Extra Virgin Olive Oil Market Size, Share, Growth, and Industry Analysis, By Type (Cold Pressed Extra Virgin Olive Oil, Organic Extra Virgin Olive Oil), By Application (Culinary Use, Cosmetic and Personal Care, & Pharmaceuticals) and Regional Forecast to 2033

EXTRA VIRGIN OLIVE OIL MARKET OVERVIEW

The global Extra Virgin Olive Oil Market size was USD 1600.8 million in 2024 and is projected to touch USD 1855.25 million by 2033, exhibiting a CAGR of 5.04% during the forecast period.

The Extra Virgin Olive Oil market is slowly coming on stream, due mainly to growing consumer awareness related to health benefits, wealth of antioxidants, and fat-friendly hearts. EVOO mainly originates from Mediterranean countries, with its unique flavour profile and versatility in usage. The demand for these products is increasing across every region, especially North American and Asia-Pacific, mainly because consumers are opting to replace cooking oils with those that are healthier.

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GLOBAL CRISES IMPACTING Extra Virgin Olive Oil Market - COVID-19 IMPACT

"Extra Virgin Olive Oil Market Had a Negative Effect Due To Supply Chain Disruption During COVID-19 Pandemic"

The Global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic had exposed the Extra Virgin Olive Oil (EVOO) market to risk due to the global chain of disruption in the supply chain that had affected the production, distribution, and international trade. Lockdowns left a lack of labor force in regions cultivating olives, and therefore, the harvest and bottling processes were compromised. Restaurant closures and reduced hospitality operations, which are large consumers of EVOO, left demand low. Consumer behavior was altered, and consumers bought only the most essential items.

LATEST TREND

"Growing Demand For Organic And Sustainably Produced Options Capabilities To Drive Market Growth"

Notably, among the trends of Extra Virgin Olive Oil, organic and sustainably produced variants gain most interest. The more a person becomes health conscious and environmentally aware, he gets attracted to organic EVOO free of synthetic pesticides and chemicals and made by an eco-friendly farming technique. Branding will rely on certifications and labeling to give the consumer an assurance of quality and the environment impact of the products. This is more prevalent in North America and Europe, where consumers are willing to pay more for sustainably sourced products. Innovative packaging, such as eco-friendly and reusable containers, also supports this trend.

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EXTRA VIRGIN OLIVE OIL MARKET SEGMENTATION

By Type

Based on Type, the global market can be categorized into Cold Pressed Extra Virgin Olive Oil, Organic Extra Virgin Olive Oil

• Cold-Pressed Extra Virgin Olive Oil: It is processed by mechanically pushing olives without the heat, keeping its natural antioxidant, flavor, and health benefits alive. Cold-preserved EVOO in high quality is sought, used on raw consumption as well as finishing oil at culinary functions.

• Organic Extra Virgin Olive Oil: This is a type of olive oil, which is produced from synthetic pesticides and chemicals-free raised olives. Organic EVOO targets health- and environmentally-conscious consumers, as it is certified organic. Regulatory authorities approve of it, and demand is going up among consumers, most of whom are prioritizing organic food and sustainable methods of production.

By Application

Based on application, the global market can be categorized into Culinary Use, Cosmetic and Personal Care, & Pharmaceuticals

• Culinary Use: The largest share of the EVOO market is in culinary usage, which encompasses cooking, salad dressings, marinades, and sauces. It is very popular for flavor and health benefits, especially in Mediterranean and health-conscious diets, making it a staple in households and restaurants.

• Cosmetic and Personal Care: Extra Virgin Olive Oil is highly in demand in the market for skincare and haircare products due to its moisturizing and antioxidant properties. It is used in soaps, lotions, hair treatments, and other cosmetic formulations catering to consumers looking for natural and chemical-free beauty solutions.

• Pharmaceuticals: Because of its anti-inflammatory and antioxidant properties, EVOO is used in the pharmaceutical industry to produce products related to heart health, joint care, and digestive health. Its use is as an ingredient in supplements and therapeutic products targeting health-conscious consumers interested in natural remedies and supplements.

MARKET DYNAMICS

Market dynamics include driving and Restraining Factors, opportunities and Challenges stating the market conditions.

