Olive Oil Market to Reach $30,196.4 million, Globally, by 2032 at 5.2% CAGR: Allied Market Research

News provided by

Mar 12, 2024, 06:27 ET

The surge in the Mediterranean diet trend boosts the demand for olive oil. This renowned dietary pattern, inspired by the traditional eating habits of Mediterranean countries, places a strong emphasis on the consumption of olive oil as a primary source of dietary fat

PORTLAND, Ore., March 12, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Olive Oil Market by Type (Refined, Virgin, Extra Virgin, and Others), Application (Food and Beverage, Personal Care and Cosmetics, Pharmaceuticals, and Others), and Distribution Channel (Hypermarkets/Supermarkets, Departmental Stores, Online Retail Stores, and Medical Stores): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global olive oil market was valued at $18,552.6 million in 2022, and is projected to reach $30,196.4 million by 2032, registering a CAGR of 5.2% from 2023 to 2032.

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/1993

Prime determinants of growth

The olive oil market has experienced significant growth driven by several prime determinants. The increase in awareness and adoption of healthier lifestyles have led consumers to seek alternatives to traditional cooking oils, with olive oil being recognized for its numerous health benefits. The growing emphasis on heart-healthy fats, antioxidants, and anti-inflammatory properties in diets has fueled the demand for olive oil, as it is rich in monounsaturated fats and other essential nutrients.

Moreover, the expanding culinary landscape and a rising interest in diverse and international cuisines have played a pivotal role in the growth of the olive oil market. As consumers become more adventurous in their food choices, the use of olive oil as a staple in Mediterranean, Middle Eastern, and other global cuisines has surged. Additionally, the popularity of gourmet and specialty cooking, coupled with the influence of celebrity chefs, has elevated olive oil to a premium ingredient, further driving its market growth.

Report coverage & details:
Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2023	$18,552.6 million
Market Size in 2032	$30,196.4 million
CAGR	5.2 %
No. of Pages in Report	444
Segments Covered	Type, Application, Distribution Channel, and Region
Drivers	Increasing Adoption of Mediterranean Diet
Drivers	Global Culinary Trends
Opportunities	Marketing and Branding Initiatives
Opportunities	Innovation in Packaging
Restraints	Competition from Other Oils
Restraints	Climate Change Impact

The virgin segment to maintain its leadership status throughout the forecast period

Based on type, the virgin segment held the highest market share in 2022, accounting for more than one-third of the global olive oil market revenue, and is estimated to maintain its leadership status throughout the forecast period. However, the others segment is projected to attain the highest CAGR of 6.6% from 2023 to 2032.

The others segment to maintain its leadership status throughout the forecast period

Based on application, the others segment held the highest market share in 2022, accounting for more than one-third of the global olive oil market revenue, and is estimated to maintain its leadership status throughout the forecast period. Additionally, the personal care and cosmetics segment is projected to attain the highest CAGR of 7.1% from 2023 to 2032.

For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/1993 https://www.alliedmarketresearch.com/purchase-enquiry/A47235

The hypermarkets/supermarkets segment to maintain its leadership status throughout the forecast period.

Based on the distribution channel, the hypermarkets/supermarkets segment held the highest market share in 2022, accounting for more than one-third of the global olive oil market revenue, and is estimated to maintain its leadership status throughout the forecast period. Additionally, the online retail stores segment is projected to attain the highest CAGR of 6.7% from 2023 to 2032.

Europe to maintain its dominance by 2032

Based on region, Europe held the highest market share in terms of revenue in 2022, accounting for more than half of the global olive oil market revenue. In addition, the North America region is also expected to witness the fastest CAGR of 8.1% from 2023 to 2032 and is likely to dominate the market during the forecast period.

Leading Market Players: -

Deoleo, SOVENA
GRUPPO SALOV
Del Monte Foods Private Limited
California Olive Ranch, Inc.
Borges INTERNATIONAL GROUP
S.L.U.
POMPEIAN
Cargill
Conagra Brands
Modi Naturals Ltd.

Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://bit.ly/3Iwx9iD

The report provides a detailed analysis of these key players in the global olive oil market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Trending Reports in Food and Beverages Industry:

Apple Seed Oil Market: Global Opportunity Analysis and Industry Forecast, 2023-2032

Peanut Oil Market: Global Opportunity Analysis and Industry Forecast, 2023-2032

Extra Virgin Coconut Oil Market: Global Opportunity Analysis and Industry Forecast, 2023-2032

Almond Oil Market: Global Opportunity Analysis and Industry Forecast, 2022-2031

Peppermint Oil Market: Global Opportunity Analysis and Industry Forecast, 2021-2031

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
[email protected]
Web: https://www.alliedmarketresearch.com/reports-store/food-and-beverages
Follow Us on Blog: https://www.dailyreportsworld.com/