The global olive oil market is expected to be valued at US$ 13.79 billion in 2023 and reach a valuation of US$ 18.35 billion by 2033. The demand for olive oil is estimated to record a steady 2.9% CAGR.
Increasing Nutrient-rich Oil Intake in Diet to Lower the Risk of Health Conditions
The market is expanding primarily due to the trend of maintaining overall health and wellness by switching to healthier oil options. Due to the rise in lifestyle-related illnesses, consumers' propensity to include healthy vegetable oils in their regular diets has increased recently. Obesity and cardiovascular diseases are now more common due to today's consumers' stressful and sedentary lifestyles. The growing understanding of the strong correlation between dietary fat and oil consumption and hypertension and coronary heart disease primarily drives the demand for nutrient-rich oils.
While buying oil products, consumers pay more attention to the claims made on the label. Vegetable oils with specific health claims, such as high vitamin E, omega-3, and MUFA (monounsaturated fatty acids), are becoming more popular as people become aware of overall health benefits. The product's high MUFA and antioxidant content support the heart's normal operation.
Olive oil is a popular and healthy cooking oil, but its high price is a significant market barrier. Plant-based oils like canola and corn oil have a huge price advantage over olive oil because they are much less expensive. Additionally, many suppliers are vying for market share in the highly competitive global olive oil market. This intense competition further reduces prices and margins.
The Mediterranean Basin is one of the few places where olive oil is primarily produced. This makes the market susceptible to shocks brought on by the weather and other production interruptions. For instance, a protracted drought in Spain, one of the leading producers of olive oil, could increase the cost and cause a shortage of this vital component.
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| Attribute | Details |
|---|---|
| Olive Oil Market CAGR (2023 to 2033) | 2.9% |
| Olive Oil Market Size (2023) | US$ 13.79 billion |
| Olive Oil Market Size (2033) | US$ 18.35 billion |
Principal Consultant
The global consumption of olive oil is anticipated to expand at a CAGR of 2.9% between 2023 and 2033. The growth potential of olive oil market could be looked at from short-term, mid-term, and long-term perspectives.
| Outlook | Details |
|---|---|
| Short-term Outlook (2023 to 2026): |
|
| Mid-term Outlook (2026 to 2029): |
Technological advancements in the production and distribution of olive oil have helped to improve the quality and consistency of the product, making it more appealing to consumers |
| Long-term Outlook (2029 to 2033): |
Consumers are increasingly seeking out natural and organic products, and olive oil is perceived as a healthier and more natural alternative to other oils. |
With surging small and medium-sized producers, the global olive oil market is highly competitive and fragmented. The top three producers, Spain, Italy, and Greece, account for around 56% of global production.
The European Union is the world's leading producer and consumer of olive oil, accounting for more than 60% of global output. Spain is the leading producer, accounting for nearly 56% of total output, followed by Italy (17%), Greece (15%), and Portugal (9%).
Tunisia and Morocco are Africa's key producers, accounting for roughly 40% and 35% of total production, respectively.
Growing health consciousness among consumers has led to an increased demand for healthier food products, such as olive oil, which is perceived as a healthier alternative to other oils.
The United States has seen a significant increase in olive oil imports in recent years, which indicates the growing demand for the product in the country. Producers have expanded their product offerings to include different grades and varieties of olive oil, which has increased the availability of the product and made it more accessible to a wider range of consumers. The popularity of Mediterranean cuisine and the use of olive oil in cooking and as a finishing oil has contributed to the growth of the olive oil market in the United States.
Factors affecting market position of key players in the United Kingdom:
Despite these uncertainties, the United Kingdom has a well-established reputation for producing high-quality olive oil and has a strong market position. However, producers in the United Kingdom need to remain vigilant and adapt to changes in the market to maintain their dominance in the future.
The rise of the middle class in China has led to an increase in disposable income, which has led to an increase in the demand for high-quality, premium products such as olive oil.
China has seen a significant increase in olive oil imports in recent years, which indicates the growing demand for olive oil in the country. Many olive oil producers have established strategic partnerships with China-based companies to better reach the China market, which has helped to increase the visibility and availability of olive oil in the country.
India has the potential to become a lucrative market for olive oil due to several factors, such as a growing middle class, increasing health consciousness among consumers, and the rise of western-style food habits. The demand for olive oil has been growing steadily in India as consumers are becoming more aware of its health benefits and the oil's versatility in cooking. However, the olive oil market in India is still in its nascent stages and faces several challenges, such as limited availability, high costs of olive oil, and lack of awareness about health.
