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 & Africa is the second largest region in the global market and is one of the emerging nations in the market. Wide application in various household uses and growing awareness of fats and oils containing MUFAs due to their health advantages to surge the product demand. Various government initiatives to increase sustainable olive farming are also set to propel the market growth. Fortune Business Insights™ shares this information in its report titled “Middle East & AfricaOlive Oil Market, 2023-2030.”
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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 provides qualitative and quantitative insights on the market and a detailed analysis of the Middle East and Africa olive oil market share, size & growth rate for all possible segments in the market. Along with the market forecast, the research report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights presented in the report are overview of the number of procedures, an overview of price analysis of types of products, overview of the regulatory scenario by key countries, pipeline analysis, new product launches, key industry developments – mergers, acquisitions & partnerships, and the impact of COVID-19 on the market.
Drivers and Restraints
Investment in Sustainable Olive Agriculture Practicesto Progress Market Growth
Investments in sustainable olive agriculture practices are anticipated to drive the Middle East & Africa olive oil market growth. Olives and olive oil are essential products and kitchen staples in Turkey due to massive olive fruit oil production. Government organizations have been collaborating with prominent regional players with investment strategies to support sustainable olive agriculture in Turkey. Leading market players are emphasizing on new product launches to meet the increasing demand for extra virgin olive oil.
However, quality discrepancies and adulteration are expected to restrain the market growth.
Source: https://www.fortunebusinessinsights.com/middle-east-and-africa-olive-oil-market-107549
Competitive Landscape
New Production Facilities by Key Players to Advance Market Path
The presence of the market players such as Borges International Group, IFFCO Group, and GEA Group is contributing to the expansion of the Middle East & Africa olive oil market share. The market also has other players such as Leya Olive Oil and Deoleo S.A. In August 2022, Saraya Co., Ltd., a manufacturer of health and hygiene products and services, opened a new factory in Tunisia. The new facility is set to manufacture and market olive fruit oil from olive varieties native to Tunisia.
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.
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)
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