Olive Oil Market Share, Growth Rate, and Forecast 2023-2028
According to IMARC Group’s latest research report, titled “Olive Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” presents a comprehensive analysis of the industry, covering olive oil market share, opportunity, statistics size, trends, demand, and growth prospects. The report also provides competitor and regional analysis and showcases the contemporary advancements in the global market.
How big is the Olive Oil Market?
The global olive oil market size reached US$ 13.84 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.28 Billion by 2028, exhibiting a growth rate (CAGR) of 4.60% during 2023-2028.
What is Olive Oil?
Olive oil, made from the ripe fruit of the olive tree, Olea europaea, represents an edible lubricant. It typically appears as a clear yellow to golden liquid with a mild, neutral flavor. Olive oil is believed to have cholesterol-lowering and anti-inflammatory effects, rich in vitamins D and K, antioxidants, such as polyphenols, and monounsaturated fatty acids. It is available in various types, including extra virgin, virgin, pure, and refined. Pure olive oil is commonly used in cooking and food preservation, particularly for canned fish. In addition to this, this lubricant also finds applications in the textile industry for wool combing and in the pharmaceutical sector for medicinal purposes. As a result, olive oil is utilized as fat in the production of toilet preparations, cosmetics, and high-quality castile soap.
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What are the Growth Prospects and Trends in the Olive Oil Market?
The escalating product consumption, owing to its various health benefits, including minimizing the risk of cardiovascular illnesses and type 2 diabetes mellitus, regulating blood pressure, preventing Alzheimer’s disease and dementia, and promoting healthy digestion and nutrient absorption, is primarily driving the olive oil market. Besides this, the extensive utilization of this lubricant in cooking as a salad dressing, bread dip, and pasta drizzle and in the production of dietary supplements and pharmaceuticals is further augmenting the market growth. Moreover, the natural moisturizing properties of organic olive oil have made it a popular alternative to harsh, chemical-laden cleansers and lotions and in formulating cosmetics and skincare products, promoting improved skin appearance and texture, on account of the presence of polyphenols, which are also catalyzing the global market. Apart from this, the elevating requirement for essential oils in aromatherapy, owing to their ability to improve circulation, lymphatic drainage, and reduce stress, and the easy availability of this lubricant through online and offline channels are expected to bolster the olive oil market in the coming years.
Who are the key Players Operating in the Industry?
- Artajo Oil
- Borges International Group
- S.L.U.
- California Olive Ranch Inc.
- Cargill Incorporated
- Colavita SpA
- Conagra Brands Inc.
- Del Monte Foods Inc. (Del Monte Pacific Ltd.)
- Deoleo
- Domenico Manca S.p.a.
- EU Olive Oil Ltd.
- Gallo Worldwide
- Gruppo Salov
- Sovena Group
What is included in Market Segmentation?
The report has segmented the market into the following categories:
Type Insights:
- Virgin Olive Oil
- Refined Olive Oil
- Extra Virgin Olive Oil
- Olive Pomace Oil
- Others
Distribution Channel Insights:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
Application Insights:
- Food and Beverage
- Pharmaceuticals
- Cosmetics
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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