Olive Oil Market size and forecast, 2014-2020 by Future Market Insights

India Olive Oil
Market
Share, Indian Trends,
Analysis, Research, Report,
Opportunities,
Segmentation and Forecast,
2014
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Description
Report Description
Olive oil is high nutritive product extracted from the fresh olive fruits. Olive oil is the key
component of Mediterranean diet, found in countries such as Spain, Greece and Italy. It
is commercially manufactured by crushing or grinding olives and extracting oil from it
through various chemical and mechanical process. The health dominating properties
has led this product to hold a promising future. It possess omega-3 monounsaturated
fatty acid and antioxidants which replaces saturated and trans fats and stimulates
health benefits such as it helps in maintaining health cholesterol level, reduces breast
cancer risk, helps to prevent stroke, lowers the risk of depression, protect liver and
many others (prevent from acute pancreas, protects from ulcerative colitis etc.).
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Globally, Spain and Italy are the highest consumer of olive oil followed by the U.S. The
demand for olive oil is also increasing in developed countries such as Europe and
North America. While the BRIC (Brazil, India, China and Russia) countries have also
shown the vigorous growth towards the acceptance of this product. Among BRIC
countries India and China is expected to be one of the largest consumer in the near
future. In the current scenario the consumption rate of olive oil in India stands at 10,000
to 13,000 tons annually and is projected to grow at a significant growth rate. This is
expected to remain same for the next five years.
Report
Description
Report Description
Traditionally in India the high saturated fatty oil such as ghee or vanaspati were used but
due to rise in health concerns, the consumption pattern changed towards vegetable
refined oil such as sunflower, soybean, or corn oil. This trend remained continued in the
Indian perception and thus they shifted their demand towards olive oil. Thus, increasing
health awareness, strong economic growth and exposure to western lifestyle in the
recent years among the wealthy and middle income group has fuelled the market growth
of olive oil in India. Additionally, awareness of the consumers towards various grades of
olive oils and their beneficial uses has also drive the demand of Indian market for olive
oil.
However there are some restraining factors which are effecting the Indian market growth
for olive oil, such as commercially olive oil are not manufactured in India it is specifically
imported from Spain or Italy, due this it incurs high cost and sold at high price in the
Indian market. Moreover, the Indian trade standards for olive oil are outdated and
obsolete. It does not aligned with the trade standard of Codex, EU, IOC and others.
Thus it creates problems for manufacturers and importers to sell and market this product
in India.
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Report
Description
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The key consumers for olive oil includes food industry, beauty care and cosmetic
industries and pharmaceutical industries and end consumers. As an edible product olive
oil is offered to the end consumers on the basis of its nutritional value, tastes and
packaging. In broad terms olive oil comprises of six types which includes olive pomace
oil, extra virgin olive oil, pure olive oil, refined olive oil, light olive oil and virgin olive oil.
The extra virgin olive oil is considered to be the best quality as it possess less than 1%
acidity level and rich in antioxidants. It is extracted from the fresh olives at first cold
pressing. In India olive pomace oil dominates the market in terms of consumption as it is
considered to be most suitable for Indian cuisine and does not change its flavor or
aroma at the time of preparing food.
The key Players in Indian olive oil market comprises of Borges Mediterranean Group,
Figaro, Farrell, Del Monte Foods, MIMI’s Extra Virgin Olive Oil, Oleev, Unilever Group
(Bertolli), Dalmia Continental and others. Among all these Figaro, Lenardo, and Borges
constitutes 60 percent market of Indian olive oil.
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