Key Insights: Global Olive Oil Market
Spiraling Olive Oil Demand amid Falling Supply Continues to Jack-up Prices through 2022
The recent consequences of adverse climatic events in the key olive growing regions within the Mediterranean have taken a severe toll on olive production, thereby affecting volumetric output of olive oil. As the olive yield, supply, olive oil volumes, and overall prices prominently rely on a set of external factors including weather, Spain and Italy have had experienced skyrocketing olive oil prices in the recent years.
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Once known only to the regions bordering the Mediterranean Sea, the fame and virtues of olive oil have spread far and wide, giving rise to a global market for olive oil products. The first thought that comes to one’s mind is usually immense health benefits of olive oil when used as a cooking oil, but one also can’t ignore the rising applications of olive oil in industries as varied as pharmaceuticals and cosmetics. While Europe might be the largest region largely due to its long heritage in the olive oil market, the fast-growing APEJ region is anticipated to become a driving force in the olive oil market in the long term.
Olive Oil Contains Large Amounts of Antioxidants
- Extra virgin olive oil is fairly nutritious.
- Apart from its beneficial fatty acids, it contains modest amounts of vitamins E and K.
- But olive oil is also loaded with powerful antioxidants.
- These antioxidants are biologically active and may reduce your risk of chronic diseases .
- They also fight inflammation and help protect your blood cholesterol from oxidation — two benefits that may lower your risk of heart disease
According to the report published by Fact.MR, the global market for olive oil is expected to grow at moderate CAGR, raking revenues worth over US$ 11 Bn by the end of 2022. A few of the projections from Fact.MR’s report on the global olive oil market have been highlighted below to give you an understanding of the current as well as future growth opportunities –
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- The processed segment dominates the olive oil market by product type and it is anticipated to remain so for the foreseeable future. With a revenue share approaching three fourth of the olive oil market, it wouldn’t be surprising if key players decided to focus their attention exclusively on this product type. Europe accounts for the largest regional contribution of approx. 1/3rd which works out to just over US$ 2.4 billion in 2022.
- The virgin segment of the olive oil market is much smaller than its processor brethren and it occupies the remaining portion of the olive oil market by product type. Along with Europe, major companies involved in the olive oil market could seek to target the APEJ region as it is just slightly smaller than Europe in terms of revenue contribution with a value almost touching US$ 700 million in 2017 itself.
- The food processor segment occupies a comparative niche in the olive oil market with a revenue share just approaching a quarter in terms of end user segment. A moderate CAGR for the period 2017-2022 means that this segment needs a customized approach to be truly successful in. Europe is on track to record the highest CAGR for the period which should help it be worth just under a billion dollars by end of 2022.
- The E-commerce boom is expected to bring about sweeping changes across diverse industries in the near future and the olive oil market should be no different. As Internet connectivity improves in emerging markets and the cost of data-centric smartphones plummets, consumers will certainly seek to purchase olive oil from the comfort of their homes. A revenue share of just over a fifth is hardly indicative of the immense potential this distribution channel of the olive oil market holds in the long term.
- The Mediterranean Basin is the original home of the olive tree and therefore it isn’t surprising that Europe is the largest regional contributor in the olive oil market. A market value pushing past US$ 3 billion at the end of the forecast period promises ample opportunities for all players. Within this region, companies might look at targeting the processed segment as it is poised to record a steady CAGR according to this five-year study.
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The report has also traced key players in the global olive oil market.
- The Adani Wilmar Ltd.
- Adams Group Inc.
- Ruchi Soya Industries Ltd.
- Bunge Limited.
- Cargill Inc
- Associated British Foods (Ach)
- Archer Daniels Midland Company
Regional analysis includes
• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
• EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
• CIS & Russia
• Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
• Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa, Rest of MEA)
For More Insights : http://www.globenewswire.com/en/news-release/2018/10/18/1623531/0/en/Olive-Oil-Market-Revenue-to-Approach-US-11-Bn-by-2022-despite-Dire-Supply-Demand-Pricing-Setback-Unleashes-the-New-Intelligence-Study-by-Fact-MR.html
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