The Olive Oil is to reach $16.8 Billion by 2030; Growing trend towards the increasing health consciousness among consumers and rising demand for healthy cooking oils propels market growth.

 

The Olive Oil size is estimated to reach $16.8 billion by 2030, growing at a CAGR of 5.3% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Olive Oil – By Source (Organic, Non-Organic), By Type (Virgin Olive Oil (Extra Virgin Olive Oil, Virgin Olive Oil, Ordinary Virgin Olive Oil, Lampante Virgin Olive Oil), Refined Olive Oil, Pomace Olive Oil(Crude Olive Pomace Oil, Refined Olive Pomace Oil), Others), By Application (Pharmaceutical Industry (Salves, Plasters and Enemas, Active Ingredients, Soft Gelatin Capsules, Nose Sprays, Others), Food Industry (Bakery, Confectionary, Breakfast Cereals, Others), Cosmetic and Personal Care, Pet Foods, Soaps & Lubricants, Others), By Packaging (Tins, Bottles, Others), By Distribution Channels (Supermarkets/Hypermarkets, Convenience Stores, Online Channel, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”.

Europe accounted for the largest share of 39% of the Olive Oil in 2023 followed by North America and Asia-Pacific. As, Europe boasts the highest concentration of olive tree cultivation and production globally, this strong foundation fuels market growth within the region. Additionally, European consumers are increasingly discerning, seeking out high-quality olive oil varieties like Extra Virgin Olive Oil (EVOO) due to its perceived health benefits, this trend presents an opportunity for premium olive oil producers. Furthermore, while consumption is traditionally higher in Western Europe, Eastern Europe is experiencing the fastest growth rate in olive oil consumption, offering new market opportunities.

The rise in health consciousness is a powerful driver for the olive oil market, influencing consumer choices and market trends. Olive oil is widely recognized for its health benefits, particularly its richness in monounsaturated fats, consumers seeking healthier lifestyles and preventative healthcare measures are increasingly turning to olive oil. Additionally, the popularity of the Mediterranean diet, known for promoting longevity and overall health, has significantly boosted olive oil consumption, this diet emphasizes olive oil as a primary source of fat, further solidifying its image as a health-conscious food. Furthermore, consumers are willing to pay a premium for products perceived as healthier, the association of olive oil with health benefits contributes to its positioning as a premium cooking oil, further fueling market growth.

The rise of e-commerce and its innovative solutions are significantly impacting the olive oil market, creating new growth opportunities. E-commerce platforms offer detailed product descriptions, origin information, and even producer stories, this empowers consumers to make informed choices based on quality, certifications, and brand values. Olive oil producers can leverage e-commerce to sell directly to consumers, eliminating intermediaries and potentially offering more competitive pricing. Furthermore, modern e-commerce logistics ensure faster and more efficient delivery of olive oil, even for fragile glass bottles, by offering greater access, transparency, and convenience, e-commerce innovation is driving growth in the olive oil market.