Renub Research has recently released a report named “Olive Oil Market, Size, Global Forecast 2023-2028, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis” providing a detailed industry analysis that consists of market share insights. In addition, the report covers research on competitors and areas and current advancements in the Olive Oil Market. The Olive Oil Market shall expand at a CAGR of 6.48% from 2022 to 2028. Olive oil is a highly nutritious food with numerous health benefits, including reducing the risk of heart disease, improving brain function, and reducing the chances of chronic diseases such as cancer and Alzheimer’s. Its versatility makes it suitable for cooking, salad dressings, and dips, and it has a long shelf life and is widely available in many parts of the world.
The growing awareness of its benefits, as well as the increasing popularity of Mediterranean cuisine and gourmet foods, has contributed to the growth of the olive oil market. Additionally, the use of olive oil in personal care and cosmetic products, due to its moisturizing and antioxidant properties, has also driven market growth. Finally, the growth of online platforms and e-commerce channels has made it easier for consumers to access a broader range of olive oil products worldwide, further driving market growth. As a result, the olive oil market is expected to continue growing as consumers increasingly prioritize healthy and premium food choices.
Olive oil is known to have many health benefits due to its high content of monounsaturated fatty acids and antioxidants. It has been traditionally used in Mediterranean cuisine and is now widely used around the world in various cuisines. In addition to its use in cooking and as a dressing, the cosmetic industry has also recognized the benefits of olive oil for skincare and haircare products. The antioxidants present in olive oil protect the skin from free radical damage and reduce inflammation, which can lead to premature aging of the skin. It also helps to keep the skin moisturized and hydrated, making it an excellent ingredient in moisturizers, lotions, and other skincare products. Olive oil is also good for hair care, as it nourishes and moisturizes the hair, making it smoother and shinier. It can be used as a conditioner, a hair mask, or even as a styling product to control frizz and add shine.
Consumption of olive oil has witnessed a significant rise in the EU 27
The EU27 dominates the olive oil market due to several factors, such as the region’s suitable climate for olive cultivation, the historical tradition of olive oil production, and favorable government policies. As a result, the EU27 countries, particularly Spain, Italy, and Greece, are major producers of olive oil and account for a significant share of global production. Additionally, the EU27 has strict quality and production regulations, which ensure that the olive oil is produced in the region is of high quality and meets international standards. As a result, the EU27 is recognized as a premium olive oil producer, with consumers worldwide willing to pay a premium price for olive oil products from the region.
Consumption–Olive Oil Market Analysis have been Covered from 11 Viewpoints
5. Syrian Arab Republic
Europe is the highest producer of Olive Oil in the world
The European continent’s maximum production of olive oil is due to several factors, including favorable climatic conditions, suitable soil types, advanced cultivation techniques, and the long-standing tradition of olive oil production. Spain, Italy, and Greece, are among the world’s largest olive oil-producing countries, collectively account for a significant share of global olive oil production. Furthermore, the high demand for olive oil in the European market for both consumption and use in the food and cosmetic industries drives its maximum production.
Production–Olive Oil Market Analysis have been Covered from 11 Viewpoints
5. Syrian Arab Republic
United States has attained the largest market share in olive oil import due to increasing product consumption
Several factors contributes to the dominance of the United States in olive oil imports, such as the growing cognizance of the health benefits of consuming olive oil, the popularity of Mediterranean cuisine, the increasing demand for premium quality olive oil, and the abundance of distributors and retailers in the country. Additionally, the US has a large population of health-conscious consumers willing to pay a premium price for high-quality olive oil. The government also has a well-developed logistics infrastructure and efficient supply chain, making transporting and distributing olive oil easier for importers.
Import–Olive Oil Market Analysis have been Covered from 11 Viewpoints
1. United States
9. Russian Federation
10. Saudi Arabia
Spain is the largest exporter in the olive oil market
Spain has a favorable climate for olive cultivation, with over 300 million olive trees sowed across the country. Additionally, Spain has a long history of olive oil production and has developed advanced cultivation and production techniques, making it a leader in the industry. Spain also has a robust infrastructure for olive oil production, with many mills and processing plants. Furthermore, Spain has made significant investments in marketing and promoting its olive oil exports, helping it expand its market share in countries worldwide. Finally, Spain benefits from its membership in the European Union, which gives it access to a large and growing market for olive oil.
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Export–Olive Oil Market Analysis have been Covered from 11 Viewpoints
4. Syrian Arab Republic
8. United States
Virgin olive oil will keep growing in the coming years
The rising consumer consciousness of the health benefits of virgin olive oil, a rise in demand for premium and organic food products, and the growing popularity of Mediterranean cuisine across the globe add to the growth of virgin olive oil. Additionally, the adoption of advanced production techniques and sustainable farming practices by key players in the industry has led to increased production of high-quality virgin olive oil, further driving its growth in the olive oil market.
Type–Olive Oil Market Analysis have been Covered from 11 Viewpoints
1. Extra Virgin Olive Oil
2. Virgin Olive Oil
Food and beverage industry holds the maximum share of the olive oil market
The food and beverage industry has the largest market share due to the availability of a wide range of olive oil brands, leading to increased consumer demand. Furthermore, consumers’ desire for a healthy lifestyle has increased the demand for olive oil in various food items.
Industry–Olive Oil Market Analysis have been Covered from 3 Viewpoints
1. Food and Beverages
The report covers several key players in the olive oil market, including Modi Naturals, Cargill, Inc., Bunge Limited, Conagra Brands, and Semapa.
All key players have been covered from 3 viewpoints
2. Recent Developments
1. Cargill Inc.
2. Modi Naturals
4. Bunge Limited
5. Conagra Brands
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