth.
Covid 19 Analysis:
The disruption created across the industry
verticals and significant other industries due to prolonged lockdown are
considered key restraining factors for the growth of the olive oil market. The
disruption in trade activities and reduction in imports have affected the
overall growth of the market. For instance, a recent report from the US census
bureau reported that the import has decreased by 13% in the year 2020 compared
to the previous years. However, the increased concerns related to immunity and
overall health-related issues have created a huge impact on the growth of the
olive oil market during the pandemic as well.
The Mediterranean countries exhibit a higher
inclination towards home cooking and healthy dietary habits. Such factors have
propelled the overall growth of the olive oil market during the pandemic. However,
after the relaxation of the norms and regulations imposed by the government
several market players had re-established the oil trade networks and thereby
fuelled the overall growth of the olive oil market.
Market Segmentation
The Market Research Future report provides an
all-inclusive segmental analysis of the global olive oil market based
on type, category, and distribution channel.
By type, the global olive oil market size is segmented
into refined, virgin, extra virgin, and others. Of these, the extra virgin
olive oil will have the largest share in the market during the forecast period
for its immense health benefits.
By category, the global olive oil is segmented into conventional
and organic. Of these, the conventional segment will dominate the market during
the forecast period of its ample availability. The organic segment, on the
contrary, will grow at a higher CAGR for the increasing inclination of
consumers toward organic olive oil.
By distribution channel, the global olive oil market is
segmented into non-store-based and store-based. The store-based segment is
again segmented into convenience stores, supermarkets and hypermarkets, and
others. Of these, supermarkets and hypermarkets will lead the market during the
forecast period of the widespread and strong network of stores. On the other
hand, the non-store-based segment will grow at a higher CAGR for the increasing
preference of consumers for online retailing and technological advances in the
e-commerce industry.
Regional Analysis
By region, the global olive oil market report
covers the latest trends and growth opportunities across North America, the
Asia Pacific (APAC), Europe, and the Rest of the World (RoW). Among these,
Europe is likely to dominate the market during the forecast period for the huge
olive production and consumption in the region. Italy, Portugal, and Spain are
the leading best olive oil consumer reports in the region.
The global olive oil market in the APAC region is
predicted to have rapid growth during the forecast period for the surging
production as well as consumption of olive oil in this region.
The global olive oil market in North America will
have significant growth during the forecast period for the rising preference of
consumers for healthy food supplements, raising awareness about the various
health benefits of olive oil, and the expanding food sector. The US, Canada,
China, and India are the leading contributors to this region.
The global olive oil market in the RoW will have
moderate growth during the forecast period for the increasing popularity of
olive oil in the region.
Key Players
Eminent players profiled in the
global Key Olive Oil Market Players report include GALLO Worldwide and Lda.
(Portugal), Jindal Retail India Pvt. Ltd. (India), Cargill, Incorporated (US),
The Unilever Group (UK), Del Monte Pacific Limited (Singapore), DEOLEO
S.A.(Spain), Sovena Group (Portugal), Grupo Ybarra Alimentation, SL (Spain),
Borges Branded Foods SLU (Spain), and Salov S.p. An (Italy).
Industry News
Feb 2020- Leading oral care brand Hello Products
has launched a new lip balm that is completely vegan and made with olive oil
and coconut oil to moisturize and soothe.
Access clicks the link below for the full
report
NOTE: Our Team of
Researchers is Studying Covid19 and its Impact on Various Industry Verticals
and wherever required we will be considering Covid19 Footprints for Better
Analysis of Market and Industries. Cordially get in Touch for More Details.
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