Organic Olive Oil Market Size Report 2024 And Organic Olive Oil Market Share By 2033
Overview and Scope
Organic olive oil refers to olive oil produced from olives grown without the use of synthetic pesticides, fertilizers, or genetically modified organisms (GMOs). This type of olive oil adheres to organic farming standards and practices, ensuring the oil is natural and free from chemical residues. It is highly valued for its versatility and benefits across culinary, health, and cosmetic applications and rich in monounsaturated fats and antioxidants, which help reduce bad cholesterol levels and promote health.
Sizing and Forecast
The organic olive oil market size has grown strongly in recent years. It will grow from $1 billion in 2023 to $1.09 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to rising consumer awareness about health benefits, increasing disposable income, growing popularity of mediterranean diet, expansion of organic farming practices, government subsidies and support, improvements in supply chain infrastructure, rise in specialty food stores.
The organic olive oil market size is expected to see strong growth in the next few years. It will grow to $1.59 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to increasing demand for organic products, advancements in organic farming techniques, expanding e-commerce platforms, a rising number of health-conscious consumers, innovative marketing strategies, premiumization of food products, and regulatory support for organic farming. Major trends in the forecast period include blockchain for traceability, eco-friendly packaging, AI in agriculture, cold-pressed extraction technology, the development of new organic certifications, digital marketing and social media influence, and the and the use of drones in olive cultivation.
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Segmentation & Regional Insights
The organic olive oil market covered in this report is segmented –
1) By Type: Virgin Olive Oil, Extra Virgin Olive Oil
2) By Distribution Channel: Hypermarkets Or Supermarkets, Grocery Store, Online, Other Distribution Channel
3) By End User: Food Processing, Food Service, Cosmetics And Personal Care, Pharmaceuticals, Other End Users
Europe was the largest region in the organic olive oil market in 2023. The regions covered in the organic olive oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising demand for functional foods is expected to propel the growth of the organic olive oil market going forward. Functional foods refer to components derived from natural sources that provide additional health benefits beyond essential nutrition. Consumers are becoming more aware of the link between diet and health, leading to a preference for foods that offer health benefits beyond essential nutrition. Organic olive oil is used in functional food due to its high content of antioxidants and healthy monounsaturated fats, which provide numerous health benefits, such as reducing inflammation and improving heart health. For instance, in February 2022, according to a report published by Agriculture and Agri-Food Canada, a Canada-based government agency, the retail sales value of the health and wellness food and beverage sector in the United States increased to $191.9 billion in 2021, compared to $191.7 billion in 2020. Additionally, fortified or functional foods and beverages are expected to grow by 15.3%, and the health and wellness category is projected to reach $218.1 billion in 2025, reflecting a 13.8% increase compared to 2021. Therefore, the rising requirement for functional foods drives the organic olive oil market.
Key Industry Players
Major companies operating in the organic olive oil market are Minerva S.A., Sovena Group S.A., Deoleo S.A., Borges Organic Olive Oil Company, Roland Foods LLC, California Olive Ranch Inc., Cobram Estate Olives Limited, Terra Delyssa, Curation Foods Inc., Belazu Ingredient Company Ltd., La Tourangelle Inc., Colavita S.p.A., Monini S.p.A., Oleificio Zucchi S.p.A., Castillo de Canena Olive Juice S.L., Ybarra Alimentación S.A., Oleoestepa S.C.A., Grupo Maeva S.L., Bariani Olive Oil LLC, Enzo Olive Oil Company, Lamasia Comunicacion S.A., Lucini Italia Co., Kosterina Inc., Frantoio Franci S.R.L., Gaea Products S.A.
The organic olive oil market report table of contents includes:
1. Executive Summary
2. Organic Olive Oil Market Characteristics
3. Organic Olive Oil Market Trends And Strategies
4. Organic Olive Oil Market – Macro Economic Scenario
5. Global Organic Olive Oil Market Size and Growth
……………
32. Global Organic Olive Oil Market Competitive Benchmarking
33. Global Organic Olive Oil Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Organic Olive Oil Market
35. Organic Olive Oil Market Future Outlook and Potential Analysis
36. Appendix
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