(Entertainment-NewsWire.com, October 26, 2021 ) In the long term, olive oil is considered the most productive sector in Europe. It is an integral part of the consumption patterns of European consumers, like the rising interest in healthier cooking and the Mediterranean diet. Olive oil is a potent anti-inflammatory agent and has been seen to protect against heart disease. It lowers blood pressure and infection while also preserving LDL particles from oxidation and possibly preventing blood clotting. The increasing interest in trying out exotic cuisines like Italian and Spanish has mainly contributed to the increased popularity of olive oil across Europe.
Further, the olive oil industry is experiencing robust growth in Europe primarily due to the increasing demand for olive oil across the food service and retail channels. Maintaining overall fitness and wellness by shifting to healthier oil alternatives mainly drove the market's growth. One of the major factors supporting the development of the olive oil market is the expanding interest in natural, cold-pressed and raw oils attributed to their safer and healthier counterparts. According to Renub research, Europe Olive Oil Market will be US$ 7.35 Billion by 2027.
Spain is the leading Producer, Exporter and Consumer of Olive Oil
Spain accounts for almost half of global olive oil production; other significant producers are Italy, Greece and Portugal. This is due to olive farming, one of the primary businesses in these countries due to the Mediterranean diet. Greece, Spain, Italy and Portugal are the primary producers and exporters in the region. Italy leads the industry in terms of imports and majorly imports olives from United States, China, Brazil, Japan and Turkey. Our research found that European Olive Oil Industry will grow with a good CAGR of 9.64% during 2020-2027.
Virgin Olive Oils are anticipated for strong Performance in Forecast Period
Virgin olive oils were the largest consumed oil in 2019, owing to their increasing popularity among customers attributed to the growing awareness regarding their health advantages in Europe. Omega-3 and oleic acid in virgin oil help prevent lifestyle-related disorders such as obesity and cardiovascular diseases. The extra virgin oil is projected to exhibit substantial growth in Europe due to its rising utilization in Pharmaceuticals, the cosmetics industry and cooking. Besides, European households use extra virgin oil for cooking; it is widely used in personal care products like skincare for various purposes such as massages, sports injuries, and to reduce muscle fatigue, among others. As per this research report, Europe Olive Oil Market Size was US$ 3.86 Billion in 2020.
Growing Use of Olive Oil in European Retail and Foodservice Sector Propels Market Growth
Besides, the growing awareness regarding the role of olive oil in keeping good health has remarkably raised the demand for various types of olive oil in European retail channels. On the other side, retail has remained one of the most dynamically developing realms that enable olive oil market players to regularly be on their toes to discern their target customers and maintain a customized approach.
In addition, the foodservice sector in Europe used olive oil for salad dressing and preparing cold foods. Olive oil is widely utilized for the manufacturing of various food products, essentially healthy snacks. The growing demand for healthy snacks among users has necessitated manufacturers to incorporate nutrient-rich ingredients such as olive fruit oil to improve the value of the final product.
Impact of COVID-19 Pandemic on Europe Olive Oil Industry
The demand and sale of olive oil have observed a sudden slump because of the outbreak of the COVID-19 pandemic. Nationwide lockdown in several countries has resulted in the disruption of trade activities, which has slowed the growth of this industry. However, now with the improved situation the market of Europe Olive Oil is expected to revive in years to come.
Key Players in the European Olive Oil Industry
Some of the market's key players include Deoleo, S.A, Del Monte Foods, Unilever Group, Semapa, Bunge Limited, which continuously research. Players in the Olive Oil Market adopt many essential strategies. For instance, in 2020, Deoleo, the world's leading olive oil producer with brands such as Bertolli extra virgin olive oil, leads in biodiversity.
Renub Research latest Report "Europe Olive Oil Market By Volume analysis (Production (Spain , Italy, Greece, Portugal, Others) Consumption , Import, Export) By Type (Extra Virgin Oil, Virgin Oil, Other (Lampante, Pomace, etc) By Industry (Pharmaceuticals, Cosmetics, Cooking, Other) By End-User (Food Service, Food Processing, Retail) By Company Analysis (Deoleo, S.A, Del Monte Foods, Unilever Group, Semapa, Bunge Limited) studies the European Olive Oil Industry.
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