The domestic production of olive oil in India is also limited, where the substantial supply comes from imports. This makes the market heavily dependent on imports, which can impact the price and availability of oil.
Despite these challenges, the potential for growth in the Indian olive oil market is significant, and many companies are looking to tap into this growing market. As the demand for olive oil continues to grow and production increases, India has the potential to become a lucrative market for olive oil producers. However, much is likely to depend on how the market evolves over the coming years.
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The virgin olive oil segment is expected to perform well in terms of sales due to its growing popularity among consumers as a result of increased awareness about its health benefits. Virgin oil contains omega-3 and oleic acid, which help to prevent lifestyle-related disorders such as obesity and cardiovascular disease. Emerging processing techniques and technological advancements that allow manufacturers to efficiently process virgin oils with the highest nutrient content drive market growth even further.
Due to its increasing use in pharmaceuticals, dietary supplements, and cosmetics, the pure/refined olive oil segment is expected to grow significantly. The growing demand for nutrient-rich animal feed has significantly increased the demand for olive fruit oil in the production of high-value animal feed.
Colavita: Colavita is a United States-based company that imports and distributes olive oil from Italy. The company was founded in 1979 and has since become a leading producer of olive oil in the United States. Colavita produces not just blended olive oils, but also other oil products such as balsamic vinegar.
Pompeian: Pompeian is one of the significant producers of olive oil in the United States. The company was founded in 1906.
California Olive Ranch: California Olive Ranch is a leading producer of extra-virgin olive oil in the United States. The company was founded in 1998 and is known for its commitment to quality and sustainability. California Olive Ranch produces a range of high-quality extra-virgin olive oils, as well as other oil products such as avocado oil.
Olitalia: Olitalia is an Italian company that produces and exports premium-quality olive oils. The company was founded in 1950 and has since become a leading producer of olive oil in Italy. Olitalia produces a range of high-quality extra-virgin and blended olive oils, as well as other oil products such as truffle oil.
Gaea: Gaea is a Greek company that produces and exports premium quality olive oils. The company was founded in 1994 and is known for its commitment to traditional production methods. Gaea produces blended olive oils, as well as other oil products such as sesame oil.
The market is valued at US$ 13.7 billion in 2023.
The market’s CAGR from 2023 to 2033 will be 2.9%.
Colavita, Pompeian, and California Olive Ranch are key market players.
Increasing health consciousness among consumers to boost the market prospects.
Virgin segment is likely to remain preferred through 2033.
1. Executive Summary | Olive Oil Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Litre) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Litre) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Litre) Analysis By Product, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Litre) Analysis and Forecast By Product, 2023 to 2033
5.3.1. Refined
5.3.2. Extra Virgin
5.3.3. Virgin
5.3.4. Olive Pomace Oil
5.4. Y-o-Y Growth Trend Analysis By Product, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Litre) Analysis By End Use, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Litre) Analysis and Forecast By End Use, 2023 to 2033
6.3.1. Household/Retail
6.3.2. Foodservice/HoReCa
6.3.3. Food Manufacturing
6.3.4. Others
6.4. Y-o-Y Growth Trend Analysis By End Use, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By End Use, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (Litre) Analysis By Distribution Channel, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) & Volume (Litre) Analysis and Forecast By Distribution Channel, 2023 to 2033
7.3.1. Hypermarkets/Supermarkets
7.3.2. Convenience Stores
7.3.3. Specialty Stores
7.3.4. Online Retailing
7.4. Y-o-Y Growth Trend Analysis By Distribution Channel, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Distribution Channel, 2023 to 2033
8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) & Volume (Litre) Analysis By Region, 2018 to 2022
