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The Olive Market size is projected to increase by 911.64 thousand tons at a CAGR of 3.7% between 2022 and 2027. Market growth hinges on several factors, including increased demand from the food industry, supportive governmental and group initiatives promoting olive cultivation, and rising olive oil demand driven by dietary shifts. These factors collectively drive the growth of the olive oil market, highlighting its importance in culinary and dietary landscapes. As demand continues to rise, stakeholders are expected to further invest in olive cultivation and production to meet consumer needs and market demands. This trend underscores the significance of olive oil as a sought-after ingredient and the need for continued support and innovation to sustain market growth and meet evolving consumer preferences.
Growing demand from the food industry is the major factor driving the market growth. The different ripening levels of olives at the time of harvest produce a variety of olives that are available in the market. Olives are frequently used in homes and restaurants to make a wide range of dishes. The rise in the demand for olive oil is a major factor driving the price of olives across the world. The characteristics and advantages that different types of olive oil offer are driving the growth of the market. Based on the extraction process, variety, quality, level of acidity, and sensory qualities, various types of olive oil are offered. The most common types of olive oil used for commercial purposes are virgin olive oil, extra virgin olive oil, pure olive oil, and lampante olive oil. Such factors are expected to drive the growth of the market during the forecast period.
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This market report extensively covers market segmentation by Application (food and beverage and others), Distribution Channel (offline and online), and Geography (Europe, Middle East and Africa, North America, South America, and APAC).
The market share growth by the food and beverage segment will be significant during the forecast period. The growing demand for olive oils from consumers in the food and beverage industry has kept production rising over the past few years. Rising health consciousness brought on by increased pollution and the pandemic's negative effects will continue to fuel consumer demand for the industry's goods, keeping sales up. As a result, as more operators become certified by the US Department of Agriculture, they will have a competitive advantage.
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The food and beverage segment was valued at 3,436.38 thousand tons in 2017. Growing demand for olive oil from consumers in the food and beverage industry has increased production in recent years. Increased health awareness due to increased pollution and the negative effects of the pandemic will continue to increase consumer demand for the industry's products and increase sales. As a result, as more operators become USDA certified, they will have a competitive advantage. Due to the aforementioned factors, the adoption of olive oil in the food and beverage sector will fuel the growth of the food and beverage segment in the market during the forecast period.
Olive oil is made available to the general public through various channels including supermarkets, modern trade, specialty shops, and quick-service restaurants. As of 2022, the offline market segment holds a disproportionately large share of the market. In urban areas, the middle class tends to be the primary consumer of olive oil. The market is highly fragmented, resulting in many local companies selling olives that are considered to be of high quality by local consumers. Additionally, this is widely available through offline channels, which contributes to its consumption by certain demographics. Therefore, the presence of olives in supermarkets and other offline stores is expected to fuel the growth of the market during the forecast period.
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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.
Changes in climatic and economic conditions in major olive-producing countries, combined with consumer price sensitivity, have a significant impact on the demand for olives as a commodity. To stabilize production levels during challenging times, respective governments and associations have introduced support policies and programs, such as timely tax rebates and subsidies for olive growers. The European Union has also allocated funds for the sustainable cultivation of agricultural products, including olives, as a major step toward a common agriculture policy. These factors are expected to contribute to the growth of the market during the forecast period.
The market is influenced by factors such as harvested area and yield, impacting the availability of products like fresh and chilled olives, frozen, freeze-dried, cooked, and canned varieties. The olive tree (Olea Europaea) is primarily cultivated in the Mediterranean basin. Rich in potassium, iron, calcium, and other nutrients, olives are associated with health benefits, potentially reducing the risk of cardiovascular diseases, colon cancer, skin cancer, and supporting fertility. They also help manage anemia, blood pressure, and provide vitamin E and manganese. Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.
Expansion of olive production out of Mediterranean nations is the major trend in the market growth. The production of olives has historically been concentrated and dominated by Mediterranean nations. Over the past two decades, the production base has expanded to include nations that were net importers in the past, including the USA, Australia, Chile, and most recently, China and India. Even though less than 2% of the world's olive oil is produced in these nations, their presence has a positive impact on the market on a global scale as the new entrants attempt to replace imports with homegrown goods and increase their export market share. This trend is expected to drive the growth of the market during the forecast period.
Lack of awareness among farmers is a major factor hindering the market growth. The fragmentation of the olive production base, insufficient farmer knowledge of market trends and demand characteristics, improper packaging, an unidentified geographic indication of Irbid olives, poor marketing performance, a lack of effective branding, as well as a lack of coordination between farmers and mills that are frequently resulting in quality degradation, are the main internal challenges. The main external challenges are the competition in export markets, the lack of trust in domestic consumer product quality, and the changing climate that has been causing unpredictable rainfall in recent years. Such factors may hamper the growth of the market during the forecast period.
The market research 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
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 market 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.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "Thousand tons" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments
The market offers a variety of products ranging from freeze-dried and pickled olives to olive oil with diverse health benefits. Olives are rich in phosphorus, copper, and sodium, supporting the immune system and aiding in breast cancer prevention. They are integral to the Mediterranean diet, known for its cardiovascular benefits and as a remedy for obesity. The market caters to various sectors including households, the food service industry, and hypermarkets/supermarkets. With online stores offering convenience, the demand for green and black olives, along with olive oil variants like refined/pure and pomace oil, continues to rise.
Furthermore, the market offers a range of products, including table olives in various forms such as green, black, pickled, dried, frozen, and canned. Freeze-dried and pickled olives are also popular choices. Olives are a key ingredient in many dishes and are known for their health benefits, particularly for the reproductive system and cardiovascular conditions due to their content of omega-3 fatty acids and MUFAs. The market is influenced by factors such as climatic changes and seasonal cultivation, while products like Olea europaea fruit oil, refined/pure olive oil, and lampante oil cater to various consumer needs. The market serves diverse channels, including convenience stores, offering convenience and variety to consumers. The market offers a variety of products including Freeze dried, pickles, Green olive, black olive, raw, dried, frozen, and canned olive. These olives are rich in Omega 3 fatty acid, making them a popular choice for consumers seeking omega-3 enriched products. They are conveniently available in convenience stores for easy access.
Market Scope |
|
Report Coverage |
Details |
Page number |
143 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Decelerate at a CAGR of 3.7% |
Market growth 2023-2027 |
911.64 thousand t |
Market structure |
USD Fragmented |
YoY growth 2022-2023(%) |
3.9 |
Regional analysis |
Europe, Middle East and Africa, North America, South America, and APAC |
Performing market contribution |
Europe at 44% |
Key countries |
US, Turkey, Spain, Italy, and Greece |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
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, and Texas Hill Country Olive Co. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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