Olive Oil Market: Estimation & Definition

The Olive Oil Industry was valued at approximately USD 11.29 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 6.13% through 2032, ultimately reaching a value of around USD 18.17 billion. Olive oil, extracted by pressing olives, is widely recognized for its rich nutritional profile, including monounsaturated fats, antioxidants, and essential vitamins. Beyond culinary applications, olive oil is also extensively used in pharmaceuticals, cosmetics, and skincare formulations due to its therapeutic and moisturizing properties.

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Market Growth Drivers & Opportunities

The market’s steady expansion is driven by several key factors:

• Rising Health Awareness: Increasing awareness of health benefits associated with olive oil consumption, such as reducing cholesterol, controlling inflammation, and lowering the risk of chronic diseases, is significantly boosting its global demand.

• Growth in Disposable Income: Emerging economies are witnessing a rise in disposable income, which is leading consumers to opt for premium and healthier edible oils, contributing to olive oil’s popularity.

• Expanding Applications: Beyond food, olive oil’s growing use in the pharmaceutical, cosmetics, and personal care industries adds further momentum to its market expansion.

• E-commerce Growth: The rising penetration of e-commerce platforms, especially in developing countries, provides new avenues for olive oil distribution and consumer engagement.

Opportunities for market participants include the growing demand for organic, cold-pressed, and premium olive oils, as well as the introduction of fortified variants to cater to health-centric consumers.

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Segmentation Analysis

The olive oil market is segmented by type, source, application, and distribution channel:

Based on the Type, the global Olive Oil market is sub-segmented into Virgin olive oil, Extra-Virgin Olive Oil, Pomace Olive Oil, and Others. The Virgin olive oil segment held the largest market share of xx% in 2024. This is due to rising demand from health-conscious customers since it includes natural vitamins and minerals and is beneficial against cardiovascular disorders, osteoporosis (bones), elevated vital signs, diabetes, and Alzheimer's disease. Also, the pomance olive oil segment held the 2nd largest market share of 6.13% in 2024. This is due to the fact that pomace olive oil is more affordable and widely available olive oil. Despite the fact that pomace olive oil has been processed, it is still seen as a superior option to other oils on the market and is thus in great demand when compared to other olive oils.

Based on the Application, the global Olive Oil market is sub-segmented into Food and Beverage, Pharmaceuticals, and Cosmetics. The Food and Beverage segment held the largest market share of 6.13% in 2024 and it is expected to grow at the highest CAGR of 6.13% in the global olive oil market during the forecast period. Consumers' desire to live a healthy lifestyle has escalated the use of vegetable oil in a variety of food items as a cost-effective substitute. Vegetable oil is also used to season salads in order to preserve the antioxidants and phenols in vegetables and legumes. The product has become an important element of diabetic patients' diets since it is the primary source of healthy fats for diabetics.

Regional Insights:

Asia Pacific is expected to grow at the highest CAGR of 6.13% in the global Olive Oil market during the forecast period. This signifies that throughout the projection period, the region will have the highest compound annual growth rate. This is due to an increase in the adoption of a healthier lifestyle, increased awareness of the health benefits of olive oil, and more personal discretionary money. Residents' discretionary income increased by 5.8% in 2022, according to the State Council of the People's Republic of China. China's disposable income per capita is 30,733 yuan ($ 4,461.95), up 5.5 percent over the previous year.

Commutator Analysis

1.DEOLEO
2.SOVENA
3.BORGES INTERNATIONAL GROUP
4.Minerva
5.Gallo
6.Vendors covered
7.Vendor classification
8.Market positioning of vendors
9.AVRIL
10.Bright Food
11.Almazaras de la Subbetica SL
12.Salov SpA
13.Avenida Rafael Ybarra
14.Cargill
15.Rafael Salgado
16.World Excellent Productions S.A.
17.POMPEIAN.
18.MONINI
19.Antonio Celentano Extra Virgin Olive Oil
20.Colavita.

Conclusion

The global olive oil market is poised for steady, long-term growth, driven by health awareness, expanding applications, and technological advancements. With an expected market value surpassing USD 18 billion by 2032, the sector offers significant opportunities for innovation in product types, distribution strategies, and traceability solutions. Established and emerging players alike are well-positioned to capitalize on this momentum through strategic investments and consumer-centric offerings.