Market Overview
The Middle East and Africa olive oil market size is projected to grow at a CAGR of 2.18% during the forecast period. The global olive oil market size is projected to grow from USD 14.20 billion in 2022 to USD 18.42 billion by 2030.
The Middle East and Africa are becoming important in the global olive oil market, second only to the largest. The high use of olive oil at home and the increasing knowledge of its health benefits, especially the good fats, are making it more popular. Also, government efforts to support eco-friendly olive farming are likely to help the market grow. This is explained in a report by Fortune Business Insights™ called “Middle East & Africa Olive Oil Market, 2023-2030.”
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List of Key Players Profiled in the Report
Leya Olive Oil (Egypt)
Wadi food (Egypt)
Borges International Group (Spain)
Bunge Limited (U.S.)
IFFCO Group (U.A.E)
Kristal Oil (Turkey)
IKK Foods (Saudi Arabia)
Baya Olive Oil (Tunisia)
GEA Group (Germany)
Deoleo S.A. (Spain)
Segments:
On the basis of type, the market is divided into virgin, refined/pure, and others (lampante oil and pomace oil).
Based on end-user, the market is divided into household/retail, foodservice/HoReCa, food manufacturing, and others.
Geographically, the market is studied across Turkey, Egypt, Tunisia, Saudi Arabia, Morocco and the Rest of ME&A.
Report Coverage
The report gives a detailed overview of the olive oil market in the Middle East and Africa, including market size, growth, and competition. It covers topics like production methods, product prices, regulations, new products, industry changes, and COVID-19 effects.
Source: https://www.fortunebusinessinsights.com/middle-east-and-africa-olive-oil-market-107549
Drivers and Restraints
Investment in Sustainable Olive Agriculture Practicesto Progress Market Growth
Investing in eco-friendly olive farming is set to increase the olive oil market in the Middle East and Africa. In Turkey, olives and olive oil are key in the kitchen because of its big olive oil production. The government is teaming up with big companies to support eco-friendly farming. Top companies are also introducing new products to satisfy the rising need for high-quality olive oil.
However, issues with quality discrepancies and adulteration are expected to hinder market growth.
Competitive Landscape
New Production Facilities by Key Players to Advance Market Path
Market players like Borges International Group, IFFCO Group, and GEA Group are growing the olive oil market in the Middle East and Africa. Companies like Leya Olive Oil and Deoleo S.A. are also involved. In August 2022, Saraya Co., Ltd., a health and hygiene product maker, started a new factory in Tunisia. This factory will make and sell olive oil from Tunisian olive types.
Key Industry Development
February 2022- Kristal Oil launched new products under the brand name “Kristal Anatolia” at affordable prices. The new products include extra-virgin olive oil and Kristal Anatolia Riviera.