Farmington, Feb. 27, 2023 (GLOBE NEWSWIRE) -- The Global Olive Oil Market Size Was Valued At USD 13.77 Billion In 2021. The Market Is Projected To Grow From USD 14.19 Billion In 2022 To USD 17.79 Billion By 2030, Exhibiting A CAGR Of 3.28% During The Forecast Period. The COVID-19 pandemic has been frightening and has never happened before. In all areas, the demand for olive oil is smaller than expected compared to what it was before the pandemic. Based on what we found, the world market dropped by 2.78 percent between 2019 and 2020.
The main reason for the market's strong growth is that restaurants and food stores are using olive fruit oil more and more. Olea europaea fruit oil has also become more famous in many places because people want to try new and different foods. Olea europaea olive oil is an important part of a Mediterranean diet because it is good for your health in many ways. People are learning that it is good for their health because it has omega-3 fatty acids. This will make more people want it in the years to come. So, in the past few years, olive fruit oil has been used a lot as an ingredient in dietary supplements and drugs.
Request Sample Copy of Report “Olive Oil Market Size, Share & Trends Estimation Report By Type (Refined/Pure, Virgin, and Others), By End-user (Household/Retail, Foodservice/HoReCa, Food Manufacturing, and Others), By Region, And Segment Forecasts, 2023 - 2030”, published by Contrive Datum Insights.
Recent Developments:
- February 2022 – Curation Foods, Inc., under the brand O Olive Oil & Vinegars, launches a batch of Olio Nuovo Extra Virgin Olive Oil, a fresh, intensely flavored seasonal oil.
- June 2021 - Pietro Coricelli, an Umbrian olive fruit oil producer and one of the world's largest and most widely distributed olive fruit oil brands, will join the IBM Food Trust to track extra virgin olive fruit using blockchain technology. announced that it would. Oil.
- January 2021 – Del Monte Foods, Inc. of India launched 1 liter olive fruit oil pouches at competitive prices to make healthy cooking oil affordable.
Segment Overview
Type Insights
People are learning more about how good fresh olive oil is for their health, which is making it more popular. This is likely to boost sales in the segment of pure olive oil. Omega-3 and oleic acid, which are both in virgin oil, help avoid lifestyle-related diseases like obesity and heart disease. New ways of processing and technological breakthroughs that make it easier for manufacturers to process virgin oils with the most nutrients in an efficient way also help the market grow.
The market for pure/refined olive oil is projected to grow a lot because it is being used more and more in the beauty, health, and pharmaceutical industries. High-value animal feed needs a lot more olive fruit oil because more people want animal feed with more nutrients.
End-user Insights
Most of the growth in the market is due to more people using olive oil to cook at home. As more people learn that olive fruit oil can help them stay healthy, the demand for different kinds of olive fruit oil in stores has grown greatly. People like to eat natural oils that haven't been changed much, so cold-pressed fresh olive oils are in high demand.
Olea europaea fruit oil is very popular in the food service business because it makes food taste and feel better without making it unhealthy. Most food service stores have chosen this oil over others because customers want to eat their favorite foods without sacrificing taste.
Many foods, mostly healthy snacks, are made with olive fruit oil. Since more and more people want healthy snacks, companies have had to add things like olive fruit oil that are high in nutrients to make the end product more valuable. Olea europaea fruit oil has also been used a lot to give animals more of the nutrients they need in their food and drugs. More and more people are using cosmetics with omega-3 to improve the health of their skin and hair, so the market is expected to grow in the coming years.
Regional Outlook:
In Europe, the market was worth USD 6.98 billion in 2021. Europe has the most olive trees and makes the most olive oil, which is why its market is growing so quickly. Italy and Spain are the main places in the world that make Olea europaea fruit oil and sell it to other places. In Europe, more Olea europaea fruit oil is needed in the food business because functional foods are becoming more popular.
In North America, the market is mostly driven by people's growing interest in healthy oils that help them avoid health problems caused by their busy lives. Studies that show how healthy it is to eat olive fruit oil have led to a lot of progress in the area. In the area, there is more demand for Olea europaea fruit oil because more people are taking dietary supplements to keep their general health and wellness in good shape.
Asia-Pacific is the area with the most growth. It has a lot of promise for the olive fruit oil business and is expected to grow faster than the rest of the world. The market is growing because more people are learning about their health benefits and because people have more money to spend on health goods that make them feel better. More people are eating out and trying Mediterranean food, so the market is expected to grow even more. Omega-3 fatty acid-rich foods are becoming more common in the area because more people are eating and drinking functional foods and drinks.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 3.28% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 17.79 Billion |
| By Waste Type | Refined/Pure, Virgin, Others |
| By End-user | Household/Retail, Foodservice/HoReCa, Food Manufacturing, Others |
| By Companies | Salov SpA (Italy), Deoleo S.A. (Spain), Conagra Brands, Inc. (U.S.), Sovena Group (Portugal), Del Monte Foods, Inc. (U.S.), Cargill, Inc. (U.S.), California Olive Ranch (U.S.), Pompeian (U.S.), Modi Natural Ltd. (India), Borges International Group (Spain) |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Latest Trends:
Adding more nutrient-rich oils to the diet to lower the risk of some health problems
Most of the rise of the market is due to the trend of switching to healthier oils as a way to stay healthy and well. People are more likely to eat healthy food oils now than they were a few years ago. This is because health problems caused by how people live their lives have become more common. People are more likely to be overweight or have heart problems because they are stressed out and don't move around much. Most people want nutrient-rich oils because they are learning that eating fats and oils is highly linked to high blood pressure and coronary heart disease.
Driving Factors:
More people knowing that the goods are good for their health will help the market do well.
People are getting more fats and oils with MUFAs because they know how good for their health they are. Several recent clinical studies have shown that eating foods high in omega-3 fatty acids can help with heart health and other body processes. Now that people know how important it is to get enough essential fatty acids for good health, they are getting more olive fruit oil. This is because there are a lot of omega-3s in olive fruit oil. Olive fruit oil has become a very famous healthy oil around the world because it has healthy fatty acids, antioxidants, and vitamins.
Restraining Factors:
If there are low-cost options to edible oil on the market, the market will move more slowly.
Olive fruit oil doesn't grow as quickly as it could because it costs a lot. People are looking for healthy oils that cost less than Olea europaea plant oil but are just as good for them. More and more people are using oils like canola, sunflower, coconut, and others because they are high in important fatty acids, which are good for your health in general. Because of this, the companies that make these goods have put money into new technologies that help keep the most important parts. When the oils are made, very few nutrients are lost. People wanted to use rice bran and sunflower oils instead of olive fruit oil because of this. Also, it costs less money to make sunflower oil and other vegetable oils than olive oil, which makes it harder for the olive oil business to grow.
Key Segments Covered:
Top Market Players:
Salov SpA (Italy), Deoleo S.A. (Spain), Conagra Brands, Inc. (U.S.), Sovena Group (Portugal), Del Monte Foods, Inc. (U.S.), Cargill, Inc. (U.S.), California Olive Ranch (U.S.), Pompeian (U.S.), Modi Natural Ltd. (India), Borges International Group (Spain), and others.
By Type
- Virgin
- Refined/Pure
- Others
By End-user
- Households/Retail
- Foodservice/HoReCa
- Food Manufacturing
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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