Olive Oil Market
Olive Oil Market
The market for Olive Oil was estimated at $24.20 billion in 2024; it is anticipated to increase to $38.2 billion by 2030, with projections indicating growth to around $55.9 billion by 2035.
Global Olive Oil Market Outlook
Revenue, 2024 (US$B)
Forecast, 2034 (US$B)
CAGR, 2024 - 2034
Market Key Insights
- The Olive Oil market is projected to grow from $24.2 billion in 2024 to $51.8 billion in 2034. This represents a CAGR of 7.9%, reflecting rising demand across Culinary Utilization, Pharmaceutical Integration and Personal Care.
- The market leaders Deoleo Sovena Group and Grupo Ybarra Alimentacin drive the competitive dynamics of this industry.
- Spain and Italy are the top markets within the Olive Oil market and are expected to observe the growth CAGR of 5.1% to 7.6% between 2024 and 2030.
- Emerging markets including Brazil, India and South Africa are expected to observe highest growth with CAGR ranging between 9.1% to 10.9%.
- The Olive Oil market will experience a $3.6 billion increase in growth through 2030 because of the transition toward organic and Extra Virgin Olive Oil.
- The Olive Oil market is set to add $27.6 billion between 2024 and 2034, with manufacturer targeting Virgin & Pure Type projected to gain a larger market share.
- With Increasing health consciousness, and Growing culinary influence, Olive Oil market to expand 114% between 2024 and 2034.
Opportunities in the Olive Oil
The beauty industry is always changing with the introduction of elements and items to enhance skincare routines and results. Olive oil holds promise in this field because of its inherent ability to moisturize the skin naturally and its antioxidants that support healthy skin functions. Businesses have the opportunity to develop skincare collections featuring olive oil as a key ingredient. Including moisturizers, cleansers and serums. To deliver the advantages of this natural element to consumers.
Growth Opportunities in Europe and North America
Europe Outlook
The European market, spearheaded by Spain, Italy, and Greece, dominates global olive oil production and consumption due to traditional dietary patterns and mature distribution systems. Increased awareness about the health benefits of olive oil has spurred consumption growth. However, intense regional competition and adherence to stringent quality standards are key challenges. Opportunities lie in product innovation and the premium segment.
North America Outlook
The demand for oil in North America is on the rise because people are changing their diets and becoming more aware of the health benefits of olive oil especially in the United States market where there is a growing interest. However sunflower and soybean oil are competing with oil for consumers preferences. The key to success, in this market lies in promoting quality and organic olive oils to attract health conscious customers.
Market Dynamics and Supply Chain
Driver: Increasing Health Consciousness, and Advancements in Cold Press Extraction Techniques
The worldwide popularity of Mediterranean cooking and its prominent use of olive oil has also had also an impact, on the olive oil markets development worldwide as more eateries and home chefs are also using olive oil in various dishes which helps expand the market.
Restraint: High Production Costs
Opportunity: Olive Oil in Health and Wellness
Challenge: Widespread Counterfeit Products
Supply Chain Landscape
Cobram Estate
California Olive Ranch
Deoleo
Sovena Group
Borges International Group
SALOV North America Corp
Whole Foods Market
Kroger
Cobram Estate
California Olive Ranch
Deoleo
Sovena Group
Borges International Group
SALOV North America Corp
Whole Foods Market
Kroger
Applications of Olive Oil in Culinary Utilization, Pharmaceutical Integration & Personal Care
In kitchens across various cuisines globally olive oil shines as a key ingredient that adds flavor to salads and enriches the aroma of cooked dishes. Its versatility adds to the varied flavors found in different culinary traditions thanks to its heart friendly monounsaturated fats that help lower cholesterol levels. Known brands such as Pompeian and Bertolli are respected for their top notch product offerings, on a global scale.
The beauty industry has widely adopted olive oil for its nourishing qualities in skincare and haircare products due to its abundant antioxidants and hydrating effects on the skin and hair texture improvement benefits as well as anti aging properties that appeal to health conscious consumers searching for quality products showcased by popular brands, like Dove and Garnier who have effectively integrated it into their product offerings.
The remarkable health advantages of olive oil have led to its incorporation into the sector where it plays a crucial role, in manufacturing specific dietary supplements and drugs aimed at addressing heart and cholesterol concerns.
Recent Developments
Deolei. The player in the olive oil industry globally. introduced a new of olive oil with high polyphenol content to meet the needs of health conscious consumers, on the rise.
Bertolli introduced a tracing system that lets customers follow the path of their olive oil from the grove to the store shelves. This shows their dedication to ensuring authenticity and quality, in their products.
There was a merger between two well known Italian premium olive oil companies. Monini and Frantoio Franci. This merger led to an expansion in their range of products and a stronger presence, in the market.