8.3. Current Market Size Value (US$ Million) & Volume (Litre) Analysis and Forecast By Region, 2023 to 2033
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. MEA
8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. USA
9.2.1.2. Canada
9.2.2. By Product
9.2.3. By End Use
9.2.4. By Distribution Channel
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Product
9.3.3. By End Use
9.3.4. By Distribution Channel
9.4. Key Takeaways
10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Brazil
10.2.1.2. Mexico
10.2.1.3. Rest of Latin America
10.2.2. By Product
10.2.3. By End Use
10.2.4. By Distribution Channel
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Product
10.3.3. By End Use
10.3.4. By Distribution Channel
10.4. Key Takeaways
11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. United Kingdom
11.2.1.3. France
11.2.1.4. Spain
11.2.1.5. Italy
11.2.1.6. Rest of Europe
11.2.2. By Product
11.2.3. By End Use
11.2.4. By Distribution Channel
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Product
11.3.3. By End Use
11.3.4. By Distribution Channel
11.4. Key Takeaways
12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. China
12.2.1.2. Japan
12.2.1.3. South Korea
12.2.1.4. Singapore
12.2.1.5. Thailand
12.2.1.6. Indonesia
12.2.1.7. Australia
12.2.1.8. New Zealand
12.2.1.9. Rest of Asia Pacific
12.2.2. By Product
12.2.3. By End Use
12.2.4. By Distribution Channel
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Product
12.3.3. By End Use
12.3.4. By Distribution Channel
12.4. Key Takeaways
13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. GCC Countries
13.2.1.2. South Africa
13.2.1.3. Israel
13.2.1.4. Rest of MEA
13.2.2. By Product
13.2.3. By End Use
13.2.4. By Distribution Channel
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Product
13.3.3. By End Use
13.3.4. By Distribution Channel
13.4. Key Takeaways
14. Key Countries Market Analysis
14.1. USA
14.1.1. Pricing Analysis
14.1.2. Market Share Analysis, 2022
14.1.2.1. By Product
14.1.2.2. By End Use
14.1.2.3. By Distribution Channel
14.2. Canada
14.2.1. Pricing Analysis
14.2.2. Market Share Analysis, 2022
14.2.2.1. By Product
14.2.2.2. By End Use
14.2.2.3. By Distribution Channel
14.3. Brazil
14.3.1. Pricing Analysis
14.3.2. Market Share Analysis, 2022
14.3.2.1. By Product
14.3.2.2. By End Use
14.3.2.3. By Distribution Channel
14.4. Mexico
14.4.1. Pricing Analysis
14.4.2. Market Share Analysis, 2022
14.4.2.1. By Product
14.4.2.2. By End Use
14.4.2.3. By Distribution Channel
14.5. Germany
14.5.1. Pricing Analysis
14.5.2. Market Share Analysis, 2022
14.5.2.1. By Product
14.5.2.2. By End Use
14.5.2.3. By Distribution Channel
14.6. United Kingdom
14.6.1. Pricing Analysis
14.6.2. Market Share Analysis, 2022
14.6.2.1. By Product
14.6.2.2. By End Use
14.6.2.3. By Distribution Channel
14.7. France
14.7.1. Pricing Analysis
14.7.2. Market Share Analysis, 2022
14.7.2.1. By Product
14.7.2.2. By End Use
14.7.2.3. By Distribution Channel
14.8. Spain
14.8.1. Pricing Analysis
14.8.2. Market Share Analysis, 2022
14.8.2.1. By Product
14.8.2.2. By End Use
14.8.2.3. By Distribution Channel
14.9. Italy
14.9.1. Pricing Analysis
14.9.2. Market Share Analysis, 2022
14.9.2.1. By Product
14.9.2.2. By End Use
14.9.2.3. By Distribution Channel
14.10. China
14.10.1. Pricing Analysis
14.10.2. Market Share Analysis, 2022
14.10.2.1. By Product
14.10.2.2. By End Use
14.10.2.3. By Distribution Channel
14.11. Japan
14.11.1. Pricing Analysis
14.11.2. Market Share Analysis, 2022
14.11.2.1. By Product
14.11.2.2. By End Use
14.11.2.3. By Distribution Channel
14.12. South Korea
14.12.1. Pricing Analysis
14.12.2. Market Share Analysis, 2022
14.12.2.1. By Product
14.12.2.2. By End Use
14.12.2.3. By Distribution Channel
14.13. Singapore
14.13.1. Pricing Analysis
14.13.2. Market Share Analysis, 2022
14.13.2.1. By Product
14.13.2.2. By End Use
14.13.2.3. By Distribution Channel
14.14. Thailand
14.14.1. Pricing Analysis
14.14.2. Market Share Analysis, 2022
14.14.2.1. By Product
