According to a new report, published by KBV research, The Global Olive Oil Market size is expected to reach $26.5 billion by 2030, rising at a market growth of 4.9% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,152.7 Kilo Tonnes experiencing a growth of 5.3% (2019-2022).
Blockchain technology is being employed to ensure traceability and authenticity in the olive oil supply chain. By recording each step of the production process on a secure and transparent blockchain ledger, producers can provide consumers with verifiable information about the origin and journey of their olive oil, addressing concerns related to fraud and mislabeling. As climate change poses challenges to traditional olive cultivation regions, cultivar development has gained prominence.
The Virgin segment is registering a CAGR of 4.5 % during the forecast period. Virgin olive oil, while not as premium as extra virgin, still maintains a good flavor profile. It is suitable for various culinary applications, including sautéing, grilling, and salad dressings. Some consumers are increasingly interested in sustainable and locally sourced products. Virgin olive oil, produced with a focus on sustainability, may appeal to this environmentally conscious segment of the market. Hence, these factors will drive the expansion of the segment.
The Food and Beverage segment led the Global Olive Oil Market by Application in 2022; thereby, achieving a market value of $10.3 Billion by 2030. Olive oil is utilized extensively in the culinary arts for grilling, roasting, sautéing, and seasoning salads. Its distinct flavors, ranging from mild to robust, make it a popular choice in various cuisines. The food industry incorporates olive oil in various dishes, including restaurants, catering services, and food manufacturers. Thus, these factors will pose lucrative growth prospects for the segment.
The Hypermarkets/Supermarkets segment is growing at a CAGR of 4.5 % during the forecast period. Hypermarkets and supermarkets are major players in the distribution of olive oil, offering a wide range of brands and varieties to consumers. They typically have dedicated sections for edible oils, including olive oil, providing consumers with a diverse selection. Olive oil brands available at these retail establishments include renowned international brands and local and artisanal alternatives. Thus, the segment will expand rapidly in the coming years.
Full Report: https://www.kbvresearch.com/olive-oil-market/
The Europe region dominated the Global Olive Oil Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $13.4 Billion by 2030. The North America region is anticipated to grow at a CAGR of 4.7% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 6% during (2023 - 2030).
By Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Distribution Channel (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
Unique Offerings 
