Olive Oil Market is expected to reach US$ 17.93 Billion by 2028 due to its increasing popularity as a healthier cooking oil option and its expanding use in various culinary applications and beauty products.
Renub Research has lately published a report named “Olive Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2028,” providing an exhaustive industry analysis comprising market share acumen. Furthermore, the report covers research on competitors and countries and the current surge in the Olive Oil Market.
Olive Oil Market will grow at a CAGR of 6.48% between 2022 and 2028
The olive oil market is experiencing sizable growth due to its increasing recognition as a healthier cooking oil choice. Consumers are becoming more fitness-aware and searching for alternatives to standard cooking oils and excessive saturated fat. Olive oil, known for its coronary heart-healthy monounsaturated fats and antioxidants, aligns with this fashion. It is favored for its potential benefits, which include reducing the risk of coronary heart disorder and irritation. As dietary preferences shift toward healthier choices, the call for olive oil has surged.
Furthermore, the olive oil market is expanding rapidly because of its growing use in numerous culinary programs and beauty products. In the culinary realm, olive oil has grown to be a flexible and healthful option, effective for cooking and as a salad dressing and dipping oil. Its exclusive taste and health benefits have made it a staple in present-day kitchens. Moreover, due to its herbal hydrating and antioxidant properties, the beauty and skincare enterprise incorporates olive oil into merchandise like moisturizers and soaps. This dual-reason attraction, both inside the kitchen and in private care, is driving the growth of the olive oil market as consumers embrace its versatility and health advantages.
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The EU-27 dominates the olive oil consumption market
The Mediterranean place, home to many EU international locations, has a wealthy olive cultivation and oil manufacturing record, ensuring a constant supply. Moreover, the globally acclaimed Mediterranean diet program, offering olive oil as a cornerstone, fuels its intake. The EU’s rigorous quality requirements assure the authenticity and excellence of its olive oil. Furthermore, the EU’s culinary traditions deliver vast prominence to olive oil in cooking and as a condiment, firmly establishing it as an essential factor of daily meals and reinforcing its hegemony in the olive oil consumption market.
The EU-27 leads the olive oil production market
The Mediterranean weather in the EU, focused on nations such as Spain, Italy, and Greece, helps to achieve an optimal olive tree boom and steady yields. These international locations boast a rich olive farming and oil manufacturing history, refined over generations to assure expertise. Furthermore, good-sized investments in modern agricultural practices and technology have accelerated productiveness ranges. Also, the EU’s unwavering willpower to control quality and adhere to stringent requirements guarantees that it remains the premier international manufacturer of olive oil.
The United States commands the largest share in the olive oil importer market
To begin, Americans are increasingly paying attention to the fitness advantages linked to olive oil, resulting in heightened consumption. Furthermore, a diverse culinary panorama and the presence of various immigrant communities have spurred the desire for olive oil in more than a few cuisines. A robust distribution infrastructure and firmly mounted shops also ensure handy access to olive oil for customers. Moreover, the U.S. consumer base has become more discriminating, displaying a distinct demand for authentic, top-quality olive oil.
Spain reigns as the largest exporter in the olive oil market
Spain benefits from an expansive olive orchard landscape and an excellent climate, ensuring constant olive yields. The nation’s deep-rooted expertise in olive cultivation and superior processing techniques assure the manufacturing of high-quality olive oil. Efficient infrastructure and supply chains enable seamless global exports. Furthermore, government aid and a dedication to rigorous high-quality standards bolster Spain’s role as the foremost exporter in the international olive oil market, meeting the global needs for this enormously regarded culinary essential.
In the upcoming years, virgin olive oil will become more popular
Increased consumer awareness of virgin olive oil’s health advantages, a rise in the demand for high-end and organic food items, and the expanding global appeal of Mediterranean cuisine all contribute to the growth of virgin olive oil. Further boosting the development of high-quality virgin olive oil in the olive oil market is the industry’s key players’ adoption of cutting-edge production methods and sustainable farming practices.
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The food and beverage sector holds the most significant portion of the olive oil market
Due to the wide variety of olive oil brands that are readily available and the consequent rise in consumer demand, the food and beverage industry holds the largest market share. The demand for olive oil in various food items has also increased due to consumers’ desire for a healthy lifestyle.
Competitive Landscape
Several significant players in the olive oil market are covered in the study, including Modi Naturals, Cargill, Inc., Bunge Limited, Conagra Brands, and Semapa.
Market Summary
- Consumption – The Report covers the Olive Oil Market by consumption in 11 viewpoints (EU-27, Turkey, Morocco, Tunisia, Syrian Arab Republic, Algeria, Argentina, Lebanon, Jordan, Chile, and Others).
- Production – By production, the Olive Oil Market is breakup into 11 viewpoints (EU-27, Turkey, Morocco, Tunisia, Syrian Arab Republic, Algeria, Argentina, Lebanon, Jordan, Chile, and Others).
- Import – The Olive Oil Market is broken up into 11 viewpoints (United States, EU-27, Brazil, Japan, Canada, China, Australia, Turkey, Russian Federation, Saudi Arabia, and Others). Â
- Export – Olive Oil Market breakup by export in 11 viewpoints (EU-27, Tunisia, Turkey, Syrian Arab Republic, Morocco, Argentina, Chile, United States, Lebanon, Jordan, and Others).
- Type – Renub Research report covers the Olive Oil Market by type in 3 viewpoints (Extra Virgin Olive Oil, Virgin Olive Oil, and Others).
- Industry – The Olive Oil Market is divided into three viewpoints (Pharmaceuticals, Cosmetics, and Food and Beverages).Â
- Key Players- All the major players have been covered from 4 Viewpoints (Overview, Strategy, Merger/Acquisition, and Financial Insights): Modi Naturals, Cargill, Inc., Bunge Limited, Conagra Brands, and Semapa.  Â
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