Olive Oil Market: Introduction:
Olive oil is obtained from olives which is a traditional tree crop of the Mediterranean Basin. Olive oil is native to the Mediterranean regions especially is found in Spain Italy and Greece. The composition of Olive Oil varies with altitude, time of harvest and extraction process. Olive Oil mainly consists of oleic acid, with the smaller amount of fatty acids including linoleic acid (up to 21%) and palmitic acid (up to 20%). Olive oil has a wide range of application in food and cosmetics industries.
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Olive Oil Market: Segmentation:
The Olive Oil Market can be segmented into its source, types, and application
On the basis of source, the Olive Oil market can be segmented into organic and conventional sources. Among these sources, an organic segment has been anticipated to have the higher volume share due to the rising demand and the health benefits associated with organic products.
On the basis of types, the Olive Oil market can be segmented into extra virgin olive oil, virgin olive oil, and pure olive oil. Extra Virgin Olive Oil can be further sub-segmented into extra virgin olive oil, Organic extra virgin olive oil, and Protected Designation of Origin and Protected Geographical indication. Among these types, Extra Virgin Olive Oil is being anticipated to have higher value sales due to its rise demand among the target customers.
On the basis of application, Olive Oil market can be segmented into food and beverage industry, Pharmaceutical industry and cosmetic industry. Due to its large application in food industry, Olive oil’s application in this industry is being anticipated to have higher value share as compared to other application.
Olive Oil Market: Regional Outlook:
A regional segment for the market of Olive Oil is divided into five different regions: North America, Latin America, Europe, Asia Pacific including Japan and Middle East & Africa. European countries like Spain, Italy, and Greece are being considered as the largest producer of Olive Oil. Moreover, per capita consumption is the highest in Greece followed by Spain, Italy, and Morocco. Owing to the high rate of production and consumption in these regions, European region is being expected to have higher volume share for global Olive Oil market. On the other hand, North America has been witnessing a steady rise in consumption rate for Olive Oil. As a result, North America has been considered as the emerging market for Olive Oil market.
Olive Oil Market: Drivers and Restraints:
Olive oil has a vast range of application in the cosmetic industry. Olive oil helps in maintaining skin quality, improves skin health and cures crack heels. Olive oil is an anti-oxidant agent, it is being used in anti-aging creams as well. Moreover, it helps in keeping hair roots healthy and it is being used as a Pre-shampoo treatment. The antioxidant effects of olive oil guide the product to have the wide range of application in pharmaceutical industry. Olive oil is being used in the treatment of many chronic diseases. Olive Oil helps in the treatment of Coronary heart disease, hypertension and several types of Cancers such as Breast Cancer and Colon Cancer. The product’s antimicrobial activity helps in the treatment of intestinal and respiratory infections. Olive oil is also being used as an ointment for muscle pain and joint pain. Owing to its wide range of application in the pharmaceutical and cosmetic industry helps drive the demand for the global olive oil market.
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Olive Oil Market: Key Players:
Some of the key players in Olive Oil Market are Filippo Berio P.Iva, Colavita USA, LLC, California Olive Ranch, JCS Tradecom, Inc., Pompeian Olive Oil Company, Lucero Olive Oil, Mizkan America, Inc., Unilever (Gallo), Pure Hellenic Foods S.A., Gourmet Foods Inc. and various other companies.