Press release
Global Olive Oil Market: Food and Beverage Industry to Bank on Abundant Health Benefits of Olive Oil
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Primarily used in the preparation of Mediterranean food, olive oil has gained culinary importance across the globe. As olive oil has abundant omega-3 monounsaturated fatty acid and antioxidants, it helps in replacing saturated and trans fats and stimulates health. Cancer, depression, cardiovascular diseases, and osteoporosis can be cured by incorporating olive oil in the daily dietary regime, invariably increasing the demand in various food and beverages. However, the fact that production is limited to the Mediterranean region acts as a major deterrent to market growth. In addition, fluctuating prices, based on the dynamics of supply and demand, are also a challenge.
Olive oil is classified on the basis of type into virgin olive oil, refined olive oil, and extra virgin olive oil. Among these, extra virgin olive oil is mainly contributing to the market growth and is favored over the rest as it possesses less than 1% acidity level and is rich in antioxidants.
Geographically, the global market for olive oil is segmented into North America, Europe, Asia Pacific, and Rest of the World. Presently, Europe is the leading contributor in the overall market in terms of share. Due to extensive production infrastructure, Europe will continue to lead the market during the said period.
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Owing to the growing awareness of the health benefits of olive oil, Asia Pacific is set to register remarkable growth over the forecast period. China, India, and Japan are likely to propel the market for olive oil in the food and beverages sector. Although several developing economies such as Brazil and India have undertaken initiatives to produce olive oil indigenously in order to meet the domestic consumer demands, the success of such initiatives is still limited.
Sovena Group, Colavita, Deoleo, Borges, Salov, Ybarra, and Pompeian are a few of the prominent players operating in the global olive oil market in the food and beverages industry.
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