Olive Oil Market
Report ID: SQMIG30I2419
Report ID: SQMIG30I2419
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Report ID:
SQMIG30I2419 |
Region:
Global |
Published Date: January, 2025
Pages:
171
|Tables:
119
|Figures:
74
Olive Oil Market size was valued at USD 16.08 Billion in 2024 and is poised to grow from USD 16.9 Billion in 2025 to USD 25.16 Billion by 2033, growing at a CAGR of 5.1% during the forecast period (2026–2033).
The demand for olive oil has grown significantly in the previous years driven by the emerging trend of incorporating oil rich in nutrients into the diet to prevent some health disorders and rising preference for artisanal and less processed edible oils. With consumers’ willingness to pay a premium for alternatives and the distinct qualities and benefits offered by olive oil, it is not surprising that demand is strong. Several reasons ensure the steady demand for olive oil. One, this product has struck a chord with consumers because of multiple health benefits. It is well known for its high levels of monounsaturated fats and antioxidants and has been associated with reduced cardiovascular disease risk, lower cholesterol levels, and other health benefits. In addition, it provides a good dose of vitamin E and has an outstanding anti-inflammatory feature.
Growing concern about the overall health status coupled with increasing inclination towards healthy oil substitutes generates the demand for the market. Due to the increasing incidence of lifestyle-related disease conditions, consumers have become more inclined around the healthy consumption of vegetable oils in their day-to-day diets. Moreover, the savour factor and versatility of olive oil directs it into a much wider consumer market. It is one of the core ingredients of countless recipes, whether in salad dressings and marinades or for sautéing and baking. Olive oil has excellent taste and smell as it adds refined richness and depth to the flavors of a dish.
Market snapshot - 2026-2033
Global Market Size
USD 15.3 billion
Largest Segment
Virgin Olive Oil
Fastest Growth
Refined Olive Oil
Growth Rate
5.1% CAGR
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Global Olive Oil Market is segmented by Type, Application, Packaging, Distribution Channel and region. Based on Type, the market is segmented into Refined, Virgin, Extra Virgin and Others. Based on Application, the market is segmented into Food & Beverage, Personal Care and Cosmetics, Pharmaceuticals and Others. Based on Packaging, the market is segmented into Bottles, Pouches and Cans. Based on Distribution Channel, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Online and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
The virgin olive oil is dominating the market with the largest olive oil market share. The virgin olive oil is the best quality and most versatile oil among others. Virgin olive oil is the highest grade of olive oil, which means that it has been extracted without the use of chemicals or excessive heat and thus retains its natural flavor, aroma, and nutritional value through mechanical methods. The health benefits and complex flavour of virgin olive oil appeal to consumers looking for premium, healthy options, solidifying its position as the go-to cooking oil when sautéing, drizzling or going into salad dressings. The unique characteristics it possesses, including different flavor profiles provided by both olive cultivars and areas of origin fulfill the changing taste preferences. It also appeals to the wish for authentic and high-quality ingredients. This has resulted into the growing popularity of virgin olive oil, propelling its prominence in the global olive oil market.
The refined olive oil segment is witnessing the fastest growth in the olive oil market with increasing olive oil market size during the forecast period. At a cheaper price than extra virgin olive oil (EVOO), refined olive oil is produced through refining low-quality olive oil, which cannot be considered as virigin or extra virgin. Rather than using high-quality olives, this technique improves the appearance, taste and storage life of the oil. Lower prices are also opening up refined olive oil to more customers, especially in price-sensitive markets and adding to this product's large market share. With this process, refined olive oil has a higher smoke point than EVOO and is better suited for high-heat cooking methods such as frying, sautéing, and baking. In addition, its neutral taste allows it to serve as versatile ingredient for many culinary preparations including frying, baking salad dressings, and marinades without overpowering the flavor of other ingredients. This practicality makes its widely adopted by consumers who seek versatility and functionality from their cooking oils.
