Published on : Apr 05, 2016
Olive oil refers to fat that is obtained from olives. It is an edible food product and is widely used across the globe, owing to its nutritional value, taste, and packaging. This oil is produced by pressing olives at a specific temperature and is commonly used in pharmaceuticals, cooking, soaps, and cosmetics. The increasing popularity of olive oil is estimated to boost the sales figures worldwide in the next few years.
At present, the production of olive oil is limited to some particular countries that are located in the Mediterranean belt. Among these countries, Spain is considered as the largest producer and exporter of olive oil in the overall market, which is followed by the U.S. and Italy. China and India are among the largest consumers of olive oil around the world. Some of the major types of olive oil that are available in the global market are:
Among all these types, the extra virgin olive oil is considered as one of the best quality oils that are available in the global market. The virgin olive oil bears less than 1% acidity level and is very rich in terms of antioxidants. The global market for olive oil is estimated to grow substantially owing to the application of olive oil in diverse industries such as cosmetics industry, beauty industry, food industry, and pharmaceutical industry across the globe. The expansion of these industries is expected to fuel the growth of olive oil market indirectly. However, the costing of olive oil keeps on fluctuating when the cultivation is impacted as the production is to specific countries. This factor is estimated to hamper the growth of the market in the coming years.
The increasing demand for olive oil in developing countries have attracted several players to expand their horizon and create a niche in this market. Some of the leading players operating in the global market for olive oil are Deoleo, Borges, Ybarra, Pompeian, Sovena Group, and Salov. In the next few years, many other companies are estimated to participate and attract more consumer base.