NEW RELEASE |Olive Oil Market Emerging Economies Expected to Influence Growth Until 2027

Olive oil is offered as extra virgin olive oil, virgin olive oil, and lampante olive oil according to the method of production and composition of fatty acids in the oil. For instance, virgin olive oil is the oil derived from the fruit of olive tree (Olea europaea L.) by mechanical extraction method such as by washing, decantation, centrifugation, and filtration.

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Increasing awareness regarding health benefits offered by olive oil is expected to drive the market growth over the forecast period. Olive oil contains monounsaturated fatty acids, which are considered as healthy fats. Monounsaturated fatty acids reduce bad cholesterol that is low-density polysaccharides (LDL) and triglycerides. Therefore, olive oil is considered as an effective solution for patients of coronary heart disease.

Furthermore, Europe held significant market share in the global olive oil market in 2018 and is expected to maintain its dominance over the forecast period. This is attributed to increasing consumption of olive oil in the region in end-use industries. According to data released by Food and Agriculture Organization of the United Nations in January 2019, Europe accounted for largest market share in global virgin olive oil production accounting for 74.3% during 2004 to 2014. As per the same source, Spain ranked first in the list of top 5 global virgin olive oil producers during 2004 to 2014.

For instance, according to Olive Oil Import Data for (FY 2017-18) published by Indian Olive Association in 2018, import of total olive oil was pegged at 11,254.44 MT in FY 2015-2016 (Apr-Mar), which increased to 12,812.55 in FY 2016-2017 (Apr-Mar). As per the same source, import of virgin olive oil was pegged at 1,623.05 MT in FY 2015-2016 (Apr-Mar), which increased to 1,809.66 in FY 2016-2017 (Apr-Mar).

Furthermore, lesser side effects of natural products compared to chemical counterparts has increased demand for beauty products formulated with botanical extracts. This in turn is expected to boost use of olive oil in personal care products. Personal care products blended with olive oil extracts offer various skin benefits such as it is considered to be emollient and offers soothing effect. Moreover, presence of antioxidants in olive oil is considered to slow down aging of skin.

Major players operating in the global olive oil market include Cargill, Inc., SOVENA, DEOLEO, COLAVITAS.p.a., Olivezia, Stone Axe Estate, PORTTABLE Produtos Alimentares, Lda., Castellodi Albola, Planeta, Empresa Esporão S.A., and Domaine De Marquiliani (Kermit Lynch Wine Merchant).

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This release was published on openPR.