Global Olive Oil Market Size, Shares, Growth, Segments, Industry Analysis & Outlook 2022-2028
A recent report by Infinium Global Research dives deep into the olive oil market, analyzing its various segments and sub-segments across the globe and within individual regions. It explores the short-term and long-term impact of factors like market drivers, restraints, and even economic indicators. The report provides a comprehensive picture of the olive oil market's trends, forecasts, and overall market value.
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Olive oil, extracted from olives, boasts a wealth of health-promoting fatty acids like oleic, palmitic, and linoleic acid. This versatile oil, not only a culinary favorite but also a source of nutrition, offers a variety of benefits. Its profile includes monounsaturated fats, vitamins D and K, and a generous number of antioxidants. Beyond its role in cooking, olive oil finds applications in skincare and personal care products due to its hydrating and exfoliating properties.
Looking ahead, the market for olive oil is expected to thrive due to the growing trend of incorporating nutrient-rich oils into our diets. Increased consumer awareness of these health benefits is another anticipated driver of market growth. Furthermore, the rising popularity of artisanal, raw, and cold-pressed culinary oils is projected to propel the industry forward.
However, the market for olive oil isn't without challenges. The easy availability of affordable substitutes with perceived similar health benefits can hinder growth. Canola, sunflower, and coconut oil, all rich in essential fatty acids, are gaining traction among consumers due to their lower price point compared to olive oil. Additionally, fluctuations in olive oil prices can further slow market expansion.
Europe leads the market's growth, largely due to its extensive olive tree cultivation and production. Countries like Italy and Spain are the primary producers and exporters of olive oil, supplying it to various nations worldwide. The European food manufacturing sector has witnessed a surge in demand for olive oil, fueled by the growing popularity of functional foods. This trend is primarily driven by consumers' busy lifestyles and their desire for healthy oils to combat lifestyle diseases.
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Research highlighting the health benefits of olive oil consumption has significantly accelerated regional development. Moreover, the rising popularity of dietary supplements for overall health and wellness has increased demand for olive oil in the region's nutraceutical and pharmaceutical industries.
Market Segmentation:
The Infinium Global Research report segments the olive oil market based on type and end-user. The type of segment is further divided into virgin, refined/pure, and other categories like lampante and pomace oil. When it comes to end-users, the market caters to households/retail, foodservice/hotels, restaurants, and cafes (HoReCa), and food manufacturing sectors.
Market Dynamics:
- Healthier Fats: People are learning more about the benefits of monounsaturated fats (MUFAs) and omega-3s for heart health and overall well-being. Olive oil is a great source of both, making it a popular choice.
- Culinary Craze: Ethnic Mediterranean food is taking the world by storm! Dishes from Italy, Greece, and Spain all feature olive oil prominently. As people travel more and become more adventurous eaters, the demand for olive oil keeps growing.
Companies Profiles
- Cargill, Incorporated
- Deoleo, S.A.
- Del Monte Foods, Inc
- Gallo Worldwide
- Borges International Group
- Avenida Rafael Ybarra
- Sovena Group
- Tucan Olive Oil Company LTD
- Domenico Manca S.P.A.
- Pompeian, Inc.
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