Olive Market Analysis Europe, Middle East and Africa, North America, South America, APAC - US, Turkey, Spain, Italy, Greece - Size and Forecast 2023-2027

Olive Market Size 2023-2027

The olive market size is forecast to increase by 911.64 th t at a CAGR of 3.7% between 2022 and 2027.

• The market is experiencing significant growth, driven primarily by increasing demand from the food industry, particularly in the European and North American markets. This trend is further fueled by the expansion of olive production beyond traditional Mediterranean nations, such as Spain, Italy, and Greece, into countries like Chile, Argentina, and South Africa. However, one challenge that hinders market growth is the lack of awareness among farmers in non-traditional olive-growing regions, leading to inconsistent production quality and yield. Companies seeking to capitalize on this market opportunity should focus on educating farmers about best practices and investing in research and development to improve production efficiency and product quality.
• Additionally, collaborating with local governments and organizations to provide incentives and support for olive farming in non-traditional regions could help increase supply and meet the growing demand. Overall, the market presents a promising landscape for businesses looking to expand their footprint and meet the growing demand for olive products.

What will be the Size of the Olive Market during the forecast period?

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• The market continues to experience robust growth, fueled by increasing consumer demand for healthy oil choices. Olives are renowned for their rich nutritional profile, offering monounsaturated fats, omega-6 fatty acids, and various health benefits. These healthy fats contribute to heart health, weight management, and improved skin and hair. Extra virgin olive oil, in particular, is celebrated for its versatility, with applications ranging from salad dressings and hair growth to cooking and skin care. Its distinctive taste and versatility have positioned it as a preferred choice among consumers seeking healthier alternatives to other oils.
• The market's expansion is further driven by the oil's status as a key ingredient in the Mediterranean diet, which is gaining popularity worldwide for its numerous health benefits. The market's sizeable growth is expected to continue, driven by increasing consumer awareness and the ongoing trend towards healthier lifestyle choices.

How is this Olive Industry segmented?

The olive industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD th t" for the period 2023-2027, as well as historical data from 2017-2021 for the following segments.

• Application
  • Food and beverage
  • Others
• Distribution Channel
  • Offline
  • Online
• Geography
  • Europe
    • Greece
    • Italy
    • Spain
  • Middle East and Africa
    • Turkey
  • North America
    • US
  • South America
  • APAC

By Application Insights

The food and beverage segment is estimated to witness significant growth during the forecast period.

The market has experienced significant growth in recent years due to the increasing consumer preference for olive oils in the food and beverage industry. This trend is driven by the health-promoting properties of olive oils, which contain monounsaturated fats, vitamin E, and antioxidant polyphenols. Olive oils also offer anti-inflammatory properties, making them beneficial for heart health and the prevention of cardiovascular diseases. With a grassy, natural flavor profile, olive oils are versatile in culinary applications, from salad dressings and gourmet experiences to healthier cooking options. The market caters to various consumer preferences, including extra virgin, vegetable oils, personal care products, and olive extracts.

The Mediterranean diet, which emphasizes the consumption of olive oil, has gained popularity for its health benefits, including the promotion of a healthy lifestyle and the prevention of lifestyle-related health conditions. The market also includes a range of olive cultivars, pressing methods, and bottling processes, ensuring a diverse product portfolio and high antioxidant levels. Sustainable farming practices and the use of organic olives further enhance the market's appeal. The market is expected to continue growing due to its health benefits and consumer demand for natural, flavorful ingredients.

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The Food and beverage segment was valued at USD 3436.38 th t in 2017 and showed a gradual increase during the forecast period.

Regional Analysis

Europe is estimated to contribute 44% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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Olives are a valuable commodity in the global market, with a rich flavor profile that ranges from grassy notes to natural, fruity tastes. Olive oils, a primary product derived from olives, are renowned for their health benefits, including high levels of vitamin E, omega-3 fatty acids, and antioxidants. These health-promoting properties make olive oils a preferred choice for consumers following the Mediterranean diet, which is known to reduce the risk of cardiovascular diseases and lifestyle-related health conditions. The cultivation of olives is a sustainable farming practice, with tree pruning, irrigation systems, and olive extracts contributing to the overall health of the olive tree.

The pressing methods, such as cold-pressed and extra virgin, influence the oil's antioxidant levels and flavor profiles. Olives are used in various applications, including table olives, olive paste, tapenade spreads, salad dressings, and personal care products. The versatility of olives extends to hospitality businesses and gourmet experiences. Governments and associations have implemented policies to support olive growers, such as tax rebates and subsidies, to maintain production levels during challenging economic and climatic conditions. The European Union has allocated funds for the sustainable cultivation of agricultural products, including olives, as part of a common agriculture policy. Consumers' increasing health awareness and preference for heart-healthy cooking options further drive the demand for olives and olive products.

Market Dynamics

Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in the adoption of Olive Industry?

