Global Olive Market Report and Forecast 2024-2032

Global Olive Market Outlook

The global olive market size reached a volume of approximately 3.63 MMT in 2023. The market is projected to grow at a CAGR of 4.30% between 2024 and 2032 to attain a value of around 5.31 MMT by 2032.

Olives refer to small fruits that grow on olive trees. They are rich in vitamins, fibres, iron, calcium, copper, and monounsaturated fatty acids, among others. Olives are known to improve bone health, promote heart health, and prevent the onset of cancers. Certain compounds in olives, like oleocanthal, possess anti-inflammatory properties.

Olives are a staple in Mediterranean cuisine, enjoyed on their own (often as a part of antipasti), in salads, pizzas, and many other dishes. One of the most important uses of olives is in the production of olive oil, a key ingredient in cooking, especially in Mediterranean diets.

Olives are a source of monounsaturated fats, particularly oleic acid, which is known for its health benefits. They contain various vitamins and minerals, including vitamin E, iron, copper, and calcium. Olives are rich in antioxidants, which can help reduce oxidative stress and inflammation in the body.

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Key Trends in the Market

Heightened health consciousness, growing use in the food service and processing sectors, and the rise of online sales channels.

Some of the key olive market trends include the surging health consciousness, the rising demand for the product in the food service and food processing sectors, and the increasing sales of olives from online channels.

There is a growing awareness of the health benefits associated with olives and olive oil, such as heart health, anti-inflammatory properties, and antioxidant content. As consumers increasingly seek healthier food options, olives are becoming a popular choice due to their nutrient profile, which includes healthy fats and essential vitamins.

Olives are versatile ingredients used in a variety of culinary applications, from appetisers and salads to main dishes. Their unique flavour enhances many recipes. The rise of online shopping has further made olives more accessible to consumers worldwide. Speciality food items, including various types of olives not commonly found in local stores, are now just a click away.

The burgeoning popularity of olive oil in the food sector

One of the major drivers of the olive market growth is the growing interest in the consumption of olive oil amid the rising awareness regarding its health benefits. This is enhancing the appeal of dishes using olive oil, and the development of flavoured olive oils infused with aromatic ingredients.

Olive oil, especially extra-virgin olive oil, is rich in monounsaturated fats, antioxidants, and anti-inflammatory compounds, which have been linked to various health benefits, including heart health, cholesterol level management, and potentially reduced risk of certain chronic diseases.

The introduction of flavoured olive oils is part of a broader trend in culinary innovation. By infusing olive oil with herbs, spices, citrus, and other flavours, producers are expanding its use in cooking. Flavoured olive oils often fall into the gourmet product category. They are increasingly sought after by food enthusiasts, chefs, and home cooks looking for high-quality, artisanal ingredients.

Surge in popularity of Mediterranean dishes, including Spanish, French, and Italian cuisines

The popularity of Mediterranean dishes, including Spanish, French, and Italian cuisines has soared globally, and they are known to offer various health benefits and reduce the risk of diseases like diabetes and neurogenerative issues. Moreover, various European countries are promoting Mediterranean foods, which is likely to drive the usage of olives in the coming years.

Olives and olive oil are staple ingredients in Mediterranean cuisine. As the global appetite for authentic Mediterranean dishes grows, so does the demand for olives, both for cooking and as table olives. Olives are versatile and used in a variety of Mediterranean dishes - from Italian pasta and pizzas to Spanish tapas and French salads. This versatility has played a major role in boosting their popularity.

The globalisation of food culture, facilitated by travel, media, and the internet, has introduced a broader audience to Mediterranean cuisines. As people become more adventurous with their eating habits, they seek out authentic ingredients like olives.

Environmental consciousness and sustainable agriculture

With the rising environmental consciousness and the introduction of favourable government initiatives aimed at making food healthier and more environmentally friendly, the demand for sustainably sourced olives is expected to grow.

The demand for organic olives and olive oil, produced without the use of synthetic pesticides or fertilisers, is growing as part of the broader organic food movement. Olives are typically grown in Mediterranean climates, which are suited to their cultivation without the need for excessive water or other resources, making their carbon footprint relatively low compared to more resource-intensive crops.

