Segment Evaluation and Major Growth Areas in the Olive Oil Market

The olive oil market is poised for significant expansion in the coming years, driven by changing consumer preferences and evolving industry practices. As demand shifts towards healthier and more sustainable products, the olive oil sector is positioned to experience robust growth. Let's explore the market's size, key players, emerging trends, and detailed segment analysis to understand what lies ahead.

Projected Growth and Market Size for Olive Oil by 2030
The olive oil market is forecasted to reach a value of $18.21 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.4%. This growth is fueled by several important factors including a rising demand for organic food items, increased use of olive oil in personal care products, a surge in premium food consumption, a stronger focus on sustainable agriculture, and wider adoption of digital traceability systems. Key trends anticipated to influence the market over the forecast period include increasing preference for extra virgin olive oil, greater interest in organic variants, expansion of premium and artisanal olive oil segments, enhanced emphasis on traceability and origin labeling, as well as broader applications in culinary and cosmetic fields.

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Leading Companies Driving the Olive Oil Market Forward
The olive oil industry features a number of major players, including Deoleo S.A., Borges International Group, Sovena Group, Gallo Worldwide, Salov S.p.A., Colavita S.p.A., Monini S.p.A., Costa d'Oro, Pompeian Inc., Lucini Italia Co., Castillo de Canena, Minerva Olive Oil, Gaea Products S.A., Jaencoop Grupo, Aceites Sandua, Oil Artajo SL, Domenico Manca S.p.A., Bellucci Premium, Grampians Olive Co., Victoria Olive Oil Co., Les huiles d'olive Lahmar, and Tucan Olive Oil Company Ltd.

A notable development occurred in April 2023, when Colavita S.p.A., an Italian olive oil producer, acquired O Olive Oil & Vinegar, a US-based maker of California extra virgin olive oil and handcrafted wine vinegar. Although the financial details were not disclosed, Colavita aims to preserve the unique identity of the O Olive Oil & Vinegar brand while leveraging their combined expertise to elevate its presence on a global scale. The acquisition also marks a return of O Olive Oil & Vinegar to a family-owned business structure after its time as part of a public corporation.

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Key Market Trends Shaping the Future of Olive Oil
Major companies in the olive oil sector are making strategic investments to boost production capacity and meet growing consumer demand. For example, Certified Origins, an Italy-based extra virgin olive oil company, is making a significant move by investing $25 million to establish its first manufacturing plant in the United States. Announced in March 2023, this new facility located at Oakland Industrial Park, 230 Pickett's Line, will handle olive oil blending, bottling, packaging, and distribution. The plant will serve both local and international markets, offering artisan blends and customized packaging solutions. This expansion is expected to create 30 new jobs and highlights the increasing importance of localized production, with Virginia winning over Maryland as the preferred site for this operation.

Detailed Market Segmentation of the Olive Oil Industry
This report segments the olive oil market into several key categories:
1) By Type: Virgin Olive Oil, Refined Olive Oil, Extra Virgin Olive Oil, Olive Pomace Oil
2) By Nature: Conventional, Organic
3) By Distribution Channel: B2B Suppliers, Supermarket or Hypermarket, Grocery Store, Online Retail, Other Distribution Channels
4) By End User: Food Processing, Food Service, Cosmetics and Personal Care, Other End Users

Further subcategories include:
- Virgin Olive Oil: Cold Pressed Virgin Olive Oil, Filtered Virgin Olive Oil, Unfiltered Virgin Olive Oil
- Refined Olive Oil: Light Refined Olive Oil, Refined Olive Oil Blend
- Extra Virgin Olive Oil: Organic Extra Virgin Olive Oil, Flavored Extra Virgin Olive Oil
- Olive Pomace Oil: Refined Olive Pomace Oil, Pomace Oil Blend

This comprehensive segmentation provides insights into the diverse range of olive oil products, their sources, distribution methods, and end applications, highlighting the market's complexity and growth potential.

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This release was published on openPR.