Extra Virgin Olive Oil Market Overview
The Extra Virgin Olive Oil Market revenue was valued at USD 10.08 billion in 2023 which is anticipated to reach the valuation of USD 14.41 billion with the CAGR rate of 5.30% by the year 2030.
Europe is the largest producer and consumer of extra virgin olive oil market (EVOO) globally, with countries such as Spain, Italy, and Greece being major producers. The European EVOO market is characterized by a high level of consumption, driven by factors such as the region's strong culinary tradition, the popularity of the Mediterranean diet, and the perceived health benefits of olive oil.
Increasing demand for extra virgin olive oil in various end-use industries has propelled the market growth in past years. Also, the rising awareness of olive oil health benefits and changing health trends will boost the global extra virgin olive oil market growth in future years.
During covid-19 the Global Extra Virgin Olive Oil Market has witnessed some drawbacks in supply chain and production sections. But on the other hand, due to the rise in health awareness during the pandemic, the market grew during and after covid times.
Key Companies in the Extra Virgin Olive Oil market include.
Agro Sevilla Group
TheStar Fine Foods - Borges USA
Miguel Gallego SA
DEOLEO
Nutrinveste SGPS, SA.
Carapelli Firenze S.p.A, among others
Market Segmentation
The Global Extra Virgin Olive Oil Market is segmented into product type, end-use or application and region.
Based on the product type, the market is segmented into Virgin Olive Oil, Extra Virgin Olive Oil, Pomace Olive Oil and others. Currently the Extra Virgin Olive Oil holds the largest Global Extra Virgin Olive Oil Market size.
Based on the end-use or application, the market is segmented into foods and beverages, Pharmaceuticals, cosmetics and others. In this segment the food and beverage part dominates the market and it is also predicted to continue its dominance during the forecast period.
Industry News
Some of the key players in the Global Extra Virgin Olive Oil Market are Colavita S.p.A, Filippo Berio P.Iva, California Olive Ranch, Gallo, Borges International Group, S.L., MINERVA S.A. etc. These key companies are focusing on product launch, innovation, collaboration and merge opportunities etc to strengthen their grip over the market and stand out from other competitors.
- IBM has announced its collaboration with Rolar de Cuyo and Conde de Benalua in November 2020. This collaboration was made to track the lifespan of olive oil products and meet the market needs.
- In 2018, Arvil Group announced their acquisition of the Costa D'Oro's majority market share.
- The largest olive oil manufacturer Deoleo has announced their launch of new Olive Oil brand Carbonell in July 2019. This product launch was intended to strengthen their grip over the Chinese olive oil market.
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