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Olive Oil Market in India Expected to Reach $127.5 Million by 2025: Major Growth Drivers and trends

01-14-2019 06:27 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Allied Market Research

Olive Oil Market in India Expected to Reach $127.5 Million

Rising consumer awareness about the benefits of olive oil is driving the India olive oil market. Olive oil is rich in healthy monounsaturated fat such as oleic acid, it contains large amounts of antioxidants and has strong anti-inflammatory properties. Olive oil helps in preventing several diseases such as cancer, type 2 diabetes, strokes, and other heart diseases. Apart from this, olive oil is enriched with anti-aging antioxidants and hydrating squalene, making it superb for hair, skin, and nails. Thus, olive oil is majorly used in skincare and personal care products.

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The olive oil market in India was worth $ 58.6 million in 2017 and is estimated to be growing at a CAGR of 9.9%, to reach $127.5 million by 2025. Olive oil is a liquid fat that is obtained from olives, a crop typically grown in the Mediterranean Basin. The oil is prepared by pressing whole olives. There are various types of olives such as Picholine, Kalamata, Agrinion olives, Cerignola, and many others, each type is for a particular texture, flavor, or shelf life, which can be used for various applications. By type, the India olive oil market is classified into virgin olive oil, refined olive oil, and pomace olive oil.

In 2017, virgin olive oil segment has occupied 15.1% share of the India olive oil market due to its improved nutritional content. Furthermore, the growing acceptance of olive oil in culinary uses is likely to increase its market demand for food and beverage applications.

The factors that drive the India olive oil market include a rise in demand for olive oil continuously from end-user industries, growth in awareness about the various health benefits offered by the oil, increase in usage in the manufacturing of products in the beauty care and cosmetics industry, beverages industry, and pharmaceutical industry among others. Changing lifestyle is also anticipated to drive the India olive oil market growth.

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However, higher prices of olive oils and poor domestic production restrict the growth of the olive oil market in India. Nevertheless, government is taking initiative to promote efficient farming techniques developed by the market players, which are effectively increasing the production of olives. These initiatives are estimated to provide impetus to the India olive oil market growth during the forecast period.

In 2017, the personal care segment was the highest contributor to the India olive oil market due to growing awareness about the various health benefits offered by the oil and increasing usage in the manufacturing of products in the beauty care and cosmetics industry.

Improved purchasing power and rising aspiration among the lower- and middle-class society in the nation and industry players coming out with products and pricing to suit consumes across different levels of purchasing power drive the growth of the olive oil for personal care. According to The Associated Chambers of Commerce and Industry of India (ASSOCHAM), the market size of India's beauty, cosmetic, and grooming product was $6.5 billion in 2016 and is expected to reach $20 billion by 2025. This rise in consumption of cosmetic and beauty products is expected to provide lucrative opportunities for the growth of the India market in the future.

The leading players in the olive oil market have focused on product launch, partnership, and business expansion as their key strategies to gain a significant share in the market. The key players profiled in the report include Colavita S.p.A, FieldFresh Foods Pvt Ltd., Deoleo, S.A., Modi Naturals Limited, Cargill Inc., R R Oomerbhoy Pvt Ltd., Ybarra, Rafael Salgado, Borges International Group, S.L., and Hashmitha Enterprise.

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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. 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.

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