In the years to come, the success of the global olive oil market in the global food and beverages industry is expected to depend on the realization of the many health benefits of using olive oil. Besides being used in food and beverages, the use of olive oil is also increasing for manufacturing soaps, cosmetics, and pharmaceuticals. This is expected to propel the global olive oil market.
Based on region, the global olive oil in food and beverages market is divided into Asia Pacific, Europe, North America, and Rest of the World. Currently, the demand for olive oil in the European food and beverages industries is the highest. Europe houses massive production facilities and infrastructure, which is benefiting its food and beverages companies. The rising use of olive oil in food and beverages will help Europe to maintain its dominance in the years to come. Massive production facilities in nations such as Greece, Spain, Turkey, and Italy will continue to make Europe as the leading producer of olive oil. At present, Spain and Italy collectively hold 55% of the global olive oil market.
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Overview of the Olive Oil in Food and Beverages Market
The global olive oil in food and beverages market is in its growth phase and is expected to grow at a robust pace. Olive oil has become an integral part of the rising Mediterranean food. Owing to its health benefits and its culinary importance, the demand for olive oil is predicted to increase in many regions across the globe. Olive oil has the ability to fight various health issues such as cancer, depression, cardiovascular diseases, and osteoporosis. This has led to the increasing use of olive oil in various food and beverages.
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At present, the North America olive oil in food and beverages market is driven by the increasing demand for olive oil in the United States. Currently, the United States is ranked as the third biggest consumer of olive oil across the globe. With production facilities in California, Arizona, and Texas, the U.S. is expected to maintain its dominance in the North America olive oil in food and beverages market.
Going forward, Asia Pacific is predicted to register a considerable growth in the global market owing to the rising awareness of the health benefits of consuming olive oil. The demand for olive oil in food and beverages is predicted to increase in India, China, Japan, and Australia.