Olive Oil Market to Surpass 3,299.9 KT by 2027 - Coherent Market Insights

Published On : Nov 26, 2019

The global olive oil market was valued at 3,026.6 KT in 2018, according to Olive Oil Market Report, by Product Type (Extra Virgin Oil, Virgin Oil, and Others (Pomace Olive Oil, Lampante Oil, etc.)), by Distribution Channel (Business-to-business (Food & Beverages, Pharmaceutical, and Beauty & Personal Care) and Business-to-consumer (Hypermarket & Supermarket, Grocery Stores, Online Channel, and Others)), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.

The global olive oil market is projected to reach 3,299.9 KT by 2027, exhibiting a CAGR of 1% during the forecast period (2019-2027). Olive oil is obtained from olives, which are traditional tree crops within the Mediterranean region. The major ingredients of olive oil include oleic acid and also fatty acids such as palmitic acid and linoleic acid. One of the major ingredients, oleic acid present in olive oil reduces the risk of breast cancer.

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Browse 50 market data tables* and 40 figures* on "Olive Oil Market” - Global forecast to 2027.

Key Trends and Analysis of the Olive Oil Market:

Olive oil is a highly nutritive product, which is extracted from fresh olive fruits. The lifestyle of people and the quality of food consumed is deteriorating continuously. Therefore, it is very essential to ensure that people consume healthy food. Health experts across the globe recommend the use of extra virgin olive oil, as it has high monosaturated fat content and omega acids. Olive oil also possess anti-inflammatory properties, which facilitates in dealing with chronic inflammation that might cause cardiovascular diseases. Thus, there is an increasing trend of using extra virgin olive oil amongst the end users.

Key Takeaways of the Market:                                   

  • Among distribution channels, business-to-business segment is expected to hold dominant position in the market over the forecast period. This is majorly attributed to increasing demand for olive oil from beauty and personal care industry to be used in various cosmetics. The use of olive oil in various cosmetic products help in ensuring that the quality of skin is maintained, crack heels are cured, and also that the overall skin health is improved. Olive oil is also being used in anti-aging creams, as it is an antioxidant agent. The antioxidant effects of olive oil also makes it effective for use in various pharmaceutical products, which helps in the treatment of various chronic diseases such as hypertension, coronary heart diseases, and in treatment of cancer such as colon cancer and breast cancer.
  • Among regions, Europe held dominant position in the global olive oil market in 2018 and is expected to maintain its dominance over the forecast period. For instance, according to data released by International Olive Oil Council in November 2018, Europe olive oil production increased from 1,434.5 KT in 2014 to 2,324 KT in 2015. In addition to this, Asia Pacific region is also expected to witness growth over the forecast period, owing to increasing demand for olive oil from countries such as India and China. The growth is accelerated by changing lifestyle and inclining consumer preference towards healthier products. In India, there are numerous brands, which supply olive oil to retail customers who demand low fat oils in large volumes.
  • Major players operating in the global olive oil market include Cargill, Inc., SOVENA, DEOLEO, COLAVITA S.p.a., Olivezia, Stone Axe Estate, PORTTABLE Produtos Alimentares, Lda., Castello di Albola, Planeta, Empresa Esporão S.A., and Domaine De Marquiliani (Kermit Lynch Wine Merchant)

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