Global Olive Oil Market Size Study, by Type (Virgin, Refined/Pure, Others), by End-User (Households/Retail, Foodservice, Food Manufacturing, Others), by Distribution Channel (Offline, Online), and Regional Forecasts 2022-2032

Global Olive Oil Market is valued at approximately USD 14.64 Billion in 2023 and is anticipated to grow with a healthy growth rate of more than 3.42% over the forecast period 2024-2032. Olive oil, especially extra virgin, is known for its monounsaturated fats and antioxidants, which are associated with numerous health benefits, including a reduced risk of heart disease and decreased inflammation. The market is experiencing robust growth primarily due to increasing demand for olive fruit oil across the food service and retail channels. In addition, the growing interest in trying out exotic cuisines has contributed to the increased popularity of Olea europaea fruit oil across various regions in the world. Olea europaea fruit oil is an integral part of a Mediterranean diet owing to its several health benefits. The rising awareness regarding its health benefits is attributed to its omega-3 fatty acid content, which is surging its demand. Thus, in recent years, this oil has been extensively utilized as an ingredient in the manufacturing of dietary supplements and pharmaceuticals.

The demand and sale of oil made from olives experienced a sudden slump due to the outbreak of the COVID-19 pandemic. Nationwide lockdowns in various countries resulted in the disruption of trade activities, which slowed the growth of the industry. According to the U.S. Census Bureau, olive oil imports by the U.S. decreased by 13% in 2020 compared to those in 2019. However, increased concerns related to immunity and overall health have re-established the demand for healthy oils, a trend expected to continue during and after the pandemic.

The growing consumer interest in raw, natural, and cold-pressed cooking oils, as they are attributed to be safer and healthier in comparison to their processed counterparts, has supported the market's growth. Edible oils that are minimally processed and manufactured under such claims are perceived to be free from any detrimental chemicals. With little to no processing involved, it helps in retaining all the nutritive value, making it healthier. Moreover, the demand for virgin and extra virgin olive oils has been fueled in recent years as they are minimally processed and have a stable fatty acid profile. Cold-pressed virgin oils have witnessed a surge in demand due to their clean flavor and unaltered organoleptic properties, which aid in further driving the market expansion. Furthermore, the growing environmental sustainability concern worldwide is likely to surge the demand for edible olive fruit oil, which is natural and minimally processed, in the foreseeable years.

The key regions considered for the Global Olive Oil Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Global Olive Oil Market in terms of revenue. The market growth in the region is being attributed to factors including the highest olive tree cultivation and production in the region. Spain and Italy are the primary countries producing and supplying Olea europaea fruit oil to various countries in other regions. The growing popularity of functional foods has increased the demand for Olea europaea fruit oil across the food manufacturing industry in Europe. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by increasing discretionary incomes and heightened awareness of the health benefits of olive oil, allowing consumers to invest in wellness-promoting healthcare products. Additionally, the trend of dining out and exploring Mediterranean cuisine is expected to further propel market growth. The rising popularity of functional foods and beverages in the region also contributes to the growing demand for omega-3 fatty acid-fortified products.

Major market players included in this report are:

• Sovena Group (Portugal)
• Deoleo S.A. (Spain)
• Borges International Group (Spain)
• Salov SpA (Italy)
• Cargill, Inc. (U.S.)
• Conagra Brands, Inc. (U.S.)
• California Olive Ranch (U.S.)
• Pompeian (U.S.)
• Del Monte Foods, Inc. (U.S.)
• Modi Natural Ltd. (India)
• Genosa (Spain)
• Certified Origins (Italy)
• Curation Foods, Inc. (U.S.)
• Pietro Coricelli (Italy)
• Bellucci Premium (Italy)

The detailed segments and sub-segment of the market are explained below:

By Type:

• Virgin
• Refined/Pure
• Others

By End-User:

• Households/Retail
• Foodservice
• Food Manufacturing
• Others

By Distribution Channel:

• Offline
• Online

By Region:

• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• Saudi Arabia
• South Africa
• RoMEA

Years considered for the study are as follows:

• Historical year - 2022
• Base year - 2023
• Forecast period - 2024 to 2032

Key Takeaways:

• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.