Olive Oil Market by Region – Global Opportunities & Forecast, 2020-2027

 Global Olive Oil Market

The global Olive Oil Market is foreseen to witness a growth rate of 6.05% over the forecast period. This is because the augmentation in the health-conscious consumers has raised the consumption of nutritious foods and the acceleration in per capita income of the individuals.

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Olive Oil Market Dynamics

The growing emphasis of consumers towards maintaining their general health and wellness is the leading force complementing the growth of the global olive oil market. People have now shifted towards nutritious oil alternatives such as wholesome vegetable oil in their daily eating habits. The altering lifestyle of the consumers and the increasing incidences of obesity and cardiovascular diseases has further stimulated the market growth. Also, the consumers are increasingly focussing on examining label claims before selecting the right oil product. Moreover, the market is experiencing a surge in demand for vegetable oils with high content of MUFA, vitamin E, and omega-3. Thus, olive oil helps in supporting the functioning of the heart. The increasing consciousness about the significance of vital fatty acids will supplement the demand for oil.

Besides this, the increasing drift towards raw, cold-pressed, and organic oils because of their better nutritional value and chemical-free property is the crucial force raising the market growth. Consumers have shifted towards extra-virgin and virgin olive oil as it prevents diabetes, supports weight loss, and enhances skin and health. The unblemished organoleptic properties and distilled flavour of the cold-formed virgin oil have captivated consumers towards the market.

However, as per the olive oil Market research, the inflated cost of olive oil has encouraged consumers towards cost-efficient replacement oils, such as canola, coconut, and sunflower oil. This is another force projected to restrain the market growth.

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