According to a recent business intelligence report by IndustryARC, Spain is the largest producer of olive oil, followed by Italy and Greece. Further research concludes that imports of olive oil in crop year (October 2016 – July 2017) was an increase of 25% in Brazil; 20% in Australia; 10% in China; 8% in Russia; 1% in Canada, and stable figures in Japan. The report is titled “Olive Oil Market: By Type (Virgin Olive Oils, Refined Olive Oil, Olive Oil); By Pack Type (Tins, Bottles); By Category (Organic, Non-Organic); By Application & By Geography – Forecast (2018-2025).”
The market is segmented based on type into virgin, pomace, and refined, and application-wise into food, beverage, personal care, and pharmaceuticals.
Olive oil is a viscous liquid extracted from olive fruits by pressing method. Consumption of olive oil is considered healthy as it is associated with a lower risk of heart diseases and certain cancers including colorectal and breast cancer. Due to low smoke point of olive oil, it can be consumed raw. 73% of the fat in olive oil comes from oleic acid with small amount of fatty acid, a type of monounsaturated fat that helps to lower inflammation and prevents from unwanted blood coatings.
Increasing consumer awareness toward nutrition value and taste associated with olives oil has raised the demand in the market. In addition, when compared to other traditional oils, olive oil has several other health benefits such as lower blood pressure and cholesterol, which is further expected to increase the demand for olive oil as the awareness along with disposable income increments among urban populations of emerging economies. Olive oil market gains high demand during winters as physicians prescribe the use of olive oil to adolescents as it helps relieve cough and respiratory congestion. Extra virgin oil is extracted from cold pressed process without chemical intervention, which makes it the purest form of olive oil, and hence it is anticipated to have higher value sales in the near future.
Furthermore, the growing acceptance of olive oil in culinary uses is likely to increase its market demand for food and beverage applications. Food and beverages market players are strengthening their value chain by collaborating with retailers, wholesalers, and supermarkets as well as expanding their presence online on the back of thriving ecommerce industry. Moreover, personal care and cosmetics products are blended with olive oil extracts has gained market acceptance owing to the skin benefits. It helps to maintain skin quality and cures crack heels. It is an antioxidant agent hence used in antiaging cream as well. This is carving new niche in the olive oil market.
Browse through 152 slides and an in-depth TOC on “Olive Oil Market (2018 - 2023)”
Efficient farming techniques developed by the market players which are effectively increasing the production of olives is estimated to provide impetus to the market growth during the forecast period. Growing ecological concerns are prompting the need for sustainable food options that have the lower impact on the environment. Increasing health concerns among consumers are switching from butter and other oils to olives oil for their meals such as salad dressing. Increasing demands for extra virgin olive oil by cold pressed process is providing employment in urban and rural areas.
Olive oil widely used by different sectors such as pharmaceutical, food and beverage due to lots of health benefits associated with it. It helps reduce cholesterol, blood pressure and other diseases are some factor increasing the demand of it in the market. Key players are developing several equipment and researching innovative products to poise for profitable future.
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KSA And Levant Retail Edible Oil Market: By Type (Canola, Corn, Sunflower, Soybean, Coconut, Olive, Palm); By Channel (Supermarket/ Hypermarket, Convenience Store, Specialty Store, Online Retail and Others) and By Geography - Forecast(2018 - 2023)
Edible Oil Market - Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast 2018 - 2025
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