Olive Oil Market Set for Robust Expansion Driven by Health Awareness, Supply Dynamics, and Premiumization Trends (2025-2032)

Introduction

The global Olive Oil Market is entering a phase of sustained growth as shifting consumer preferences, evolving supply conditions, and increasing awareness of health and wellness continue to reshape the edible oils industry. Valued at USD 11.29 billion in 2024, the olive oil market is projected to expand at a compound annual growth rate (CAGR) of 6.13% from 2025 to 2032, reaching nearly USD 18.17 billion by 2032. Traditionally rooted in Mediterranean diets, olive oil has transitioned from a regional staple to a globally recognized functional food ingredient, driven by its nutritional profile, versatility across applications, and growing acceptance in both developed and emerging economies.

Olive oil is a natural lipid extracted from olives through mechanical pressing and refining processes, available in several grades such as extra-virgin, virgin, refined, and pomace olive oil. It is rich in monounsaturated fatty acids, oleic acid, antioxidants, and phenolic compounds, which are associated with cardiovascular protection, anti-inflammatory benefits, and improved metabolic health. Beyond culinary use, olive oil has gained strong traction in pharmaceuticals, cosmetics, and personal care products due to its moisturizing, antioxidant, and skin-repair properties. Its gluten-free nature and compatibility with clean-label trends further enhance its appeal among health-conscious consumers. Collectively, these factors have positioned olive oil as a premium yet increasingly mainstream edible oil worldwide.

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Current Market Dynamics

Production & Supply
Global olive oil production is highly concentrated, with Europe-particularly Spain, Italy, and Greece-accounting for the majority of output. Climatic conditions, olive harvest cycles, water availability, and agricultural practices play a critical role in determining annual supply levels. In recent years, irregular weather patterns, droughts in Mediterranean regions, and rising input costs have introduced volatility into production volumes. While global output averaged around 2.87 million tonnes during key crop years, fluctuations remain common, directly influencing availability and pricing in international markets. At the same time, technological advancements in cultivation, irrigation, and milling are gradually improving yield efficiency and oil quality.

Price Trends
Olive oil prices are closely linked to harvest outcomes, energy costs, labor availability, and global demand trends. Premium categories such as extra-virgin olive oil command higher prices due to strict quality standards and limited yields. In recent periods, reduced harvests in key producing countries and rising logistics costs have exerted upward pressure on prices. Despite this, consumer willingness to pay for perceived health benefits and authenticity has remained resilient, particularly in developed markets. In emerging economies, price sensitivity continues to favor blended, refined, or pomace olive oils, supporting volume growth across multiple price tiers.

Trade Disruptions
The olive oil market has faced notable trade and supply chain disruptions in recent years, including those triggered by the COVID-19 pandemic. Temporary shutdowns, port congestion, and reduced foodservice demand affected both exports and imports, leading to inventory imbalances and revenue declines for producers and distributors. Although international trade has largely recovered, geopolitical tensions, regulatory changes, and sustainability compliance requirements continue to shape cross-border flows. Diversification of sourcing regions and expansion of e-commerce channels are increasingly used as mitigation strategies by market participants.

Market Segmentation

The global olive oil market is segmented by type, source, application, and distribution channel, reflecting its diverse end-use landscape.

By type, the market includes extra-virgin olive oil, virgin olive oil, pomace olive oil, and others. Virgin olive oil holds a significant share due to its balance of quality and affordability, while extra-virgin olive oil continues to gain traction among premium and health-focused consumers. Pomace olive oil, although more processed, remains popular in price-sensitive markets because of its wider availability and lower cost.

By source, olive oil is categorized into organic and conventional. Organic olive oil is witnessing faster growth as consumers increasingly prioritize natural, chemical-free, and sustainably produced food products.

By application, the market spans food and beverage, pharmaceuticals, and cosmetics. The food and beverage segment dominates overall demand, supported by rising usage in home cooking, salad dressings, bakery products, and ready-to-eat foods. Pharmaceutical and cosmetic applications are expanding steadily, leveraging olive oil's antioxidant and emollient properties.

By distribution channel, olive oil is sold through supermarkets and hypermarkets, convenience stores, online channels, and others. Online retail is emerging as a high-growth channel, particularly in urban areas and developing regions, offering wider product variety and direct-to-consumer access.

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Regional Spotlights

Europe remains the largest regional market, accounting for approximately 39% of global revenue in 2024. The region benefits from strong domestic consumption, deep-rooted culinary traditions, and dominant production capacity. Southern European countries continue to lead exports, while demand in non-producing nations such as Germany and the UK is rising steadily.

Asia Pacific is expected to register the fastest growth rate during the forecast period, driven by increasing disposable incomes, urbanization, and growing awareness of healthy dietary fats. Countries such as China, India, Japan, and Australia are witnessing rising adoption of olive oil in household cooking and foodservice sectors.

North America represents a mature yet expanding market, supported by strong health awareness, premium food consumption trends, and widespread availability across retail formats. Latin America and the Middle East & Africa are also emerging as important growth regions due to dietary diversification and increasing imports.

Key Players

1.DEOLEO
2.SOVENA
3.BORGES INTERNATIONAL GROUP
4.Minerva
5.Gallo
6.Vendors covered
7.Vendor classification
8.Market positioning of vendors
9.AVRIL
10.Bright Food
11.Almazaras de la Subbetica SL
12.Salov SpA
13.Avenida Rafael Ybarra
14.Cargill
15.Rafael Salgado
16.World Excellent Productions S.A.
17.POMPEIAN.
18.MONINI
19.Antonio Celentano Extra Virgin Olive Oil
20.Colavita.

Conclusion

The global olive oil market is poised for steady and resilient growth through 2032, underpinned by rising health consciousness, expanding applications, and evolving consumer preferences toward natural and functional foods. While challenges related to production variability, pricing volatility, and trade disruptions persist, ongoing innovation, digital distribution, and diversification into emerging markets are expected to unlock new opportunities. As olive oil continues to transition from a niche premium product to a widely adopted dietary staple, the market is set to play an increasingly important role in the global edible oils landscape, offering long-term value to producers, investors, and consumers alike.

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