Olive Oil Market Overview:
According to a study conducted by Harvard Health in the year 2016, eating a diet rich in saturated fats can increase the risk of death from cardiovascular diseases, cancer, and dementia by 8 per cent. Inadvertently, health experts worldwide are asserting the need to consume fats that are monosaturated, and healthier. Olive oil is one such fat that is that has invariably been included in some of the healthiest diets in the world, an important factor that is driving the olive oil market growth currently. IndustryARC experts have estimated $8 billion to $8.4 billion as the olive oil market size in the year 2018. According to them, the market is also poised to grow with a standard CAGR of 2.5%-3.5% during the forecast period of 2019-2025. Europe, the country credited for the origination of olive oil still, lead the demand geographically with a regional share of 35%-38% as of 2018. Mild winters, and a temperate climate in Europe has made olive cultivation thrive in the country, and helped build a versatile industry around it.
Olive Oil Market Outlook:
Olive oil is derived from its namesake fruit through a popular concept called ‘pressing.’ This product has many culinary uses like being used as a salad dressing, or for deep frying. It is also being utilized in pharmaceutical and cosmetics purposes for its medicinal properties. Since this oil is rich in monosaturated fatty acids like oleic acid, it is recommended by dieticians throughout the world for incorporation in daily diets. Olive oil market’s leading segmentation by application is in the food industry. This segment is estimated to grow with a normal CAGR of 2%-3% during the forecast period of 2019-2025. Olive oil is often termed as the ‘green gold’ of the Mediterranean region owing to the purity of its content, and the economic upliftment it has provided to the citizens of European countries especially those of Italy, and Greece.
Olive Oil Market Growth Drivers:
- Olive Oil Is The Healthiest Fat In The World
In a world that is consistently experiencing a deterioration in people’s lifestyles, and the food that we consume, eating healthier versions of our daily staples is the need of the hour. Extra virgin olive oil is highly recommended by health experts throughout the world for its monosaturated fat content which stands at 73%, and omega-6 at 9.7%. It also has anti-inflammatory properties, which helps with chronic inflammation which is the leading cause of cardiovascular diseases. Inadvertently, it is becoming a primary choice of essential fat especially for people suffering from obesity/overweightness. Increased sales due to these characteristics factor largely in the growth of the olive oil market.
- Urbanization, and a perpetual increase in disposable income
As the world continues to progress towards increased urbanization, the global public is inching closer to more accessible, and convenient places like super markets, and diverse restaurants. Exposure to such places introduces general public to exotic products like olive oil, and dishes made out of it. Perpetual increase in disposable income, and a growing awareness for fitness fuel the olive oil market growth by exhorting people to buy its product.
Olive Oil Market Challenges:
One of the greatest challenges currently faced by the olive oil market is dropping sales because of poor harvesting conditions. As the world proceeds towards having a warmer climate throughout the year due to global warming, cultivation of olive oil suffers massively. Greeks, on the other hand are resorting to look for different occupational opportunities instead of olive oil production. Greece being a leading region for olive oil production, is hardly able to make profits out of it due to lack of proper packaging market. Italy, on the other hand imports Greece’s produce, thus making a name for itself in the global olive market.
Controlled environments for olive oil production, and an enhanced packaging machinery market in the countries that are lacking in it are prominent ways to deal with these challenges.
Olive Oil Market Key Players Perspective:
One of the world’s finest olive oil companies Jaencoop merged with Olivar de Segura in February, 2019 in order to become the world’s second largest olive oil producer. Jaencoop is set to get inspired by the packaging trends of Olivar de Segura, and the latter with benefit from Jaencoop’s fine olive oil production techniques. This symbiotic relationship will provide both the companies with a better position in the global olive oil market.
IndustryARC analysts have analyzed the current global olive oil market, and listed some of the top companies currently leading, some of which are Lamasia, Sovena Group, Gallo, Grup Pons, Maeva Group, Ybarra, Jaencoop, Deoleo, Carbonell, Hojiblanca, and Mueloliva.
Olive Oil Market Trends:
- Finding Its Place In The Cosmetic Industry
Olive oil market is set to move beyond its culinary footprint, and enter the cosmetics industry. Around the world, people have found olive oil to be quite useful for cosmetic purposes. Companies are now using olive oil in soaps, shampoos, creams, and products likewise. Extra virgin olive oil is not just being sold for cooking, but for unadulterated application on skin, and hair. These factors have helped both the olive oil market, and the cosmetics industry for attaining growth.
Olive Oil Market Research Scope
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the olive oil market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of cheese in the olive oil market, and their specific applications in different areas.
Olive Oil Market Report: Industry Coverage
Olive oil market will not be stagnant, and continue to reach stratospheric levels of growth. It can be segmented on many bases, prominent ones being type, packaging, and application. On the basis of type, it can be segmented into organic, and inorganic. Based on packaging, the market can be bifurcated into tins, and bottles. And application divides the market into skincare, cooking, pharmaceuticals, and others.
The olive oil market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Key Questions Addressed in the Olive Oil Market Report
Is the market demand for Olive Oil growing? How long will it continue to grow and at what rate?
Which type of home security system presents the major growth opportunities?
Is there a possibility for change in the market structure over time?
Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
What are the short-term, long-term, and medium-term growth drivers for the market?
What are the short-term, medium-term, and long-term challenges for the market?
What are the short-term, medium-term, and long-term opportunities for the market
Who are the top players/companies of the market?
What are the recent innovations in the market?
How many patents have been filed by the leading players?
What are the types of patents filed by the leading players?
What is our Vision 2030 for Olive Oil market?
A Few Focus Points Of This Research Are Given Below:
- Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
- Provide an overview of the product portfolio, including product planning, development, and positioning
- Discuss the role of technology companies in partnerships
- Explore the regional sales activities
- Analyze the market size and giving the forecast for current and future global Olive Oil market during the forecast 2018–2023
- Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures