- Global Olive Oil in Food and Beverages Market to See Enormous Opportunities in North America and Asia Pacific. 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 many health...
Global Olive Oil in Food and Beverages Market to See Enormous Opportunities in North America and Asia Pacific. 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 many health benefits of olive oil will prove to be the greatest driver for olive oil market in food and beverages industry. With studies evidencing the ability of olive oil to help in the prevention of osteoporosis, cancer, and cardiac diseases, consumers are now more willing to switch over from other vegetable and seed oils to olive oil, finds the report.
The report is titled ‘Olive Oil in Food and Beverages (Virgin Olive Oil, Refined Olive Oil, Extra Virgin Olive Oil) Market – Global Industry Analysis, Size, Share, Trends and Forecast 2015–2023.’
The report profiles the following major players in the global olive oil for food and beverages market: Salov, Borges, Deoleo, Sovena Group, Colavita, Ybarra, and Pompeian.
Although olive oil has been an integral part of Mediterranean cuisine, sales of olive oil are beginning to grow remarkably in Asia Pacific and North America. It is the demand from these two major regional markets that is fuelling the growth of the global olive oil in food and beverages market.
And, while olive oil has traditionally found applications soaps and cosmetics and pharmaceutical products, its use in the food and beverages industry is showing a dramatic uptick. This trend will continue to be seen over the next few years. Despite several opportunities, the growth of the olive oil market faces one major hindrance – the production of olive oil is limited to the Mediterranean region. Any change in the market dynamics in traditionally olive oil producing countries such as Spain and Italy causes the supply and consequently prices of olive oil to fluctuate.
To study how these factors will collectively impact the global olive oil in food and beverages market, the report segments the market by type and geography. The market, by type, has been segmented into virgin olive oil, extra virgin olive oil, and refined olive oil. By geography, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. With Europe standing as the leading producer of olive oil, the demand for this product is also high in the region. Italy, Spain, Greece, and Turkey produce an appreciable share of olive oil sold worldwide, making these national markets the most crucial from the global standpoint.
Together, Spain and Italy claim over 55% of the global olive oil in food and beverage market. Dynamic growth is being observed in the olive oil market for food and beverage in North America with consumer interest in olive oil having peaked in recent years. In North America, the United States leads in the consumption of olive oil and has domestic production facilities in states such as Arizona, California, and Texas. This has also helped the United States claim the third position in the global olive oil in food and beverages market, the report states.
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