Based on the application, the food and beverage segment are leading the market throughout the olive oil market forecast period. Widely used in Mediterranean cooking, olive oil is also incorporated into the cuisines of many other parts of the world. Due to its versatile nature, it can be utilized in any style of cooking like fried or baked or used as salad dressing. A growing preference for healthy Mediterranean diets has led to greater use of olive oil in home cooking and restaurants, supporting further market growth driven by the food and beverage sector. Consumer trends are positively impacting olive oil as people pursue healthier ways of eating and natural consumer products, which has been facilitated by a growing understanding of the health benefits of olive oil. Olive oil is said to be heart-healthy because it has monounsaturated fats, antioxidants, and anti-inflammatory properties. This is further augmenting its usage than other fats and oils for the food processing as well as consumption, establishing its position in the food & beverage sector.
As per olive oil market analysis, pharmaceutical segment is witnessing the fastest growth in the market during the analyzed timeframe. The worldwide upsurge in the use of olive oil in the pharmaceutical field, is attributed to its nature as an excipient, an inert ingredient that facilitates the administration, stability and potency of APIs. It is an ideal carrier or solvent in oral and topical preparations, because its compatibility with various drugs. The lipophilic nature of olive oil allows it to dissolve lipophilic compounds, therefore enhancing the bioavailability of drugs encapsulated within it and making olive oil an attractive target for pharmaceutical applications. The capability of acting as a solvent for lipophilic compounds increases its applicability in topical ointments and oral medicines resulting in steady growth in demand of this segment.
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The Europe region is expected to dominate the global market. Europe is perfect for growing olives due to an ideal climate found in the Mediterranean region, with lengthy hot summers and mild winters along natural environments which favour olive tree vegetation. Spain, Italy and Greece the most typical countries for olive oil production benefits from these favorable conditions for planting olives and obtaining quality olive oil. It is this geographic characteristic that has an impact upon Europe being the world leader in olive oil production. European Mediterranean countries have a long history of olive farming and oil manufacturing, traditions spanning thousands of years. This wealth of historical and cultural background has long sustained massive knowledge, expertise in cultivation and processing of the olive oil production that leads to high-quality output. In these areas, the cultural importance of olive oil encourages not only domestic consumption but also external demand for European olive oil, maintaining the dominant position of Europe in the market.
North America is witnessing the fastest olive oil market growth as consumer tastes for food options are always changing. People in this region are becoming increasingly aware of the need for healthier food solutions. Nowadays, many knows about the health benefits of olive oil, its rich in nutrients with high amount of monounsaturated fats and antioxidants lower chronic heart disease and cholesterol. There is an increasing preference for olive oil over other fats and oils owing to the shift towards healthy dietary habits. Demand for goods produced nearer to home continues to grow in North America, which comes as no surprise due to sustainability concerns and an urge to support local businesses. As a result, production of olive oil in places like California has risen. Consumers wish to acquire ecologically friendly products from regional businesses, causing North American farmers to pay even more interest in sustainability production, high quality, and traceability. This increasing production figures grow locally, they are complementing imports and adding to the variety available for customers.
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Growing Investment in Sustainable Techniques
Increasing Prevalence of Premiumization and Specialty Olive Oils
Growing Volatility in Olive Oil Prices
Growing Fraud and Quality Assurance Problems
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The olive oil industry is highly diversified and competitive where many market players along with new entrants are participating. Market competition is shaped by consumer demand for quality, taste, and health benefits. The competitive landscape reflects a myriad of socio-economic and environmental forces that propel innovation and differentiation among industry players. A strong brand image, advanced technology and high-quality products are the key drivers of revenue for the market. To broaden their portfolios and sustain a competitive edge within the market, these companies utilize several strategies, including research and development, mergers & acquisitions, and technological innovations.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the olive oil industry is anticipated to grow at a healthy growth rate over the forecast period. Olive oil market is a reflection of its dynamic nature due to various culinary, health and cultural influences. With consumers turning toward healthier options of their diets at higher frequency, olive oil emerges as the ideal option with its high monounsaturated fat content, antioxidants and anti-inflammatory properties. The globalization of taste buds adds to this trend, with drinkers across the globe exposed to a wider range of cuisines naturally creating more interest in the golden nectar. On top of that, the market for olive oil is on the rise as a result of cooking shows, food blogging, and those ever-so-popular celebrity chefs. Apart from its use in cooking, olive oil has made a name for itself in the health and beauty world due to it being an excellent moisturizer and nourisher of hair and skin.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 16.08 Billion |
| Market size value in 2033 | USD 25.16 Billion |
| Growth Rate | 5.1% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Olive Oil Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Olive Oil Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Olive Oil Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Olive Oil Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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