14.14.2.2. By End Use
14.14.2.3. By Distribution Channel
14.15. Indonesia
14.15.1. Pricing Analysis
14.15.2. Market Share Analysis, 2022
14.15.2.1. By Product
14.15.2.2. By End Use
14.15.2.3. By Distribution Channel
14.16. Australia
14.16.1. Pricing Analysis
14.16.2. Market Share Analysis, 2022
14.16.2.1. By Product
14.16.2.2. By End Use
14.16.2.3. By Distribution Channel
14.17. New Zealand
14.17.1. Pricing Analysis
14.17.2. Market Share Analysis, 2022
14.17.2.1. By Product
14.17.2.2. By End Use
14.17.2.3. By Distribution Channel
14.18. GCC Countries
14.18.1. Pricing Analysis
14.18.2. Market Share Analysis, 2022
14.18.2.1. By Product
14.18.2.2. By End Use
14.18.2.3. By Distribution Channel
14.19. South Africa
14.19.1. Pricing Analysis
14.19.2. Market Share Analysis, 2022
14.19.2.1. By Product
14.19.2.2. By End Use
14.19.2.3. By Distribution Channel
14.20. Israel
14.20.1. Pricing Analysis
14.20.2. Market Share Analysis, 2022
14.20.2.1. By Product
14.20.2.2. By End Use
14.20.2.3. By Distribution Channel
15. Market Structure Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Market Share Analysis of Top Players
15.3.1. By Regional
15.3.2. By Product
15.3.3. By End Use
15.3.4. By Distribution Channel
16. Competition Analysis
16.1. Competition Deep Dive
16.1.1. The Adani Wilmar Ltd.
16.1.1.1. Overview
16.1.1.2. Product Portfolio
16.1.1.3. Profitability by Market Segments
16.1.1.4. Sales Footprint
16.1.1.5. Strategy Overview
16.1.1.5.1. Marketing Strategy
16.1.1.5.2. Product Strategy
16.1.1.5.3. Channel Strategy
16.1.2. Ruchi Soya Industries Ltd
16.1.2.1. Overview
16.1.2.2. Product Portfolio
16.1.2.3. Profitability by Market Segments
16.1.2.4. Sales Footprint
16.1.2.5. Strategy Overview
16.1.2.5.1. Marketing Strategy
16.1.2.5.2. Product Strategy
16.1.2.5.3. Channel Strategy
16.1.3. Associated British Foods (Ach)
16.1.3.1. Overview
16.1.3.2. Product Portfolio
16.1.3.3. Profitability by Market Segments
16.1.3.4. Sales Footprint
16.1.3.5. Strategy Overview
16.1.3.5.1. Marketing Strategy
16.1.3.5.2. Product Strategy
16.1.3.5.3. Channel Strategy
16.1.4. Del Monte Foods
16.1.4.1. Overview
16.1.4.2. Product Portfolio
16.1.4.3. Profitability by Market Segments
16.1.4.4. Sales Footprint
16.1.4.5. Strategy Overview
16.1.4.5.1. Marketing Strategy
16.1.4.5.2. Product Strategy
16.1.4.5.3. Channel Strategy
16.1.5. Cargill
16.1.5.1. Overview
16.1.5.2. Product Portfolio
16.1.5.3. Profitability by Market Segments
16.1.5.4. Sales Footprint
16.1.5.5. Strategy Overview
16.1.5.5.1. Marketing Strategy
16.1.5.5.2. Product Strategy
16.1.5.5.3. Channel Strategy
16.1.6. Tucan Company
16.1.6.1. Overview
16.1.6.2. Product Portfolio
16.1.6.3. Profitability by Market Segments
16.1.6.4. Sales Footprint
16.1.6.5. Strategy Overview
16.1.6.5.1. Marketing Strategy
16.1.6.5.2. Product Strategy
16.1.6.5.3. Channel Strategy
16.1.7. EU
16.1.7.1. Overview
16.1.7.2. Product Portfolio
16.1.7.3. Profitability by Market Segments
16.1.7.4. Sales Footprint
16.1.7.5. Strategy Overview
16.1.7.5.1. Marketing Strategy
16.1.7.5.2. Product Strategy
16.1.7.5.3. Channel Strategy
16.1.8. Victorian Olive Groves
16.1.8.1. Overview
16.1.8.2. Product Portfolio
16.1.8.3. Profitability by Market Segments
16.1.8.4. Sales Footprint
16.1.8.5. Strategy Overview
16.1.8.5.1. Marketing Strategy
16.1.8.5.2. Product Strategy
16.1.8.5.3. Channel Strategy
16.1.9. Archer Daniels Midland Company
16.1.9.1. Overview
16.1.9.2. Product Portfolio
16.1.9.3. Profitability by Market Segments
16.1.9.4. Sales Footprint
16.1.9.5. Strategy Overview
16.1.9.5.1. Marketing Strategy
16.1.9.5.2. Product Strategy
16.1.9.5.3. Channel Strategy
16.1.10. GRAMPIANS OLIVE
16.1.10.1. Overview
16.1.10.2. Product Portfolio
16.1.10.3. Profitability by Market Segments
16.1.10.4. Sales Footprint
16.1.10.5. Strategy Overview
16.1.10.5.1. Marketing Strategy
16.1.10.5.2. Product Strategy
16.1.10.5.3. Channel Strategy
17. Assumptions & Acronyms Used
18. Research Methodology
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