The recent consequences of adverse climatic events in the key olive growing regions within the Mediterranean have taken a severe toll on olive production, thereby affecting volumetric output of olive oil. As the olive yield, supply, olive oil volumes, and overall prices prominently rely on a set of external factors including weather, Spain and Italy have had experienced skyrocketing olive oil prices in the recent years. Similarly, floods have been responsible for plunging Olive Oil Market in Spain, whereas heat waves ravaged Olive Oil Markets in Italy and Greece. While experts have already projected a long-term worldwide olive oil shortage, olive crop decimation due to bacterial infections and fruit fly attack is expected to further cause the fall of the most fertile olive groves. Despite drastic price volatility, there has been no signs of olive oil demand abating across the globe, which points to a challenging scenario facing olive oil producers.
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Major Opportunities Sill Flash in Retail and Foodservice Sectors in Olive Oil Market
As indicated by the analysis of global olive oil market on the basis of end user, retail and foodservice currently contribute a lion’s share to the total olive oil market value. Nearly four-fifth of the entire olive oil market sales revenue is being collectively brought in by these two end users. While Europe’s foodservice sector has been the most prominent market for olive oil producers over the years, foodservice in Asia Pacific is identified to reveal a wealth of new opportunities in the years ahead. On the other side, retail will also remain one of the most dynamically evolving realms that enables olive oil market players to constantly be on their toes, in an effort to discern their target customers - maintaining a customized approach.
Olive Oil Exporters to Explore New Business Opportunities with the EU-Japan Trade Deal
European farmers and agricultural product companies are presumed to enjoy revolutionary benefits of the brand new EU-Japan Trade Deal. While the deal intends to appease the tax pressure on the goods and service trade among the EU and Japan, it is foreseen to pave the way for European farmers and agricultural product exporters to penetrate the massive Japanese market space. A large number of agricultural products exported by the EU countries to Japan will now have a ready access to Japanese market, followed by a protected scenario for more than 200 food and beverage products. Producers, bottlers, and exporters of olive oil are likely to explore a free trade zone in Japan post this deal, owing to flexible packaging and labeling guidelines.
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China to Make it Big in Olive Oil Market; North America Still Awaits Breakthrough Progress
China, with an estimated US$ 200 million worth of yearly olive oil consumption, is predicted to emerge as a big market for olive oil in the near future. China’s nouveau riche is rapidly shifting to healthier dietary alternatives including olive oil, compelling the country to raise a massive volume to import each year. American consumers have been relatively unaffected by the supply-demand and pricing scenario of olive oil market. According to industry experts, Americans are relatively undereducated regarding nutritional offerings of olive oil, which highlights the scope for improved performance of North America’s olive oil market. Post the first Olive Oil Conference to be held at Yale, The School of Public Health under Yale University is planning to establish an olive oil research center, emphasizing its health and nutritional benefits. This and more such initiatives will possibly push consumer awareness about olive oil consumption – encouraging sales of olive oil in North America.
Competition Analysis: Global Olive Oil Market Report
The report provides a complete analysis of the global olive oil market landscape with an objective to help key competitors build prudent growth strategies to stand out from the competition. Some of the companies profiled in the olive oil market report include Associated British Foods (Ach), Ruchi Soya Industries Ltd., The Adani Wilmar Ltd., Archer Daniels Midland Company, Cargill Inc., Adams Group Inc., and Bunge Limited.
Colavita USA, a leading international oil distributor, recently launched its Dixon site to support the processing and bottling of 100% extra virgin olive oil - exclusively originated in California. The production site sources olive from across the state to process the premium product, and distributes olive oil bottles to domestic and Asian markets.
Italy and Spain have been dominating Japan’s olive oil market over the years. The trade deal between the EU and Japan will set up a huge open trade zone that is anticipated to introduce lucrative opportunities for merchants and olive oil exporters based in EU countries. European stakeholders in the olive oil market are poised to focus on capitalizing the benefits of the EU-Japan deal in the near future.
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