The global market for olive oil is growing at a significant pace globally, owing to its rising demand from various sections for consumers. Olive oil accounts to be a key ingredient of the Mediterranean cuisine owing to the associated health benefits such as fighting depression, reducing risk of cancer, preventing osteoporosis, and minimizing chances of cardiac diseases among others, which acts as a major driver to the market. An increasing consumption trend in the Asia Pacific and North America is boosting the demand for olive oil substantially. The major applications of olive oil is observed in the soaps, cosmetics and pharmaceuticals, however, the adoption of olive oil in food and beverage in North America and Asia Pacific has fuelled the growth of the market to a large extent. These factors are expected to continue driving the market for olive oil throughout the forecast period.

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The market for olive oil also experiences restraints such as limited production environment. Olive oil is chiefly produced in the Mediterranean countries such as Spain and Italy among others. Owing to this the market experiences major fluctuations in prices at the global level. The market for olive oil can be segmented on the basis of type and geography. Based on the segmentation by type, the market can be segmented into virgin olive oil, refined olive oil, extra virgin olive oil and others. The type of olive oil is graded based on the extraction methodology and chemical treatment associated with it.

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Based on the geographical segmentation, the global olive oil market has been classified into regions such as North America, Europe, Asia Pacific and the Rest of the world. The demand for olive oil is presently highest in Europe owing to the major production facilities in countries such as Spain, Italy, Greece and Turkey among others. Spain and Italy account for more than 55% of the global market share of olive oil. In North America region, the U.S. market for olive oil in food and beverage is growing at a rapid pace owing to the surging demand from consumers for the nutritional values of olive oil. The U.S. accounts to be third largest consumer of olive oil in the world with domestic olive oil production facilities in Arizona, Texas and California.

However, the Asia Pacific is estimated to be the fastest growing market over the period of forecast, owing to the increasing health consciousness of consumers in countries such as India, China, Japan, Australia and others. Rest of the world region includes the Middle East, Africa and South America. The countries in Middle East such as Saudi Arabia, UAE and Qatar among others are also estimated to be growing markets for olive oil owing to the growing foreign immigration in the region. Various developing nations across the world such as Brazil and India have undertaken initiatives to produce olive oil indigenously to meet the domestic consumer demands, however, the success of such initiatives are still limited. Some of the major players in the global olive oil market include Salov, Deoleo, Borges, Colavita, Sovena Group, Pompeian and Ybarra among others.

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