Olive Oil Market To Surpass 3,299.9 KT By 2027 |Cargill, Inc., SOVENA, DEOLEO, COLAVITAS.p.a

Olive Oil is derived from olive fruit trees grown in coastal areas of the Mediterranean Basin. It has high smoke point and is an effective treatment for many skin ailments, especially acne. Olive oil is a monosaturated fat that is easily digested by the body, but contains very little saturated fats and calories. This makes it a good dietary fat and is good for heart health. It is typically used for cooking, as an additive to food or as a salad dressing, or in some cases as a treatment for cancer. Its antioxidant properties make it a good dietary fat.

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Competitive Landscape
Major companies contributing to the global olive oil market include PORTTABLE Produtos Alimentares, Olivezia, COLAVITA S.p.a., DEOLEO, Cargill, Inc., Kermit Lynch Wine Merchant, SOVENA, Empresa Esporão S.A., Planeta, Stone Axe Estate, and Castellodi Albola.

Drivers
Growing demand for healthy cooking oil across the food and beverage (F&B) industry and household applications is expected to foster growth of the olive oil market over the forecast period.
Furthermore, rising popularity of Mediterranean cuisines owing to their antioxidant properties is expected to supplement growth of the olive oil market during the forecast period.

Summary of the COVID-19 Aftermath

The inception of the COVID-19 crisis had a ‘bitter-sweet’ impact on the global olive oil market. Olive oil extraction has witnessed a steep downfall since March 2020, but demand has significantly increased as a result of increased health consciousness. The trade weaknesses are visible in the supply chain, rather than the demand, which are projected to be revived as the pandemic’s onslaught fades.

Key Takeaways

• The olive oil market is anticipated to grow at a CAGR of 1 % during the forecast period owing to the increasing demand for healthy foods, increasing product launches, and rising application in the cosmetics and personal care industry. For instance, in January 2021, the American food products supplier, Del Monte, introduced Olive Oil Pet 1L in the Indian market at an affordable price of US$ 3.42.

• In the geographic overview, the European region is well-positioned to reign supreme in the global olive oil market at the helm of rising production of raw olive oil in countries such as Spain, Italy, Greece, and others.

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• In relation to the same, the Asia Pacific region is viewed as a future ace on account of increasing imports, product launches, and rising health awareness.

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