• Growing demand from food industry is the key driver of the market. 
• • Olives come in various ripening levels at harvest, resulting in a diverse range of olives in the market. These olives are essential in both homes and restaurants for creating numerous dishes. The escalating demand for olive oil significantly influences the price of olives globally. The unique characteristics and benefits of different types of olive oil fuel the expansion of the global olive oil market. Based on extraction process, variety, quality, acidity level, and sensory qualities, several types of olive oil are provided.
  • The most widely used olive oils for commercial purposes include virgin olive oil, extra virgin olive oil, pure olive oil, and lampante olive oil. The distinct qualities of these olive oils cater to diverse consumer preferences and culinary applications.

What are the market trends shaping the Olive Industry?

• Expansion of olive production out of Mediterranean nations is the upcoming market trend. 
• • The market has witnessed significant expansion over the past two decades, with an increasing number of countries joining the production scene. Traditionally dominated by Mediterranean nations, the industry now includes former importers such as the USA, Australia, Chile, China, and India. Although these countries account for less than 2% of the global olive oil production, their entry into the market positively influences its growth on a global scale.
  • As these new entrants strive to replace imports with locally grown produce and expand their export market share, the market is expected to experience continued growth during the forecast period.

What challenges does the Olive Industry face during its growth?

• Lack of awareness among farmers is a key challenge affecting the industry growth. 
• • The market faces several internal and external challenges that may hinder its growth during the forecast period. Internal issues include the fragmented production base, insufficient farmer knowledge of market trends, improper packaging, unidentified geographic indication for Irbid olives, poor marketing performance, and a lack of effective branding. Furthermore, the lack of coordination between farmers and mills often results in quality degradation. Externally, competition in export markets, a lack of trust in domestic consumer product quality, and unpredictable climate conditions are significant hurdles.
  • These factors may negatively impact The market's growth. As a professional assistant, it is essential to acknowledge these challenges and encourage stakeholders to address them to ensure market sustainability and success.

Exclusive Customer Landscape

The olive market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the olive market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, olive market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

2Brothers Company - The company provides a selection of premium olives, including sliced, pitted, and whole ripe black varieties. Our offerings deliver authentic and high-quality flavors, enhancing various dishes and adding depth to culinary creations. By maintaining a focus on originality and search engine optimization, our diverse olive assortment caters to a wide range of consumer preferences and culinary applications.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• 2Brothers Company
• ACEITUNA GREEN SL
• Adamakis Olives
• Apollo Pharmacies Ltd.
• B.R. Cohn
• Cargill Inc.
• Dcoop S. Coop.
• Deoleo SA
• Eugene Brunel
• Filippo Berio USA Ltd.
• FRUYPER SA
• GAIA olives
• Gallo
• Grup Pons
• MINERVA S.A
• OLIVA OLIVA INTERNET SL
• Olive line international SL
• SCAMILLA OLIVES
• Special Food Industry International
• Texas Hill Country Olive Co.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

Olive oil, derived from the fruit of the olive tree, has gained significant attention in the global market due to its unique flavor profile and numerous health-promoting properties. This vegetable oil, renowned for its grassy notes and natural flavors, has become a staple in various industries, including hospitality businesses and personal care. The health benefits associated with olive oil are extensive. It is rich in vitamin E and polyphenols, known for their antioxidant properties. These components contribute to heart health and help prevent cardiovascular diseases. Furthermore, olive oil's anti-inflammatory properties make it an excellent choice for managing lifestyle-related health conditions.

Culinary versatility is another factor contributing to the olive oil market's growth. It is widely used in salad dressings, gourmet experiences, and healthier cooking options. The Mediterranean diet, which emphasizes the consumption of olive oil, has gained popularity worldwide due to its numerous health benefits. The olive oil market comprises various types, including extra virgin, cold-pressed, and olive pomace. Each type undergoes different pressing methods and bottling processes, affecting their flavor profiles and antioxidant levels. For instance, extra virgin olive oil is obtained from the first pressing of olives and has the highest polyphenol content. Olive tree cultivation plays a crucial role in the olive oil market.

Fruit harvesting is typically done by hand, followed by brine curing or pressing to extract the oil. Olive cultivars, such as Arbequina, Picual, and Koroneiki, are grown using sustainable farming practices, including tree pruning and irrigation systems, to optimize olive production. Olive residues, such as olive pits and olive pomace, are also utilized in the production of olive extracts and tapenade spreads, expanding the market's scope. Shelf life and sustainable farming practices are essential considerations for olive oil producers to maintain consumer preference and adhere to market standards. In conclusion, the olive oil market is driven by its unique flavor profile, health benefits, and versatility.

The global market encompasses various types, cultivation practices, and applications, making it a dynamic and growing industry. Consumers' increasing health awareness and preference for natural ingredients further fuel the demand for olive oil.

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What are the Key Data Covered in this Olive Market Research and Growth Report?

• CAGR of the Olive industry during the forecast period
• Detailed information on factors that will drive the growth and forecasting between 2023 and 2027
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across Europe, Middle East and Africa, North America, South America, and APAC
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the olive market growth of industry companies

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