Many governments actively promote healthier eating habits through campaigns and educational programs, often highlighting the benefits of diets rich in plant-based foods and healthy fats, like those found in olives. In some regions, governments provide subsidies and support for sustainable olive farming, which can increase the production and availability of olives.

Global Olive Market Segmentation

Based on product, the market is segmented into raw olive, preserved, and olive oil, among others. On the basis of type, the market can be bifurcated into green and black olives. By end use, the market is classified into food and beverage, pharmaceutical, and cosmetics and personal care, among others. The major regional markets of olive are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global olive market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• DEOLEO S.A

• Sovena Group

• Conagra Brands, Inc.

• Del Monte Foods, Inc

• AGROSEVILLA    

• California Olive Ranch, Inc.

• Oleificio Zucchi S.P.A.

• Pompeian, Inc

• Bell-Carter Foods, LLC 

• Salov S.p.A.

• Others

Global Olive Market Analysis

Increasing applications of olive oil in various industries including food and beverages and cosmetics

There is a surge in the consumption of olive oil due to its versatile use in sectors ranging from food and beverage and cosmetics and personal care to pharmaceuticals, thereby contributing to the overall olive market demand. Olive oil offers a plethora of health benefits, and it is known to reduce the risk of depression, cardiovascular issues, cancer, Alzheimer's disease, and inflammatory bowel disease (IBD), among others, which has enhanced its appeal among consumers.

Manufacturers are offering olive oil in lightweight, transportable, and sustainable packaging and on online retail channels to enhance the customer accessibility of high-quality products. Meanwhile, preserved olives are canned or bottled in water or brine solution, and they are typically used in the food service and household sectors.

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Europe holds the dominant share, owing to the rising health awareness

Europe holds a significant portion of the olive market share, due to the high awareness regarding the health benefits of olive oil and other olive-based products in the region. In the food processing and food service sectors, olives are regarded as one of the most used ingredients in Mediterranean dishes (including Italian and Spanish food) and fast food.

Innovations like snack olives with diverse flavours, the development of self-service olive bars, the favourable government measures aimed at driving the production of high-quality olives with added benefits, and the increasing focus on enhancing the use of sustainably sourced olives are anticipated to benefit the market in Europe in the coming years.

Known for its health benefits, the Mediterranean diet, which emphasises the consumption of olive oil, fruits, vegetables, and lean proteins, is widely promoted and followed in Europe. The diet’s association with reduced risks of heart disease and other chronic conditions boosts olive consumption.

North America and the Asia Pacific to witness significant growth, due to the growing popularity of Mediterranean dishes.

Meanwhile, North America and the Asia Pacific are anticipated to witness healthy growth in upcoming years owing to the growing demand for olives in food products, the rising popularity of French, Spanish, and Italian dishes, and the increasing trend of healthy snacking.

Increased marketing efforts by olive-producing countries and brands to penetrate the Asia-Pacific market have raised awareness and availability of these products. The diverse cultural landscape, including significant Mediterranean and Hispanic populations in the North American region, contributes to the demand for traditional foods and ingredients like olives.

Competitive Landscape

DEOLEO S.A is a major olive oil manufacturer, headquartered in Spain. It sources its products from Greece, Spain, Peru, Portugal, Italy, and Argentina. It creates blends that provide the same sensory experience as single-source olive oils. The company aims to enhance the sustainability of olive oil production and supply and deliver premium quality products to customers across the globe.

Conagra Brands, Inc. is a Chicago-based food corporation that offers packaged food products to customers. Some of its most iconic brands include Duncan Hines®, Reddi-wip®, and Birds Eye®, among others. The company aims to meet the evolving demand for food service and retail sectors by introducing value-added products.

Del Monte Foods, Inc is an integrated food solutions company that offers high-quality products to customers. The company aims to provide high-quality vegetables and fruits to support the health of customers. Its expansive portfolio is intended to make the consumption of better-for-you ingredients and food and beverage products easier and more accessible.

Other major players in the olive market include Sovena Group, AGROSEVILLA, California Olive Ranch, Inc., Oleificio Zucchi S.P.A., Pompeian, Inc, Bell-Carter Foods, LLC, and Salov S.p.A., among others.

Key Highlights of the Report

Olive Market Report Snapshots

Olive Market Size

Olive Market Analysis

Olive Companies