Global Olive Oil Market: Demand Analysis and Growth Forecast
In the U.S, more than 30 million of the population have diabetes, out of which 90% to 95% of them are suffering from type 2 diabetes as per Centres for Disease Control and Prevention report 2017. The Mediterranean diet that is rich in olive oil, low saturated fats, moderately rich in carbohydrates, and soluble fibre from fruits, vegetables, and grains are the most effective approach to reduce the risk of type 2 diabetes over 40% in people. This aids to lower bad low-density lipoproteins to improve blood sugar control and enhance insulin sensitivity of diabetes patients. The olive oil is a monounsaturated fatty acid which is also found to lower total cholesterol and low-density lipoprotein cholesterol levels. The
is experiencing significant growth in the cosmetics industry. Olive oil is a key ingredient in moisturizing and in hydrating skin. Moreover, these oils are mainly used as ingredients in face wash products as well as to reduce acne on the skin.
Olive oil is rich in oleic acid and antioxidants which lower the risk of chronic and heart diseases and reduce inflammations. The growing awareness regarding health benefits associated with its consumption increases the demand for olive oil among consumers. Virgin varieties of olive oil will offer the greatest health benefits as they retain most of the nutrients from the olive fruit. A newly compiled market research report from IndustryARC, 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 (2019-2025),” has estimated the global olive oil market size to be around $8 to $8.4 billion in 2018 and foreseen the opportunities to grow at a CAGR of around 2.5% to 3.5% during the forecast period 2019 to 2025.
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Olive Oil Market (2019 - 2025)”
Olive Oil Market: Leading Segments
According to the analyst of the IndustryARC research report, Europe dominated the demand in 2018 with a share of around 35% to 38%. The growing demand for organic and virgin olive oil, the rising number of organized retailing outlets, and increasing imports and exports are the factors driving the growth of the olive oil market in this region. Foodservice application was the leading type segment in 2018 and is estimated at a CAGR of around 2% to 3% in the global olive oil market during the forecast period. Growing usage of olive oils in preparing a variety of foods such as deep frying, salad dressing to lower the cholesterol levels in the body, which will propel the growth of the market in foodservices. Cooking food using olive oil will protect people from heart diseases, lower lipoprotein cholesterol levels, and reduce risks in diabetes patients. These aforementioned benefits of olive oil in the health sector will enhance the growth of the olive oil market.
Olive Oil Market Trends
- Packaging innovations in olive oil - this edible oil packaging and aerosol packaging provide the reduction of oxygen in the packaging headspace and light exposure are key factors in lowering lipid oxidation and off-flavour development, thus keeps quality.
- Ultrasound is one of the main emerging technology widely used to enhance oil extraction. This method induces to release oil easily from vacuoles with a considerably lower malaxation time, higher oil quality, and yield.
Olive Oil Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the global olive oil market are: Lamasia , Sovena Group , Gallo , Grup Pons , Maeva Group , Ybarra, Jaencoop , Deoleo , Carbonell , Hojiblanca, and Mueloliva.
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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)
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