Olive Oil Market Size and Growth Forecast 2026-2034

Market Overview:

According to IMARC Group's latest research publication, "Olive Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2026-2034", The global olive oil market size was valued at USD 15.7 Billion in 2025. Looking forward, IMARC Group estimates the market to reach USD 21.6 Billion by 2034, exhibiting a (CAGR) of 3.52% during 2026-2034.

This detailed analysis primarily encompasses industry size, business trends, market share, key growth factors, and regional forecasts. The report offers a comprehensive overview and integrates research findings, market assessments, and data from different sources. It also includes pivotal market dynamics like drivers and challenges, while also highlighting growth opportunities, financial insights, technological improvements, emerging trends, and innovations. Besides this, the report provides regional market evaluation, along with a competitive landscape analysis.

How AI is Reshaping the Future of Olive Oil Market

• Producers can use AI-driven predictive analytics to assess possible yield and quality of crops based on weather and soil conditions, and this can reduce some of the uncertainty.
• Modern olive oil extraction machines utilize IoT sensors to monitor moisture, oil yield and paste consistency, with the most advanced machines using 40 percent less water and achieving a 25 percent increase in yield.
• Andalusia in southern Spain is the largest olive-oil producing region in the world. The Andalusian company TADA.ai created an AI system with 76% accuracy using previous olive oil prices, meteorological and production data to project future prices. Farmers, retailers, investors and traders can use these price predictions to aid decision-making.
• With automation and robotics, continuous two-phase and three-phase centrifugation systems have reduced the labor and time needed for processing olive harvests from days to hours.
• AI-driven blockchain solutions are being developed to create transparent, traceable olive oil supply chains, enabling brands to prove products are extra virgin and meet consumer demands for authenticity and sustainability compliance.

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Key Trends in the Olive Oil Market

• Health and Wellness: World demand for olive oil products, especially extra virgin, is growing as a source of monounsaturated fats and antioxidants that lower the risk of heart disease. Revenues from global health and wellness industry are forecasted to grow from USD 5.6 Trillion in 2024 to USD 8.5 Trillion by 2027. Health-positioned olive oil brands can benefit from this expansion by replacing unhealthy fats.
• Food Trends Favoring Authenticity: The global adoption of Mediterranean cuisine is leading to an increase in demand for high-quality olive oil and olive oil as an ingredient.75% of Americans now regularly cook at home, and 67% of millennials say they love to cook. Growing interest in gourmet/artisanal foods has led to the promotion of extra virgin olive oil in specialty recipes.
• The world-wide certified organic production is now spread across 188 countries on over 96 Million Hectares. Sustainability, improved by consumers' growing commitment to purchasing certified, environmentally friendly olive oils, and willingness to spend more for certified organic products, is reflected in the growth of organic food sales globally to reach nearly 135 Billion euros in 2022.
• Channels of distribution for e-commerce offer producers and premium brands an opportunity to reach health-oriented consumers. Growth in subscription boxes, gift boxes curated with health products, and direct-to-consumer (DTC) olive oil brands is of particularly high interest in the United States and Asian markets, where awareness and adoption of the Mediterranean diet is growing rapidly.
• Demand vs supply: Droughts and supply chain interruptions have raised EU and UK retail prices of olive oil 50% and 150% respectively since 2021. Prices are set to fall after overproduction in the 2024-2025 harvest. This leads to some diversification in sourcing, with retailers and manufacturers obtaining olives from Spain, Italy, Tunisia and new sources to the market such as Argentina and Australia.

We explore the factors driving the growth of the market, including technological advancements, consumer behaviors, and regulatory changes, along with emerging olive oil market trends.

Growth Factors in the Olive Oil Market

• Health-Conscious Consumer Shift: Nearly 6.7 million Americans over 20 years old are living with heart failure. That number is projected to rise to 11.4 million in 2050. Doctors recommend replacing saturated fats with olive oil, a heart-healthy unsaturated fat. Thus, this medical advice increases demand in the olive oil market in the long term.
• Mediterranean Diet Popularity: The U.S. remained as the second top-consuming nation of olive oil in the world in 2023, reaching 375,000 Tons, exceeding Spain for the first time. The Mediterranean diet, which includes high olive oil consumption, is the main factor driving the growth of olive oil consumption in the North American market.
• Non-food use: While the hydration and anti-inflammatory effects of olive oil are fueling its appeal in cosmetics and pharmaceuticals, food and beverages still dominate the sector and account for 68.8% of consumption. Adjacent markets are, however, growing.
• Technical developments, particularly continuous centrifugation, automated malaxers and smart extraction systems, allow higher yields and product quality, lower production costs, and the economically profitable production of high quality products at a competitive price.
• Attractive Eco-Conscious and Premium Buyer Base: Consumers worldwide are more interested in sustainably produced, traceable olive oil, certified GI (geographic indications) and organic. European standards and GI certification (PDO - Protected Designation of Origin) help drive brand credibility and pricing opportunities.

Leading Companies Operating in the Global Olive Oil Industry:

• Artajo Oil
• Borges International Group, S.L.U.
• California Olive Ranch Inc.
• Cargill Incorporated
• Colavita SpA
• Conagra Brands Inc.
• Del Monte Foods Inc. (Del Monte Pacific Ltd.)
• Deoleo
• Domenico Manca S.p.a.
• EU Olive Oil Ltd.
• Gallo Worldwide
• Gruppo Salov
• Sovena Group

Olive Oil Market Report Segmentation:

Breakup By Type:

• Virgin Olive Oil
• Refined Olive Oil
• Extra Virgin Olive Oil
• Olive Pomace Oil
• Others

Virgin olive oil holds the largest share at around 61.9% of the market in 2024, favored for its purity, rich flavor, and high nutritional value extracted without chemicals or excessive heat.

Breakup By Distribution Channel:

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Stores
• Others

Supermarkets and hypermarkets lead the distribution channel segment with 56.8% of the market share in 2024, driven by their wide reach, diverse product offerings, and consumer convenience.

Breakup By Application:

• Food and Beverage
• Pharmaceuticals
• Cosmetics
• Others

Food and beverage leads with 68.8% of market share in 2024, driven by olive oil's widespread use in cooking, salad dressings, marinades, baked goods, restaurant menus, and gourmet artisanal products.

Breakup By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

Europe dominates the market with a 63.8% share in 2024, producing approximately 67% of the world's olive oil across around 4 Million Hectares of olive cultivation, anchored by Spain, Italy, and Greece.

Recent News and Developments in Olive Oil Market

• November 2024: The EU and UK have seen olive oil prices increase 50% and 150% respectively since 2021. Spanish producer Deoleo predicts the 2024-25 harvests will improve and that the price of olive oil will fall by 50% as supply chains normalize. Spain, which has been experiencing drought for several years, produces approximately half of the world's olive oil.
• September 2024: Research published in ACS Journals, in regards to new applications of olive oil, includes: improving the cement used in crude oil wells with waste, extracting anti-aging compounds (HvOle) from olives for cosmetics and using DNA sensors to detect adulteration (thereby extending the oil's value chain).
• In March 2025, Deoleo announced the acquisition of Casa de la Cruz, which complemented Deoleo's own organic virgin olive oil, and its distribution networks throughout Europe, among consolidation among other global players in the sector.
• In November 2024, Gaea signed a long-term supply agreement with French multinational group Carrefour, under which the former will supply products to the latter's hypermarkets in selected European markets, exemplifying the value of long-term supply chain partnerships.
• June 2024: In response to accelerating consumer demand for organic and clean-label edible oils, Colavita launched an Organic Extra Virgin Olive Oil line for premium grocery and foodservice establishments.

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