Extra Virgin Olive Oil Market: By Category (Virgin Olive Oil, Pure/refined Olive Oil and Other Olive Oil), By Packaging (Bottles, Jars and Cans), By End-user (Household, Foodservice Sector), By Distribution channels (Hypermarkets/Supermarkets, Convenience Stores, e-Retail, Independent Small Grocery Stores, Food & Drink Specialty Stores) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) - Forecast 2027

ID: VPR/F&B/1275 Publishing Year: December 2021 Pages: 185 Format:   


 

Extra Virgin Olive Oil Market Overview:

Global Extra Virgin Olive Oil Market was valued at $ 9.21 billion in 2020 and is expected to reach $ 13.92 billion by 2027, registering a CAGR of 6.08% from 2021 to 2027.

Extra virgin olive oil is a high-quality, minimally processed, unprocessed olive oil that has no chemicals and is high in nutrients. It contains less oleic acid and maintains the natural flavor of olives. Olive oil that has not been processed offers greater health and aesthetic advantages than olive oil that has been refined. People prefer unprocessed olive oil as a result, and the market for extra virgin olive oil has been increasing in recent years. Extra virgin olive oil is utilized in a variety of industries, including food, cosmetics, and personal care. Extra Virgin Olive Oil is utilized by a large portion of the world's population since it is a multifunctional liquid.

Olive oil is produced organically from olives harvested from the olive tree. The oil is high in antioxidants and has a good supply of monounsaturated fatty acids, making it an important part of the Mediterranean diet (MUFAs). Because it is the least processed of all edible oils, it protects the body from cellular damage, which may lead to a variety of illnesses and health problems.

The increasing incidence of heart disease is driving consumers to seek out healthier foods, which likely increase will demand extra virgin olive oils, which are high in antioxidants. Furthermore, the global Extra Virgin Olive Oil Market is anticipated to be driven by the rising popularity of functional food items as people become more conscious of the need of eating healthy foods in the future years. Extra Virgin Olive Oil Market is also a versatile oil that is utilized in the restaurant sector for marinades, sauces & dressings, baking, shallow frying, and other applications. Because of its excellent health qualities, it is also extensively used in homes for cooking.

However, with the high cost of olive fruit oil, customers are looking for low-cost alternative oils that have comparable health benefits. Because of their high concentration of essential fatty acids, sunflower oil, canola oil, and coconut oil are gaining favor among consumers. Manufacturers are investing in new technologies that improve the retention of key elements in these oils throughout processing. As a result, demand for sunflower and canola oil as a substitute oil has risen considerably. In comparison to olives, sunflower seeds have a cheaper cost of cultivation, storage, and processing, which limits Extra Virgin Olive Oil Market development.

Impact of COVID-19 on the Extra Virgin Olive Oil Market

People stopped going out and remained in throughout the pandemic. This switched their attention to domestic matters such as food shopping and what they eat on a daily basis. As the popularity of home-cooked meals increased, so did the need for healthy cooking oils. 

As a result, extra virgin olive oil, like other food necessities, increased in popularity. However, a worldwide supply chain interruption had a severe impact on the sale of olives and the extraction of olive oil. The extra virgin olive oil industry is mostly dependent on extraction and processing, thus supply has been impacted. However, the oil was still being used, and money was still being generated. After nations re-establish the supply chain, the Extra Virgin Olive Oil Market will rebound in the post-pandemic era. The Extra Virgin Olive Oil Market will revive when mass vaccinations take place and countries return to normality.

Key Players

  • Bertolli, Inc.
  • Aceites La Masia
  • Salov SpA
  • Gallo
  • Deoleo S.A.
  • Aceites Ybarra S.A.
  • Sovena Group
  • Del Monte Foods, Inc.
  • Cargill, Inc.
  • Nutrinveste SGPS, SA

Segmental Analysis

Virgin olive oils are anticipated to do well in the market due to their increasing popularity among consumers, which is attributable to increased knowledge of their health advantages. Because of its increasing use in medicines, nutritional supplements, and cosmetics, the refined/pure sector is expected to expand significantly.

By Category

  • Virgin Olive Oil
  • Pure/refined Olive Oil
  • Other Olive Oil

By Packaging

  • Bottles
  • Jars
  • Cans

By End-user

  • Household
  • Foodservice Sector

By Distribution channels

  • Hypermarkets/Supermarkets
  • Convenience Stores
  • e-Retail
  • Independent Small Grocery Stores
  • Food & Drink Specialty Stores

By Region

  • North America
  • Europe
  • Latin America
  • APAC
  • Middle East and Africa

Regional Analysis

The demand for extra virgin olive oil in various areas splits the market into distinct regional marketplaces. According to a study of the olive oil business, European nations are the largest consumers of market basket extra virgin olive oil. Because it is interwoven into the cuisine, Spain and Italy are natural consumers of market basket extra virgin olive oil. In addition, the value of the Extra Virgin Olive Oil Market in the United States will rise during the projected period. The European area, however, will continue to be the most important regional market for extra virgin olive oil.



Frequently Asked Questions
Extra Virgin Olive Oil Market is predicted to grow at 6.08% through forecast period of 2020-2027
By 2027, worth USD 13.92 Billion is estimated for the global market.
The increasing incidence of heart disease is driving consumers to seek out healthier foods, which likely increase will demand for extra virgin olive oils, which are high in antioxidants. Furthermore, the global Extra Virgin Olive Oil Market anticipated to be driven by the rising popularity of functional food items as people become more conscious of the need of eating healthy foods in the future years.
Bertolli, Inc., Aceites La Masia, Salov SpA, Gallo, Deoleo S.A., Aceites Ybarra S.A., Sovena Group, Del Monte Foods, Inc., Cargill, Inc., Nutrinveste SGPS

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