Extra Virgin Olive Oil Market Expected to Grow during the forecast period
Global Extra virgin olive oil market size – Overview
Due to the large
number of health advantages associated to extra virgin olive oil consumption,
the market is growing at an incremental pace on the global stage. Market
Research Future, a firm which specializes in market reports related to the
Food, Beverages & Nutrition sector among others, recently forecasted in its
report on ‘Global Extra virgin olive oil market size Research Report- Forecast
to 2023’ that the market will demonstrate an exceptional CAGR % while achieving
good growth rapidly in the forecast period.
Increasing health
awareness and rising demand for oils imparting healthy fats have prompted the
high growth of extra virgin olive oil market size. Extra virgin olive oil
consumption is identified to reduce the risk of heart diseases. The oil
contains healthy monounsaturated fatty acid content and polyphenols which act
as antioxidants. The nutrient content of the oil is one of the major factors
responsible for its high growth in the global market. Escalating in health
consciousness and shift in consumers spending behavior is giving a boost to the
extra virgin olive oil market size.
Health factors like
cholesterol level maintenance, blood pressure level management and blood sugar
regulation can be effectively addressed with the incorporation of extra virgin
olive oil into daily diet. Increase in fitness and wellness sector awareness
has enhanced the market growth trajectory of the sector to an elevated level.
Fast pace of lifestyle, increase in awareness related to diverse effects of
consumption of oils with high level of saturated fatty acids have led to
consumers demanding healthy oils to balance their nutritional requirements.
However, product adulteration is identified to possess high threat to the
growth of this market.
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Latest Industry
Updates
Oct 2017 To suffice
the rising demand for extra virgin olive oil and to promote the consumption of
healthy oils, Agriculture Minister Khaled Hneifat, Olive Presses Association
President Inad Fayez (Amman, Jordan) signed a memorandum to launch the 6th
national campaign to market local olive oil to public and private sector
employees for the season.
Jan 2017 To meet the
rising demand for healthy oil from consumers’ end, Clover acquired Olive Pride
business from Southern Canned Products (SCP). The strategy will help the
company to strengthen their product portfolio and generate high revenue.
Sep 2016 To enter into
the olive oil business and gain consumers attention towards the offerings,
Filippo Berio announced the launch of 'robustly flavoured' 100% Italian extra
virgin olive oil.
Mar 2016 To reduce the
chances of counterfeit products in the global oil market, Italy launched olive
oil certification label. The certification label will help in combating fraud
and will allow product traceability.
Global Extra virgin
olive oil market size - Competitive Analysis
With the entry of new
industrial players in the extra virgin olive oil segment, established players
are continuously involved in product improvisations and constantly keep adding
new products to their offerings. With companies aiming to capture a
considerable share of the market segment as early as possible, they are competing
in terms of quality and creating product differentiation to gain consumers
attention. The best long-term growth opportunities for this sector can be
captured by ensuring ongoing process improvisations to enhance their product
capacity and curing techniques.
The key players
profiled in extra virgin olive oil are Cobram Estate (Australia), Agro Sevilla
Group (Spain), SALOV NORTH AMERICA CORP (U.S.), Star Fine Foods - Borges USA
(U.S.), Grupo Ybarra Alimentación (Spain), DEOLEO (Spain), SOVENA (Portugal),
and Carapelli Firenze S.p.A (Italy) among many others.
Global Extra virgin
olive oil market size – Segments
The global extra virgin olive oil
market size has been divided into packaging material, application, distribution
channel and region.
On The Basis Of
Packaging Material: Glass, Plastic, Metal, Others
On The Basis Of
Application: Culinary, Cosmetics, Pharmaceuticals, and Others
On The Basis Of
Distribution Channel: Store Based, and Non-Store Based
On The Basis Of
Region: North America, Europe, Asia Pacific, and ROW.
Global Extra virgin
olive oil market size - Regional Analysis
The global extra
virgin olive oil market size is segmented into North America, Europe, APAC, and
Rest of the World (RoW). Global dietary market is highly dominated by North
America and Europe due to high awareness and adoption of healthy lifestyle by
the consumers. APAC is fastest growing region due to changing lifestyle and
improved disposable income in the region. The consumption extra virgin olive
oil in developing countries is anticipated to grow at a high rate in the
upcoming years.
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NOTE: Our Team of
Researchers are Studying Covid19 and its Impact on Various Industry Verticals
and wherever required we will be considering Covid19 Footprints for Better
Analysis of Market and Industries. Cordially get in Touch for More Details.
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