Global Olive Oil Market Report to 2028: Featuring Cargill, Modi Naturals, Ingredient and Bunge Among Others - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Olive Oil Market, Size, Global Forecast 2023-2028, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Olive Oil Market will reach US$ 17.93 Billion by 2028, at a CAGR of 6.48% from 2022 to 2028.

Companies Mentioned

• Cargill Inc.
• Modi Naturals
• Ingredient
• Bunge Limited
• Conagra Brands
• Semapa

Olive Oil is a leading crop worldwide; on an average, millions of Tons are produced yearly. It is the natural Oil extracted from olives, the fruit of the olive tree, and made by grinding and removing the Oil by mechanical or chemical means.

Moreover, rising awareness among consumers regarding health benefits and massive demand for olive Oil in different industries like food & beverages, personal care products, and the pharmaceutical industry has significantly driven the market. However, High costs and climate and economic problems create the biggest challenges for the olive oil market's growth.

Olive oil consumption has changed significantly in the EU 27

By Consumption, the Olive oil industry has been classified into eleven parts EU-27, Turkey, Morocco, Tunisia, Syrian Arab Republic, Algeria, Argentina, Lebanon, Jordan, Chile, and Others. EU-27 captured the largest market share due to increasing per capita income; useful in skin care products, helps reduce the risk of heart disease and cancer like breast and colorectal cancer, and mainly drives the market.

In the EU, Italy and Spain are the largest consumers of olive oil, with annual consumptions of around 500,000 tons each. At the same time, Greece has the most extensive EU most significant pitta consumption, with about 14/per person per year.

Furthermore, Olive oil consumption is also growing in the Asia-Pacific region. However, Japan, Korea, and China are still the top destination countries with more consumption rate in 2022. According to this research report, Worldwide Olive Oil Market was US$ 12.30 Billion in 2022.

Based on Production, the Olive Oil market globally was segmented into eleven such EU-27, Turkey, Morocco, Tunisia, Syrian Arab Republic, Algeria, Argentina, Lebanon, Jordan, Chile, and Others. In the Production list of the top 10 largest olive oil countries in the world, four are European, with Spain, Greece, and Italy sitting at the top.

The cultivation of olive trees mainly drives the growth and demand of high-quality oil farmers' awareness and socio-economic culture. According to the Food Information and Control Agency, Spain produced 1.3 million Tunes of olive Oil in 2021, accounting for 42% of global olive oil production. All of them are countries belonging to the Mediterranean basin. Therefore, the Production of these countries accounts for about 80% of world production.

United States is the Largest Olive Oil Importer

By Import, the Olive Oil industry is divided into eleven types: United States, EU-27, Brazil, Japan, Canada, China, Australia, Turkey, Russian Federation, Saudi Arabia, and Others. Eight markets represent around 81% of the imports of olive and virgin olive oils worldwide, the United States, the European Union, Brazil, Japan, Canada, China, Australia, and Russia.

The United States captured the largest market share due to the rising Consumption of olives oil, less Production, rising urbanization and Globalization, Government favorable regulation in production techniques, and health-conscious consumers driving the growth of the United State Market.

Spain represented the major Exporting Country

By Export, Eu-27 holds the largest market share during the forecast period. The market has been segmented into eleven types such as EU-27, Tunisia, Turkey, Syrian Arab Republic, Morocco, Argentina, Chile, United States, Lebanon, Jordan, and Others.

Spain is the largest olive oil exporter, followed by Greece, Italy, Tunisia, and Portugal in the EU. However, European countries import most of their olive oil from other European countries because the most significant share of intra-European trade consists of bulk olive oil blended by the largest olive oil companies before bottling.

Virgin Olive Oil will continue to grow in the Forecast Period

Based on Type, Worldwide Olive Oil Market is ked-up into Extra Virgin Olive Oil, Virgin Olive Oil, and Others. Virgin Olive Oil will dominate the market share due to increasing demand from health-aware consumers, as it is fruity but has some sensory defects. In addition, its acidity shall not exceed 2%. Furthermore, through advanced technology process methods, producers produce more virgin olive oil in the market. As a result, the largest producers of virgin olive oil are China, U.S., Brazil, Germany, and Mexico.

Key Topics Covered:

1. Introduction

2. Research & Methodology

3. Executive Summary

4. Market Dynamics

4.1 Growth Drivers

4.2 Challenge

5. Global Olive Oil Market

6. Volume Analysis - Global Olive Oil Market

7. Market Share - Global Olive Oil Market

8. Consuming countries- Global Olive Oil Market and Volume

9. Producing Countries - Global Olive Oil Volume

10. Importing countries - Global Olive Oil Volume

11. Exporting countries- Global Olive Oil Volume

12. Type- Global Olive Oil Market

13. Industry- Global Olive Oil Market

14. Key Players Analysis

For more information about this report visit https://www.researchandmarkets.com/r/vivs9a-oil-market?w=4

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900