Olive oil is a form of fat obtained from the fruit of Olea europaea (olive tree). Olive oil is enriched with healthy fatty acids and it is widely preferred for it properties to prevent heart diseases by maintaining cholesterol levels in the body. It also have moisturizing and exfoliating properties, which leads to it usage in various skincare and personal care products.
Based on type, the global olive oil market has been segmented into extra virgin, virgin, refined and others. The extra virgin segment is anticipated to gain the largest revenue share in the global olive oil market and shall maintain lead throughout the forecast period. Extra virgin olive oil is preferred by the health-conscious consumers, as it contains less than 1% of acidity. Moreover, extra virgin olive oil is obtained from cold-press and pure olives, whereas refined oil is a blend of processed oil and cold-pressed oil. This is a crucial determinant that is catalyzing the growth of extra virgin segment in the global olive oil market. The same segment is expected to grow with the highest growth rate owing to the health benefits associated with extra virgin olive oil.
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The global olive oil market has been segregated, by category, into organic and conventional. The conventional segment is expected to garner major share in the global olive oil market owing to the huge availability of conventional olive oil. However, the organic segment is anticipated to project a higher CAGR during the forecast period due to the rising inclination of consumers towards organic olive oil.
The global olive oil market has been segregated, by distribution channel, into store-based and non-store based. The store-based segment has been further segregated into supermarkets and hypermarkets, convenience stores, and others. The store-based segment is expected to generate higher revenue, with the supermarkets and hypermarkets sub-segment being the largest due to the strong and widespread network of stores. The non-store-based segment is expected to register the higher CAGR during the assessment period owing to technological advancements in the e-commerce industry and growing consumer preference for online retailing.
The global olive oil market has been segmented on the basis of region, into North America, Europe, Asia-Pacific, Rest of the World.
Europe is expected to dominate the global olive oil market owing to the large production of olive oil in the region. Countries such as Spain, Portugal, and Italy are among the largest producers of olive oil in the region.
Asia-Pacific and RoW olive oil market is expected to grow at a rapid pace due to the surging production and consumption of olive oil in the regions. Moreover, North America is also expected to project a significant market share owing to the increasing awareness regarding the health benefits of olive oil and increasing preference of healthy food supplements among the consumers in the region.
The global olive oil market has been segmented based on type, category, distribution channel, and region.
By type, the global olive oil market has been classified as extra virgin, virgin, refined and others.
By category, the global olive oil market has been classified as organic, and conventional.
On the basis of distribution channel, the global makeup remover market has been divided into store-based and non-store-based. Store-based is further divided into hypermarket & supermarket, convenience store and others. Non-store-based is also further segmented into e-commerce.
Some of the key players in the global olive oil market are Salov S.p.A (Italy), Borges Branded Foods SLU (Spain), Grupo Ybarra Alimentación, SL (Spain), Sovena Group (Portugal), DEOLEO S.A.(Spain), Del Monte Pacific Limited (Singapore), The Unilever Group (UK), Cargill, Incorporated (US), Jindal Retail India Pvt. Ltd. (India), and GALLO Worldwide, Lda. (Portugal).
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