Olive Market Revenues to Reach USD 17.99 billion by 2028 – Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence
Hyderabad, July 04, 2023 (GLOBE NEWSWIRE) — According to a new market research report titled “Olive Market Report (2023-2028),” the market is estimated at USD 14.20 billion in 2023. It is expected to register a CAGR of 4.85% during the forecast period.
The olive industry has augmented in recent years, majorly driven by a shift in the consumption pattern toward including olive oil in regular diet and using table olives in non-European countries. The demand for olives is wider than just the food industry. The demand for olives is rapidly growing from the cosmetic industry to make products from olive oils, along with the biological fuel sector. Biofuel is derived from the cultivation of olive trees and the manufacture of olive oil.
|Market Size (2023)||USD 14.20 billion|
|Market Size (2028)||USD 17.99 billion|
|Fastest Growing Market||Europe|
|Forecast Units||Value (USD billion)|
|Report Scope||Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends|
|Key Market Drivers||Dietary changes are leading to an upsurge in olive oil demand.|
|Usage table olives in non-European countries.|
Other Reports That Might Be of Your Interest:
- Africa Olive Market Report – The African olive market is expected to register a CAGR of 5.5% during the forecast period.
- North America Olive Market Report – The North American olive market size is estimated at USD 6.53 billion in 2023. It is expected to reach USD 8.63 billion by 2028, registering a CAGR of 5.74% during the forecast period (2023-2028).
Key Highlights from the Olive Market Report:
Dietary Changes Leading to an Upsurge in Olive Oil Demand
- There is a rising demand for oil and olive products, essentially because of their health benefits. Traditionally based in Mediterranean countries, olive oil consumption has now reached middle-income families’ households and affluent consumers in China, Brazil, and India.
- The global demand for table olives has stemmed from using olives as snacks. The manufacturers apply various fermentation methods to treat olives and offer the final assorted products for consumption.
Europe Owns Significant Olive Market Share
- The European region holds a major share of global consumption. Spain, Italy, Greece, and France account for over 80% of the olive consumption. In France, the consumption of table olives was recorded at 65 thousand metric tons in 2017, which increased to 70 thousand metric tons by 2020.
- The European Union is the foremost consumer, producer, and exporter of olives. As per the FAO, in 2017, the harvested area of olives in Europe was estimated at 4.9 million hectares, which increased to 5.1 million hectares by 2020. According to the International Olive Council, the European region reported almost 22% of global olive consumption in 2020.
What are the Latest Developments in the Olive Market?
- In September 2022, the UN Food and Agriculture Organization (FAO) and the European Bank for Reconstruction and Development (EBRD) collaborated with the Ministry of Agriculture and the European Union to organize two training sessions for key companies in Jordan on the best practices on olive oil mining and olive oil quality.
- In May 2022, the Torribera Food and Nutrition Campus, Faculty of Pharmacy and Food Sciences, and the Institute for Nutrition and Food Safety Research (INSA) of the University of Barcelona presented a new methodology to determine the geographical origin of olive oil to help tackle adulteration and commercial fraud cases.
- In January 2022, the Italian government passed a law to protect suppliers and operators from heavy contractual agreements deterring profitability and prohibiting the sale of extra virgin olive oil below cost.
Mordor Intelligence has Segmented the Global Olive Market Based on Geography:
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United states
- South America
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Olive Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.
- Olive Market – Mordor Intelligence
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