Olive Market Size

Olive Market Analysis

The Olive Market size is estimated at USD 14.89 billion in 2024, and is expected to reach USD 18.86 billion by 2029, growing at a CAGR of 4.85% during the forecast period (2024-2029).

• The olive market has increased in recent years, majorly driven by a shift in the consumption pattern toward the inclusion of olive oil in regular diet and the usage of table olives from Mediterranean cuisine in non-European countries. The demand for olives is not just rising from the food industry; the need for olives and olive trees is also rapidly growing from the Cosmetic industry to make products from the olive oils and biological fuel sector, where bilo fuel is derived from the cultivation of olive trees and the production of olive oil.
• In terms of production, Spain is the largest producer of olives in the world, and Italy holds the second-largest share. Though olive is also produced in various new regions, it is concentrated in the Mediterranean. According to the FAO, the global harvested area of olives was recorded at 9.7 million ha in 2017, which will grow to 12.7 million ha by 2020. Global olive production also grew by 12.3% from 2017 and reached 23.6 million tons in 2020. Though the show has been increasing, the yield has been going down significantly in recent years; from 2017, the work has dropped by 14.5% and reached 18,522 hectograms per hectare in 2020.
• Although the processing of olives into edible oil has dominated the trend of olive production for many years, the demand for table olives for various purposes, such as freshly fermented fruits, olive pickles, and food toppings, is on the rise across the country. This trend is anticipated to affect the market in the long term positively.