Driving Factors

"Health Knowledge and Food Changes to Boost the Market"

There is a noticeable boost in the Extra Virgin Olive Oil Market growth. High awareness about the health aspects of EVOO with its antioxidants and heart-friendly fats makes it a highly driving force. Consumers now are turning to healthier options like EVOO, where it helps in reducing inflammation, lowering cholesterol, and providing better cardiovascular health benefits. The same is now more noticeable in regions prone to lifestyle diseases.

"Culinary and Specialty Food Trends to Expand the Market"

The global cuisine, especially Mediterranean diets, is a driver for the demand of EVOO. It often appears in cooking shows, gourmet recipes, and culinary publications that talk about EVOO's rich flavor and health properties, thereby encouraging more consumers to include it in their diets.

Restraining Factor

"High Cost of Production and Premium Pricing to Potentially Impede Market Growth"

In contrast, premium pricing is an intrinsic characteristic of EVOO. The higher price of the oil is related to the labor-intensive mode of its cultivation, high control on quality, and higher production standards. It limits this oil's availability to consumers sensitive to the price level and broader utilization in developing regions, where one of the key factors driving purchasing is price.

Opportunity

"Rising Demand for Organic and Sustainable Products To Create Opportunity For The Product In The Market"

Consumers are increasingly interested in organic and sustainably sourced products, opening up opportunities for brands to offer organic EVOO. Organic EVOO can capture a larger market share and increase brand reputation as consumers are willing to pay a premium for eco-friendly and chemical-free options.

Challenge

"Supply Chain Vulnerabilities Challenges Could Be A Potential Challenge For Consumers"

The supply chain has vulnerabilities, with EVOO being a concentrated product produced in certain regions of the Mediterranean. Thus, a supply chain could be hindered by climatic imbalances, labor shortages, and geopolitical tensions, mainly affecting the stability of pricing and availability.

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EXTRA VIRGIN OLIVE OIL MARKET REGIONAL INSIGHTS

North America

The North America region has a growing United States Extra Virgin Olive Oil Market. North America's major consumer is the U.S., and it is motivated by increased health awareness and the rise in popularity of Mediterranean food. In the U.S., high-quality and organic EVOO has found a lot of demand, which encouraged a strong import market. The varieties coming from Spain, Italy, and Greece are increasing constantly.

Spain (Europe)

This is the largest producer and exporter of EVOO. It is one of the world's largest producers of olive oil. The country supplies the domestic and international markets with high-quality olive oil, and it exports mainly to the U.S., EU countries, and emerging markets. Spanish EVOO is popular for its quality and affordable pricing, making it a staple in households and restaurants worldwide.

Italy (Europe)

Italy is well-known for its premium quality brands of EVOO often referred to as the 'gold standard' because of strict quality standards and traditional processes of production. Italian EVOO is largely consumed in Europe, North America, and Asia-Pacific and primarily targets gourmet and organic users.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market Through Innovation and Market Expansion"

The EVOO market is highly competitive with well-established global manufacturers and newer regional producers. The focus of key players in this market is on high-quality, organic, and sustainably sourced EVOO to meet the increasing demand from consumers. Such companies invest in advanced production processes to ensure purity, flavor retention, and nutritional value while also emphasizing eco-friendly practices. They focus on massive marketing efforts and new packaging to gain the health-conscious consumer base.

List of Top Extra Virgin Olive Oil Market Companies

• Bertolli (Italy)
• Colavita (U.S.)
• Kirkland Signature (U.S.)
• Filippo Berio (U.S.)
• Deoleo S.A. (Spain)
• Gallo (Spain)
• Carbonell (Spain)
• Olivar de Segura (Spain)
• Lucini Italia ((U.S.)
• Pomi D'Oro (Italy)

KEY INDUSTRY DEVELOPMENT

March 2021: The EVOO market received a significant boost with the introduction of a new certification program to guarantee authenticity and quality in EVOO products. This was initiated by a group of producers and agricultural organizations against fraud and mislabeling in the industry. Testing methods are stringent, and traceability from farm to bottle ensures that consumers make an informed choice.

REPORT COVERAGE

The report on the Extra Virgin Olive Oil (EVOO) market is presented with an analysis of trends, key drivers, and Challenges affecting growth. This report is segmented By Type, application, and region, giving insight into the preferences of consumers and buying behavior. It analyzes the competitive landscape and highlights major players and their strategies in penetrating the market. The report is also enriched by an overview of new trends, including certificates and new green innovations, and by forecasted growth in the next few years, followed by suggestions to stakeholders regarding profitable opportunities available in the growing market.