According to the report, the India olive oil market generated $58.6 million in 2017, and is expected to reach $127.5 million by 2025, registering a CAGR of 9.9% from 2018 to 2025.
Health benefits associated with olive oil consumption coupled with its profound demand from end use industries drives the growth of the market. However, high cost and increased requirement of high-water content for cultivation of olive restrain the market growth. On the other hand, development and manufacturing of olive oil products domestically would create new opportunities to the industry.
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Pomace olive oil segment to maintain lion’s share through 2025
Pomace olive oil segment contributed nearly two-third of the total market share in 2017 and is expected to continue its lead throughout the forecast period. This is attributed to the fact that pomace olive is a healthier alternative as well as lighter and neutral as compared to other vegetable oils available in the market. However, virgin olive oil segment is expected to grow at the highest CAGR of 14.5% from 2018 to 2025, owing to its growing usage in personal care and pharmaceutical products for skin and hair along with better protection against various diseases such as type 2 diabetes, heart disease, and stroke. The report also analyzes the refined olive oil segment.
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Personal care segment to maintain its dominance throughout the forecast period
Among applications, the personal care segment accounted for nearly half of the total market share in 2017, owing to innovations in healthcare and skincare products that contain virgin olive oil for treatment of acne, hair loss, and dry skin. Moreover, this segment is projected to maintain its dominance throughout the forecast period. One the other hand, the food segment is expected to register the highest CAGR of 12.7% from 2018 to 2025 due to increase in health benefits of olive oil through regular consumption. The report also analyzes the pharmaceuticals and beverages segments.
Leading market players
The key market players analyzed in the report include Colavita S.p.A, Deoleo S.A., FieldFresh Foods Pvt. Ltd., Modi Naturals Limited, R Oomerbhoy Pvt. Ltd., Cargill Inc., Rafael Salgado, Ybarra, Borges International Group, S.L., and Hashmitha Enterprise. These players have adopted different strategies such as mergers & acquisitions, partnerships, joint ventures, collaborations, expansions, and others to sustain and gain a leading position in the industry.
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