India Olive Oil Market:Global Industry Analysis, Trends, and Forecast 2027

In 2021, the India Olive Oil Market was worth US$ 80.73 million. During the forecast period, the market is expected to increase at a CAGR of 10.2%, by 2027, the market is anticipated to be worth US$ 131.2 million.
India Olive Oil Market Overview:
Olive oil is a viscous liquid obtained by pressing whole olives from the fruit of the olive tree. Olive oil has a low smoke point of 240 degrees Celsius, allowing it to be taken raw. Olive oil use is often regarded as healthful, as it has been linked to a reduced risk of heart disease and cancers such as colorectal and breast cancer.

Olive oil also contains polyphenols, vitamins E and K, chlorophyll, and carotenoids, which are all good sources of monounsaturated fatty acids and antioxidants. Due to an increase in health-conscious consumers in India, the olive oil business has seen significant expansion in recent years. Extra virgin olive oil is the finest quality olive oil, which must be completely unprocessed and held below 75 degrees Fahrenheit during the mechanical extraction process.



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2021 is considered as a base year to forecast the market from 2022 to 2027. 2021’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2027. 2021 is a year of exception and analysis, especially with the impact of lockdown by region.
India Olive Oil Market Dynamics:
Due to the high potential and consistent expansion, India olive oil is more competitive and price-sensitive:

Because of the olive oil market's tremendous potential and consistent growth, it has grown increasingly competitive and price-sensitive. Olive oil use is often regarded as healthful, as it has been linked to a reduced risk of heart disease and cancers such as colorectal and breast cancer. The smoke point of olive oil is extremely low. This implies that when exposed to high temperatures, it quickly heats up and can even burn. Cooking with olive oil over high heat can produce poisonous smoke that contains components that are detrimental to human health which is the major factor for driving the growth of the market.

Olive oil use is often regarded as healthful, as it has been linked to a reduced risk of heart disease and cancers such as colorectal and breast cancer. It's also high in antioxidants like polyphenols, vitamins E and K, chlorophyll, and carotenoids, as well as monounsaturated fatty acids. Customers have increased their demand for olive oil due to its nutritional value and flavors.



Restricted olive production in India, as well as price volatility in olive oil are hampering the growth of the market:

In India, the state of Rajasthan produces the majority of the olives. Olives aren't found in India. Olive production in the country began in 2007 with the importation of olive saplings from Israel and their planting in the Thar Desert. Raj Oil, India's first olive oil brand, was introduced on November 9, 2016. However, Olive oil is primarily imported into India from Spain, Italy, and Turkey. While India consumes 17 million tonnes of edible oils, olive oil accounts for barely 0.1% of total consumption. Almost 90 brands are vying for such a limited market share which is a major reason for hampering the growth of the market.

End-user industries' need for olive oil continues to rise which give a huge opportunity for the market:

Greater demand for olive oil from end-user industries increased awareness about the many health benefits offered by the oil, and use in the manufacturing of items in beauty care and cosmetics are all factors giving a huge opportunity for the olive oil market in India, in which it also encompasses, among others, growth. industry, beverage industry, and pharmaceutical industry. The market for olive oil in India is predicted to grow as people's lifestyles change.


India Olive Oil Market Segment Analysis:
By Type, the market is segmented into Virgin, Pomace, Refined and Others. The Pomace segment is expected to hold the highest market share in terms of revenue by 2027. This is because pomace olive oil is a more affordable and widely available olive oil option. Even though pomace olive oil is processed, it is still seen as a superior option to other oils on the market and hence is in great demand when compared to other olive oils. Pomace oil, like olive oil, can be used in the kitchen. It's eccentric because, unlike extra virgin olive oil, which has a low boiling point, pomace oil may be used for deep frying. Pomace oil can be used to treat hair problems in addition to its culinary benefits.

However, the refined segment is expected to grow at a CAGR of 4.4% during the forecast period. Light olive oil is a refined oil with a neutral flavour and a greater smoke point than regular olive oil. Baking, sautéing, grilling, and frying is all options. Refined olive oil offers the same number of calories and health advantages as higher-grade olive oil, but it also lacks in flavour. It also has a greater smoke point than virgin or extra virgin oil, making it a fantastic cooking option.



