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 Dynamics:

During the forecast period, the global market is expected to be driven by steady demand for vegetable oil from end-user industries. Vegetable oil is used in the food and beverage industry, as well as in the sweetness care and cosmetics sector and, as a result, in the pharmaceutical sector. The need for vegetable oil will most likely increase as those industries continue to grow.

Due to increased consumer knowledge of the multiple benefits of ingesting vegetable oil and a robust economic process, the global market for vegetable oil is seeing substantial growth. The population of wealthy countries is progressively adopting Western lifestyles. One of the most important factors propelling the global vegetable oil industry is generally linked to this

Olive oil is gluten-free, making it a healthier and more delicious alternative to other edible oils. It's high in oleic acid and antioxidants, which aid to reduce inflammation and reduce the incidence of chronic and cardiac illnesses. Olive oil also aids in the treatment of rheumatoid arthritis and osteoporosis, as well as the prevention of type 2 diabetes, stomach cancer, and stomach ulcers. The demand for olive oil is expected to rise as a result of all of the above reasons for the health benefits linked with its intake.

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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.

Europe held the largest market share of 39% in 2024. Due to the great output of olive fruit oil in this region, Europe dominates the olive oil industry, and this oil is widely utilized in Mediterranean cuisine. Italy and Spain, which produce a lot of olive fruit oil, are the main contributors to this region. Global olive oil output reached 2.87 million tonnes during crop decades 2005–2006 and 2021–2022, as per figures from the International Olive Council (IOC), with 72 percent of it generated in the European Union (EU).

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.