Market Trends of Africa Olive Industry
This section covers the major market trends shaping the Africa Olive Market according to our research experts:
Rising Demand for Olive Oil owing to its Health Benefits
- Olive oil consumption has grown faster than production over the past three years as consumers are shifting their choices to match a healthier post-pandemic lifestyle. The most significant trends the olive industry needs to explore in 2023 are consumers' focus on healthy eating, plant-based and Mediterranean-style diets, oleo tourism, and olive-based cosmetics.
- In addition, the price of other cooking oils had increased steeply over the past year, compared with only a minor increase in the price of olive oil, encouraging consumers to choose olive oil instead. This will increase consumer demand and the market's growth in the forecasted period.
- The adaptability of olive plants to all the agro-climatic zones of Morocco, government initiatives to increase olive production, and demand for Moroccan olives in the international market are some of the prime reasons for high olive production in Africa. Morocco is also one of the leading olive exporters in the world. Morocco Gold extra virgin olive oil is the finest example of Moroccan olive oil production, which comes from a unique source with unique micro-climate and geological conditions. Moroccan extra virgin olive oil is prized for its high polyphenol compound and remarkable health benefits to reduce inflammation, lower blood pressure, and protect against heart disease and stroke. Furthermore, extra virgin olive oil is rich in antioxidants, which can help to boost overall health and wellness.
- Similarly, the olive oil quality project enacted in the country with the help of the United Nations Food and Agriculture Organization (FAO) and the European Bank for Reconstruction and Development (EBRD) continues to support the Moroccan olive oil sector. Hence, the above factors will boost the market opportunities for the olive industry in the coming years.
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Morocco Leads in the Olive Production
- Morocco is one of the world's leading producers of extra virgin olive oil due to the country's ideal climate and rich soil. Morocco has more than four million olive trees, the primary source of extra virgin olive oil production. The country's warm days and cool nights create the perfect environment for olives to grow to their full potential. All these factors combine to make Morocco a top producer of extra virgin olive oil and in high global demand.
- The main olive production regions in Morocco are Fez-Meknes and Marrakech-Safi, the largest in production at the national level. Government initiatives to increase olive production and demand for Moroccan olives in the international market are some of the prime reasons for high olive production in Africa.
- Morocco is quickly becoming one of the largest olive oil producers outside of the European Union, joining the likes of Turkey and Tunisia, which produced 227,500 tons and 240,000 tons of olive in the country. According to International Olive Council (IOC), the production of olives exceeded 150,000 tons in 2020-21r, which increased compared to the previous year with 145,000 tons.
- According to the Ministry of Agriculture, the national production of olives for the 2021-2022 season amounted to about 1.96 million tons, an increase of 21% compared to the previous season. Rising production figures are the fruit of the long-term plan for olive growing expansion in the country, quickly becoming one of the most relevant olive oil producers outside of Europe. This is expected to grow the market during the forecasting period.
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