Global Olive Oil Market Research: American heart association states that the U.Switnessed around 836,546 deaths due to cardiovascular diseases in 2018. Most of these deaths occurred owing to the improper functioning of blood cells. Olive oil is the prominent solution, to protect the blood cells from being damaged, as it is a great source of monounsaturated fatty acids such as oleic acid, linoleic acid, and palmitoleic acid. Additionally, olive oil act as a nutrient and also it is widely used in the Mediterranean diet, to improve one’s lipid profile and cardiovascular morbidity by lowering the triglycerides in the blood.
The global olive oil market is experiencing remarkable growth due to the burgeoning demand for cosmetics in emerging economies. It is used as a key ingredient in a variety of soaps, moisturizers, shampoos, and lotions, to hydrate and moisturize the skin. Olive oil is a good source of antioxidants, which helps to protect the skin from premature skin aging. It also plays a noticeable role in treating various skin diseases such as acne, psoriasis and seborrheic eczema.
According to a recent business intelligence report from IndustryARC, the global olive oil market size was around $8.0 billion to $8.4 billion in 2018 and is estimated to grow with a healthy CAGR of 2.5% to 3.5% during the forecast period 2019-2025. Europe held a dominating share in the market, which was accounted for around 35% to 38% in 2018. Foodservice as the key application held a maximum share in the global olive oil market and is projected to grow with a healthy CAGR of around 2% to 3% over the forecast period 2019-2025. Rising demand for olive oil in food and beverages, especially in salad dressing and deep frying food services is supporting the market. This information is taken from the IndustryARC report titled “Olive Oil Market: By Type (Virgin Olive Oils, Refined Olive Oil, Olive Oil); By Pack Type (Tins, Bottles); By Category (Organic, Non-Organic); By Application & By Geography – Forecast(2019-2025).”
Global Olive Oil Market Companies: Recent Developments
- In 2018, Deoleo announced an agreement with Greek cooperative Gargalianoi to launch a new packaging feature for its Bertolli olive oil, to boost the product demand globally. This acquisition will complement Deoleo’s R&D strategy, which is focused to enhance the credentials of the brand and also to increase the production efficiency. Thus, this acquisition proliferating the growth of the olive oil market in the near future.
- Lamasia is a leading supplier and producer of extra virgin oil. This oil is used in the production of cream soups, sauces, vinaigrettes, and dressed salads, too meet the huge demand from the food and beverage industry.
- Some of the key companies identified in the report that are currently holding majority shares in the global olive oil market are Lamasia, Sovena Group, Gallo, Grup Pons, Maeva Group, Ybarra, Jaencoop, Deoleo, Carbonell, Hojiblanca, and Mueloliva.
The global olive oil market is observing significant growth due to its applications in pharmaceuticals, cosmetics, and food and beverages industry. It is a major ingredient in the Mediterranean diet, which helps to reduce cardiovascular diseases. Under these favorable scenarios, the global olive oil market is anticipated to witness a noteworthy growth in the near future.
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