Olive Oil Market Growth Fueled by Shift Toward Natural and Organic Living

The global olive oil market size was estimated at USD 22.30 billion in 2022 and is anticipated to reach USD 33.12 billion by 2030, growing at a CAGR of 5.2% from 2023 to 2030. The market has witnessed robust growth in recent years, supported by shifting consumer preferences toward nutrient-rich and minimally processed oils.

The inclusion of healthier oils in diets to reduce the risk of chronic health conditions, coupled with the growing popularity of artisanal and premium-quality edible oils, has boosted demand. Consumers are increasingly seeking functional health benefits, making olive oil highly desirable for its unique nutritional profile.

Olive oil is rich in monounsaturated fats and antioxidants and is associated with reducing the risk of cardiovascular diseases, lowering cholesterol, and improving overall health. It is also a valuable source of vitamin E and offers strong anti-inflammatory properties, which continue to attract health-conscious consumers worldwide.

The market’s growth is further supported by the rising prevalence of lifestyle-related health issues and the ongoing trend of prioritizing overall wellness. For example, in February 2023, Starbucks launched three new coffee flavors infused with olive oil, initially in Italy, with plans to expand internationally, highlighting the increasing use of olive oil in innovative food and beverage applications.

Key Market Highlights:

• Europe accounted for the largest revenue share of 63.8% in 2022.
• By type, the refined olive oil segment dominated with a 31.1% share in 2022.
• By application, the food & beverage segment led the market with a 43.4% share in 2022.
• By distribution channel, supermarkets & hypermarkets accounted for 36.8% of the share in 2022.
• By packing, the bottle segment represented 52.7% of the market in 2022.

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Market Performance:

• 2022 Market Size: USD 22.30 Billion
• 2030 Projected Market Size: USD 33.12 Billion
• CAGR (2023–2030): 5.2%
• Europe: Largest market in 2022
• North America: Fastest growing market

Prominent Companies & Market Dynamics:

The organic olive oil sector is experiencing notable growth, fueled by expanding demand in the food & beverage, cosmetics, and personal care industries, along with rising consumer awareness of organic health benefits. The market is fragmented, with numerous established players—particularly in Europe—intensifying competition. Key strategies include geographic expansion and innovative product launches.

For instance, in July 2022, Genosa, a Spanish company, introduced a new olive oil variant enriched with soluble hydroxytyrosol, a phenol-rich compound with proven health-promoting properties. This innovation highlights the evolving applications of olive oil across different sectors.

Key Companies:

• Deoleo
• SOVENA
• GRUPPO SALOV
• Del Monte Foods Private Limited
• California Olive Ranch, Inc.
• Borges International Group, S.L.U.
• Pompeian
• Cargill
• Conagra Brands
• Modi Naturals Ltd.

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Conclusion

The global olive oil market is poised for steady expansion, supported by its reputation as a health-enhancing edible oil and its rising adoption in both traditional and innovative applications. With strong demand in Europe and fast-growing opportunities in North America, alongside continuous product innovations, olive oil is expected to remain a key driver in the global healthy oils market through 2030.