By Application, the market is segmented into Food, Beverages, Personal Care, and Pharmaceuticals. The Personal Care segment is expected to hold 47.5% of the overall market share in terms of revenue by 2027. Due to increased knowledge of the oil's multiple health advantages and its use in the creation of products in the beauty care and cosmetics industry this segment is on the rise. Additionally, better purchasing power and rising aspiration among the country's lower and middle classes, as well as industry participants developing goods and pricing to cater to consumers with varying degrees of purchasing power, are driving the expansion of olive oil for personal care. This increase in cosmetic and beauty product usage is projected to give profitable prospects for India's industry to grow in the future.

However, the Food segment is expected to grow at a CAGR of 7.6% through the forecast period. According to nutrition and cooking experts, extra virgin olive oil is one of the most versatile and healthy oils to cook with and eat. Olive oil is best utilised for low and medium heat cooking because it has a lower smoke point than other oils. It's also one of the healthiest oils to use in baking.
India Olive Oil Market Regional Insights:
India is the world's second most populated country, with over 15% of the world's population, resulting in a large consumer base. To meet the needs of the country's growing population, many new foreign and domestic companies have grown their edible oil businesses. The consumption of comestible oil varies by region. Even though palm and soybean have displaced many major oils from the market, they have not been able to fully replace them.

However, growing consumption per capita, improved controls on adulteration, increased demand for packaged oil, as well as rising urbanization and consumer spending, were some of the market's primary growth drivers. Retail oil's share of consumer packs has expanded dramatically in the last three to four years, with a double-digit growth rate. Locally produced oils such as mustard oil, coconut oil, and cottonseed oil are more active in the unorganized sector. Due to the narrowing price differential between crude and refined oil, the share of imported refined oil has increased over time.

The objective of the report is to present a comprehensive analysis of the market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the market dynamics, structure by analyzing the market segments and projecting the market size. Clear representation of competitive analysis of key players by Technology, price, financial position, product portfolio, growth strategies, and regional presence in the market makes the report investor's guide.
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India Olive Oil Market


Report Coverage
Details


Base Year:
2020
Forecast Period:
2021-2027


Historical Data:
2016 to 2020
Market Size in 2020:
US $ 80.73 Mn.


Forecast Period 2021 to 2027 CAGR:
10.2%
Market Size in 2027:
US $ 131.2 Mn.


 Segments Covered:
by Type
• Virgin
• Pomace
• Refined
• Others


by Application
• Food
• Beverages
• Personal Care
• Pharmaceuticals



India Olive Oil Market Key Players
• Colavita S.p.A
• FieldFresh Foods Pvt Ltd.
• Deoleo, S.A.
• Modi Naturals Limited
• Cargill Inc.
• R Oomerbhoy Pvt Ltd.
• Ybarra
• Rafael Salgado
• Borges International Group, S.L.
• Hashmitha Enterprise.
• Cargill Inc
• Jindal Retail (India) Pvt Ltd
• Universal Corporation Ltd
• Manisha International Pvt Ltd
• Consumer Marketing (India) Pvt Ltd

Frequently Asked Questions:

1] What segments are covered in the India Olive Oil Market report?
Ans. The segments covered in the India Olive Oil Market report are based on Type and Application.

2] Which Key Player Dominate the India Olive Oil Market?
Ans. Colavita S.P.A, Field Fresh Foods Pvt Ltd, Deoleo S.A., and Modi Naturals Limited are leading key players in the India Olive Oil Market.

3] What is the market size of the India Olive Oil Market by 2027?
Ans. The market size of the India Olive Oil Market is expected to be 131.2 Mn. by 2027.

4] What is the forecast period for the Indian Olive Oil Market?
Ans. The forecast period for the India Olive Oil Market is 2022-2027.

5] What was the market size of the Indian Olive Oil market in 2021?
Ans. The market size of the Indian Olive Oil market in 2021 was US$ 80.73 Mn.