Market Overview

Extra virgin olive oil is a liquid fat extracted from olives, a traditional tree crop of the Mediterranean Basin; the oil is produced by pressing whole olives. Extra virgin olive oil is made by crushing olives and extracting the juice, made without the use of chemicals and industrial refining. It is the juice of fresh, healthy olives which contains, more than any other grade, the health-promoting nutrients that olive oil is famous for. The extra virgin olive oil is the highest quality olive oil, consumed mostly by health conscious people as this oil carries less than 1% acidity thus, increasing its demand worldwide. It is the main source of dietary fat in the Mediterranean diet which is increasing the growth of the global extra virgin olive oil market.

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Segments

The global extra virgin olive oil market is segmented on the basis of processing type, such as cold pressed, flavored, virgin, blended, and others. Virgin segment from this market is increasing the demand of the extra virgin olive oils.

On the basis of application, the market is segmented into cooking, cosmetics, pharmaceutical, fuel. Increasing demand for food products is helping to drive the growth of this market.
On the basis of distribution channel, the market is segmented into store based such as supermarkets & hypermarkets, specialty stores, food processing industries, and others, and non-store based.
Downstream Market Analysis

Western lifestyle adopted by various countries is the major driving factors of this market. Furthermore, the popularity of extra virgin olive oil and involvement of nutritional attributes are also encouraging the growth of this market. Rising demand for natural products is expected to play a significant role in this market’s growth during the forecast period. Additionally, the augmentation of the product development together with research advancements are other significant reasons for the increasing growth of the global extra virgin olive oil market from 2017-2023.

Competitive analysis

Some of the key players in the global extra virgin olive oil market are

Agro Sevilla Group (Spain)
SALOV NORTH AMERICA CORP (U.S.)
Star Fine Foods - Borges USA (U.S.)
Grupo Ybarra Alimentación (Spain)
DEOLEO (Spain)
SOVENA (Portugal)


Carapelli Firenze S.p.A (Italy)
The demand for extra virgin olive oil has pushed manufacturers to innovate and develop new product lines, which are better in taste and offers various health benefits.

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Regional Analysis

The global extra virgin olive oil market is segmented on the basis of region into North America, Europe, Asia Pacific, and rest of the world (RoW). Among these, Europe is estimated to retain its dominance, followed by North America, over the forecast period of 2017-2023. This is attributed to the increasing awareness about health benefits derived from extra virgin olive oil, as well as increasing area of cultivation. Also, due to its vast usage in food and beverages, pharmaceuticals & personal care products, fuel and others is rising the demand of extra virgin olive oil. Spain is the largest producer of olive oil, followed by Italy. The new product development by key manufacturers of extra virgin olive oil is projected to be one of the significant reasons for the rising growth of extra virgin olive oil products in the North America. However, Asia Pacific region is estimated to witness a maximum growth in the global extra virgin olive oil market over the forecast period of 2017-2023.

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