Growing Popularity of Extra Virgin Olive Oil to Drive Global Olive Oil Market
Increasing vehicle
production, growing automobile demand, growing demand for repairing,
maintenance, and replacement, to drive the Global Olive Oil Market through 2023
According to TechSci Research report, “Global
Olive Oil Market, By Type (Virgin Olive Oil, Refined Olive Oil and
Pomace Olive Oil), By Application (Food, Beverages, Personal Care and
Pharmaceuticals), By Distribution Channel (Institutional/Direct Sales Vs.
Retail Sales), By Company and By Geography, Forecast & Opportunities, 2023’’, Global Olive Oil Market is projected to grow at a double
digit CAGR during the forecast period. The major factors driving the growth of
the market are increasing disposable income, growing production of olive oil,
growing consumption per capita and changing dietary style of the consumers
across the globe. The growth in global demand for olive oil has been powered in
part by the health benefits associated with the consumption of olive oil. Due
to diet revolution, the consumption of olive oil has seen an upsurge in
countries like Brazil & Russia, the consumption was increased by over 25%
in 2017 as compared to previous year and whereas France, exceeded its
consumption over 250 percent. Furthermore, the growing acceptance of olive oil
in culinary uses is likely to increase its market demand in food and beverage
applications.
Moreover,
the rising popularity of cold-pressed olive oils among the diet conscious
younger population coupled with the increasing use of olive oil for weight loss
management and people suffering with lifestyle diseases is projected to drive
the growth of the market by 2023. Further, the increasing popularity of global
cuisines, especially in the emerging economies will propel the demand of Olive
Oil by 2023.
Based on type, the market has been
categorised into Virgin Olive Oil, Refined Olive Oil and Pomace Olive Oil. The
Virgin olive oil has gained major traction owing to its improved nutritional
content.
Figaro, Farrel, Del Monte Foods, Unilever Group, Salov,
Borges Mediterranean Group etc, are major companies operating in the Global Olive Oil Market.
In 2017, the Europe & CIS region
dominated the market since countries such as Spain and Italy are the largest
consumer of olive oil followed by North America. Furthermore, the APAC region
is projected to dominate the market since emerging economies such as India,
China, and Japan have witnessed a rapid increase in the demand for olive oil
coupled with domestic production. Moreover, consistent government norms to
propel the production in countries such as Brazil are anticipated to boost the
olive oil market.
“The growing popularity of
Virgin Olive Oil among the health-conscious population due to a host of health
benefits associated with its use is likely to drive the growth of the Global
Olive Oil Market by 2023. Moreover, factors such as high disposable
incomes, increasing urbanization and globalization of food trade is anticipated
to drive the Olive Oil market through 2023.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Global
Olive Oil Market, By Type (Virgin Olive Oil, Refined Olive Oil and
Pomace Olive Oil), By Application (Food, Beverages, Personal Care and
Pharmaceuticals), By Distribution Channel (Institutional/Direct Sales Vs.
Retail Sales), By Company and By Geography, Forecast & Opportunities, 2023’’
has evaluated the
future growth potential of Global Olive Oil market and provides statistics and information
on market size, structure and future market growth. The report offers decision
makers superior market intelligence, thereby enabling them conduct thorough
investment appraisal. Besides, the report also analyzes the evolving market inclinations along
with indispensable drivers, challenges and opportunities in Global Olive Oil
Market.
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