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 is the second-largest region in the global olive oil market and one of the emerging players in this industry. The wide use of olive oil in households and growing awareness of the health benefits of monounsaturated fats (MUFAs) are driving demand. Additionally, government initiatives to promote sustainable olive farming are expected to boost market growth. This information is detailed in a report by Fortune Business Insights™ titled “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 offers both qualitative and quantitative insights into the Middle East and Africa olive oil market. It provides a detailed analysis of market share, size, and growth rate for all segments. Along with market forecasts, the report includes an in-depth look at market dynamics and the competitive landscape. Key insights covered in the report include the number of procedures, price analysis of different product types, regulatory scenarios in key countries, pipeline analysis, new product launches, significant industry developments such as mergers, acquisitions, and partnerships, and the impact of COVID-19 on the market.
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
Investments in sustainable olive farming practices are expected to boost the growth of the olive oil market in the Middle East and Africa. In Turkey, olives and olive oil are essential kitchen staples due to the large-scale production of olive oil. Government organizations are working with major regional players, investing in sustainable olive farming. Leading market players are focusing on launching new products to meet the growing demand for extra virgin 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
The presence of market players like Borges International Group, IFFCO Group, and GEA Group is helping expand the olive oil market share in the Middle East and Africa. Other companies, such as Leya Olive Oil and Deoleo S.A., are also active in the market. In August 2022, Saraya Co., Ltd., a manufacturer of health and hygiene products, opened a new factory in Tunisia. This facility will produce and market olive oil from native Tunisian olive varieties.
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.