Olive Oil Market

Olive Oil Market
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Report Description
Olive oil is high nutritive product extracted from the fresh olive fruits. Olive oil is the key
component of Mediterranean diet, found in countries such as Spain, Greece and Italy. It is
commercially manufactured by crushing or grinding olives and extracting oil from it through
various chemical and mechanical process. The health dominating properties has led this product
to hold a promising future. It possess omega-3 monounsaturated fatty acid and antioxidants
which replaces saturated and trans fats and stimulates health benefits such as it helps in
maintaining health cholesterol level, reduces breast cancer risk, helps to prevent stroke, lowers
the risk of depression, protect liver and many others (prevent from acute pancreas, protects
from ulcerative colitis etc.).
Globally, Spain and Italy are the highest consumer of olive oil followed by the U.S. The demand
for olive oil is also increasing in developed countries such as Europe and North America. While
the BRIC (Brazil, India, China and Russia) countries have also shown the vigorous growth towards
the acceptance of this product. Among BRIC countries India and China is expected to be one of
the largest consumer in the near future. In the current scenario the consumption rate of olive oil
in India stands at 10,000 to 13,000 tons annually and is projected to grow at a significant
growth rate. This is expected to remain same for the next five years.
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Report Description
Traditionally in India the high saturated fatty oil such as ghee or vanaspati were used but
due to rise in health concerns, the consumption pattern changed towards vegetable
refined oil such as sunflower, soybean, or corn oil. This trend remained continued in the
Indian perception and thus they shifted their demand towards olive oil. Thus, increasing
health awareness, strong economic growth and exposure to western lifestyle in the recent
years among the wealthy and middle income group has fuelled the market growth of olive
oil in India. Additionally, awareness of the consumers towards various grades of olive oils
and their beneficial uses has also drive the demand of Indian market for olive oil.
However there are some restraining factors which are effecting the Indian market growth
for olive oil, such as commercially olive oil are not manufactured in India it is specifically
imported from Spain or Italy, due this it incurs high cost and sold at high price in the Indian
market. Moreover, the Indian trade standards for olive oil are outdated and obsolete. It
does not aligned with the trade standard of Codex, EU, IOC and others. Thus it creates
problems for manufacturers and importers to sell and market this product in India.
The key consumers for olive oil includes food industry, beauty care and cosmetic industries
and pharmaceutical industries and end consumers. As an edible product olive oil is offered
to the end consumers on the basis of its nutritional value, tastes and packaging.
Report Description
In broad terms olive oil comprises of six types which includes olive pomace oil, extra
virgin olive oil, pure olive oil, refined olive oil, light olive oil and virgin olive oil. The extra
virgin olive oil is considered to be the best quality as it possess less than 1% acidity level
and rich in antioxidants. It is extracted from the fresh olives at first cold pressing. In India
olive pomace oil dominates the market in terms of consumption as it is considered to be
most suitable for Indian cuisine and does not change its flavour or aroma at the time of
preparing food.
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The key Players in Indian olive oil market comprises of Borges Mediterranean Group,
Figaro, Farrell, Del Monte Foods, MIMI’s Extra Virgin Olive Oil, Oleev, Unilever Group
(Bertolli), Dalmia Continental and others. Among all these Figaro, Lenardo, and Borges
constitutes 60 percent market of Indian olive oil.
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