Global Olive Oil Market 2019-2023
About this market
Packaging innovation in olive oil to drive market growth. With an aim to impart an attractive appeal to their products, vendors are continually innovating the packaging formats. Therefore, packaging innovation in the olive oil sector has emerged as a major trend, which has proven to be quite instrumental in increasing the demand and growth of olive oil since 2014. Technavio’s analysts have predicted that the olive oil market will register a CAGR of about 3% by 2023.
Health benefits of olive oil
One of the major reasons behind the growing demand and consumption of olive oil is the health benefits associated with the consumption of olive oil. Olive oil forms a unique and a tasty alternative to conventional edible oils. Besides, its gluten-free nature imparts it an additional value-added advantage over the other cooking oils.
Increasing demand of substitutes
The global olive oil market is facing tough competition from the rising demand for other vegetable and edible cooking oils. Corn oil, palm oil, coconut oil, peanut oil, mustard oil, and sunflower oil are the substitute products, lower in prices, that pose threat to the growth of the global olive oil market.
For the detailed list of factors that will drive and challenge the growth of the olive oil market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including AVRIL and BORGES INTERNATIONAL GROUP the competitive environment is quite intense. Factors such as the packaging innovation in olive oil and the health benefits of olive oil, will provide considerable growth opportunities to olive oil manufactures. AVRIL, BORGES INTERNATIONAL GROUP, Bright Food, DEOLEO, and SOVENA are some of the major companies covered in this report.
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