Dublin, Nov. 02, 2021 (GLOBE NEWSWIRE) -- The "Europe Olive Oil Market Forecast 2021-2027, Industry Trends, Share, Insight, Growth, Impact of COVID-19, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
Europe Olive Oil Market will be US$ 7.35 Billion by 2027 from US$ 3.86 Billion in 2020, growing at aCAGR of 9.64% during 2020-2027
Further, the olive oil industry is experiencing robust growth in Europe primarily due to the increasing demand for olive oil across the food service and retail channels.
Maintaining overall fitness and wellness by shifting to healthier oil alternatives mainly drove the market's growth. One of the major factors supporting the development of the olive oil market is the expanding interest in natural, cold-pressed and raw oils attributed to their safer and healthier counterparts.
Spain is the leading Producer, Exporter and Consumer of Olive Oil
Spain accounts for almost half of global olive oil production; other significant producers are Italy, Greece and Portugal. This is due to olive farming, one of the primary businesses in these countries due to the Mediterranean diet. Greece, Spain, Italy and Portugal are the primary producers and exporters in the region. Italy leads the industry in terms of imports and majorly imports olives from United States, China, Brazil, Japan and Turkey.
Virgin Olive Oils are anticipated for strong Performance in Forecast Period
Virgin olive oils were the largest consumed oil in 2019, owing to their increasing popularity among customers attributed to the growing awareness regarding their health advantages in Europe. Omega-3 and oleic acid in virgin oil help prevent lifestyle-related disorders such as obesity and cardiovascular diseases.
The extra virgin oil is projected to exhibit substantial growth in Europe due to its rising utilization in Pharmaceuticals, the cosmetics industry and cooking. Besides, European households use extra virgin oil for cooking; it is widely used in personal care products like skincare for various purposes such as massages, sports injuries, and to reduce muscle fatigue, among others.
Growing Use of Olive Oil in European Retail and Foodservice Sector Propels Market Growth
Besides, the growing awareness regarding the role of olive oil in keeping good health has remarkably raised the demand for various types of olive oil in European retail channels. On the other side, retail has remained one of the most dynamically developing realms that enable olive oil market players to regularly be on their toes to discern their target customers and maintain a customized approach
In addition, the foodservice sector in Europe used olive oil for salad dressing and preparing cold foods. Olive oil is widely utilized for the manufacturing of various food products, essentially healthy snacks. The growing demand for healthy snacks among users has necessitated manufacturers to incorporate nutrient-rich ingredients such as olive fruit oil to improve the value of the final product
Impact of COVID-19 Pandemic on Europe Olive Oil Industry
The demand and sale of olive oil have observed a sudden slump because of the outbreak of the COVID-19 pandemic. Nationwide lockdown in several countries has resulted in the disruption of trade activities, which has slowed the growth of this industry. However, now with the improved situation the market of Europe Olive Oil is expected to revive in years to come
Key Players in the European Olive Oil Industry
Some of the market's key players include Deoleo, S.A, Del Monte Foods, Unilever Group, Semapa, Bunge Limited, which continuously research. Players in the Olive Oil Market adopt many essential strategies.
For instance, in 2020, Deoleo, the world's leading olive oil producer with brands such as Bertolli extra virgin olive oil, leads in biodiversity.
Del Monte Foods
Europe Olive Oil Volume Analysis
Country - Olive Oil Production Volume
Type - Global Olive Oil Market breakup from 3 viewpoints
Extra Virgin Oil
Other (Lampante, Pomace, etc)
Industry - Global Olive Oil Market breakup from 4 viewpoints
End-User - Global Olive Oil Market breakup from 3 viewpoints
All key players have been covered from 3 viewpoints
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