United States Olive Oil Market Size Analysis Report - Market Share, Forecast Trends and Outlook (2024-2032)

United States Olive Oil Market Growth

Olive oil's versatility spans various uses. In cooking, it enhances flavour and is ideal for sautéing, frying, and roasting. It is essential in salad dressings and marinades and can substitute butter in baking for extra moisture. It also makes an excellent dipping sauce for bread which is growing its popularity, eventually boosting the United States olive oil demand growth.

In the personal care sector, olive oil is valued for its moisturising and antioxidant properties for skin and hair. It offers a healthier alternative to other cooking oils, supporting heart health and digestion. Additionally, the United States olive oil market dynamics and trends are also drive by its growing popularity in household use. It is used in home remedies for soothing ear infections and treating minor skin issues.

United States Olive Oil Market Analysis

The United States has established itself as a prominent region of olive oil imports as a significant percentage of olive oil is imported from the Mediterranean regions in the country, further fuelling the market expansion. As per the International Olive Oil Council, the total import of virgin olive oil in the 2020-21 crop year was 379 539 tonnes.

Key suppliers of olive oil to the United States include Spain, Italy, Tunisia, and Portugal. In the first quarter of 2023, the U.S. imported approximately 166,859 tons of virgin and extra virgin olive oil, solidifying its position as a major importer and contributing to the growth of the United States olive oil industry.

United States Olive Oil Industry Outlook

U.S. e-commerce sales as a percentage of total retail sales began at roughly 10% in 2016. This percentage has shown a consistent increase, reaching around 20% by 2022. This growth trend is anticipated to continue, with e-commerce expected to account for nearly 25% of total retail sales by 2027. This shift is likely to boost the United States olive oil market revenue, as online platforms offer a convenient means for consumers to access a diverse range of olive oils, including premium and speciality brands that may not be found in local stores.

According to the U.S. Census Bureau, U.S. retail sales in the first quarter of 2023 totalled USD 1,792,376 million, with e-commerce contributing USD 266,314 million, representing 14.9% of total sales. This share increased consistently over the year, reaching USD 272,821 million (15.3%) in the second quarter, USD 279,739 million (15.4%) in the third quarter, and USD 283,293 million (15.6%) in the fourth quarter of 2023. Preliminary estimates for the first quarter of 2024 indicate total retail sales of USD 1,820,022 million, with e-commerce sales at USD 289,204 million, or 15.9% of total sales. Not-adjusted figures for the first quarter of 2024 showed total retail sales at USD 1,718,447 million and e-commerce at USD 268,118 million, making up 15.6% of total sales. In the fourth quarter of 2023, the non-adjusted e-commerce share peaked at 17.1%, contributing to the growth of the United States olive oil industry revenue as this surge is driven by the ease of comparing prices, reading reviews, and accessing detailed product information, which boosts consumer confidence and influences purchasing decisions.

According to the USDA Economic Research Service, U.S. olive oil production remained steady at 16,000 tons between 2018/2019 and 2019/2020. During the same period, imports, a key factor in the U.S. olive oil market, rose from 355,000 tons to 390,000 tons. Consequently, the total supply, which includes both domestic production and imports, increased from 371,000 tons to 406,000 tons. Consumption also saw significant growth, going from 364,000 tons to 400,000 tons. Distribution followed suit, growing from 371,000 tons in 2018/2019 to 406,000 tons in 2019/2020.

The U.S. imports high-quality olive oil from renowned producers like Spain and Italy, meeting growing consumer demand for premium products.

• Increasing consumer awareness of olive oil's health benefits boosts its popularity, driving the United States olive oil market growth.
• Olive oil's versatility in cooking, personal care, and home remedies support its broad market appeal.

High-quality olive oil can be expensive, potentially limiting its accessibility to price-sensitive consumers.

• Heavy reliance on imports from specific countries may lead to supply chain vulnerabilities.
• The presence of cheaper alternatives and blends may affect the United States olive oil market share of pure olive oil.

Growing health consciousness presents opportunities for expanding olive oil’s use in dietary supplements and wellness products.

• Opportunities exist in developing new olive oil-based products and enhancing existing offerings with unique flavours or blends.
• Increased consumer preference for sustainable and organic products can drive growth in eco-friendly and certified olive oil segments.

Economic downturns could reduce consumer spending on premium olive oil products.

• Adverse weather conditions and climate change may impact olive oil production, affecting supply and prices.
• Changes in import regulations and standards could affect the availability and cost of imported olive oil.

Key Players in the United States Olive Oil Market and Their Key Initiatives

Deoleo, S.A.

• Launched sustainably sourced Bertolli and Carapelli olive oil brands to meet the growing demand of the United States olive oil market. 
• Promoted sustainable practices by developing "islands of biodiversity". 

Sovena Group

• Launched the "Feeding Futures" sustainability campaign. 
• Opened a second logistics centre and packaging plant in California. 

Borges Agricultural & Industrial Edible Oils, S.A.

• Achieved the Zero Waste Management certification.
• Implemented the LIFE CYCLOPS project to recover polyphenols from olive oil waste. 

Minerva Ltd.

• Introduced Minerva Blend EVOO, grown and milled in Sonoma County, California. 
• Launched single-variety Koroneiki Extra Virgin Olive Oil.

United States Olive Oil Industry Segmentation

“United States Olive Oil Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Virgin
• Refined

Market Breakup by Application

• Food and Beverage
• Personal Care and Cosmetics
• Pharmaceuticals
• Others

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• Online
• Others

Market Breakup by Region

• New England
• Mideast
• Great Lakes
• Plains
• Southeast
• Southwest
• Rocky Mountain
• Far West

United States Olive Oil Market Share

The demand for the olive oil market provides notable advantages across both the food and beverage and personal care and cosmetics industries. In food and beverage, it enhances flavour, promotes heart health with its monounsaturated fats and antioxidants, and offers versatility in cooking. Rising consumer interest in health-conscious and natural products fuels this demand.

In personal care and cosmetics, olive oil's deep moisturising and antioxidant properties benefit skin and hair care, offering anti-ageing effects and being suitable for sensitive skin. Its natural and organic appeal further boosts its popularity, contributing to the growth of the olive oil industry.

Leading Companies in the United States Olive Oil Market

The market players are increasing their offerings of authentic and virgin olive oil to gain a competitive edge in the market.

• Deoleo, S.A.
• Sovena Group
• Borges Agricultural & Industrial Edible Oils, S.A.
• Minerva Ltd.
• Unilever Plc
• Del Monte Foods, Inc.
• Cargill, Incorporated
• California Olive Ranch, Inc.
• Pompeian, Inc.
• GRUPPO SALOV