Olive oil is extracted by crushing olive leaves to a certain extent. Olive is one of the leading products with leaping market value in the global cosmetic and pharmaceutical market. The presence of monosaturated fatty acids, hexadecenoic acid, and linolic acid has increased the profile of olive oil in the global market. Olive oil is now effectively used in leading baby products including massage oils, moisturizers, and shampoo. Enzymes and Essential fatty acids present in olive oil are known for the prevention and cure of certain heart diseases. Less cholesterol level present in olive makes it a suitable substitute for certain edible oils like sunflower oil, coconut oil, etc. The application of vegetable oil is growing in the food and beverage industry; it increases the demand for edible vegetable oils in the market. The nutritional value and medicinal properties shown by olive oil make it prominent and in high demand in the global market.
The outbreak of the Covid-19 pandemic has negatively affected the global olive oil market. The isolations and lockdowns made by the US government have declined the production and consumption rate of olive oil to a certain extent in the US. Lockdowns resulted in the closing of restaurants and made a steep fall in the olive oil market in the US. Commercial road transport in the US was about 20% lower than the normal rate during the time of the pandemic according to a report by the US (DOT) department of transportation. Less movement of commercial commodities brought a decline in the food market in the US, lowering the market value of olive oil.
The rising market for cosmetics
The rising market for cosmetics has hiked the market value of olive oil in the global market. The high content and presence of oleic acid make olive oil a major compound in soap production. Oleic acid is a component that helps to moisturize and condition the skin. According to a US government survey the export and import of cosmetic products in the US are growing at a rate of 4.7% globally, making the US a major market for the cosmetic industry. BERTOLLI is a leading olive oil brand, which composes a major market share in US edible oil market. The newly announced product launch of BERTOLLI baby massage oil is a market booster for the demand for olive oil in baby products. The major US brands of olive oil such as GENERICS and FELIPO BERIO are also the key players in olive oil cosmetic products. The sulfate-free olive oil shampoo of generic is a new leading hair care product in the global olive oil market, accounting for the market growth of olive oil. Aligning with the growth of the cosmetic market the market value of olive oil is also taking more heights in the US market.
Olive oil in cooking
The US is a global market for food and food products. Olive oil is now a leading spice or oil used in the cooking and food market. The less cholesterol content offered by olive oil and the presence of monosaturated fatty acids which are good for health is rising the market of olive as a spice or food product. Highly saturated virgin olive oil is one of the demanded products of the market, used for preparing healthy cuisines with 0 trans-fat. Extra virgin olive oil of BORGES, FIGARO and DEL MONTE is now mostly holding olive oil spice and food market. The taste and good aroma offered with health benefits are giving olive oil a vital role in dietary supplements and food products.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Growth Rate | CAGR of 4.55% during the forecast period |
| Base year | 2020 |
| Forecast period | 2022–2027 |
| Forecast Unit (Value) | USD Billion |
| Segments covered | Product Type, Production, Distribution Channel, And End-Use Industry |
| Companies covered | BERTOLLI, STAR, BOTTICELLI, Conagra Brands, Colavita S.p.A, Filippo Berio P.Iva, California Olive Ranch, Borges International Group, MINERVA S.A., Sovena Group |
| Customization scope | Free report customization with purchase |
Segmentation