Global Olive Oil Market to Surpass 3,299.9 KT by 2027 – Coherent Market Insights
SEATTLE--(BUSINESS WIRE)--Nov 26, 2019--
The global olive oil market was valued at 3,026.6 KT in 2018 and is projected to exhibit a CAGR of 1% over the forecast period (2019–2027).
Key Trends and Analysis of the OLIVE OIL Market:
The demand for virgin olive oil is expected to increase over the forecast period, owing to the deployment of processing techniques, which do not include any kind of chemicals and possess high nutritional content. In 2013, a survey was conducted by UC Davis Olive Center – ‘Customer Attitudes on Olive Oil’, which concluded that around 86% of the olive oil customers purchased extra virgin olive oil amongst all the types of olive oil.
The global olive oil market is also expected to create opportunities for manufacturers in the market with the development of novel packaging methods for olive oil. For instance, according to the report ‘Packaging influences on olive oil quality’, published by UC Davis Olive Center in 2014, extra virgin oil is the purest form of olive oil and its freshness and the quality of flavor diminishes over the course of time. The use of enhanced packaging materials such as stainless steel, dark glass, and bag-in-box helps in maintaining shelf life of the product. Thus, development of innovative packaging materials and techniques help in retaining the quality of oil and also attracts the customers thereby, driving growth of the market.
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Key players in the market are focused on adopting various business strategies such as mergers and acquisitions for enhancing their footprint within the market. For instance, in February 2014, Cargill Inc. entered into an agreement with Dalmia Continental Private Limited for acquiring its Leonardo Oil business. Leonardo is a major olive oil brand with major presence in countries such as India. Therefore, this acquisition would enable Cargill Inc. to enhance its footprint in India.
Key Market Takeaways:
Some of the major players operating in the global olive oil market include-
Cargill, Inc., SOVENA, DEOLEO, COLAVITA S.p.a., Olivezia, Stone Axe Estate, PORTTABLE Produtos Alimentares, Lda., Castello di Albola, Planeta, Empresa Esporão S.A., and Domaine De Marquiliani (Kermit Lynch Wine Merchant).
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PUB: 11/26/2019 11:31 AM/DISC: 11/26/2019 11:31 AM