Published By : 27 Jun 2016 | Published By : QYRESEARCH
Olive oil is extremely popular as a salad dressing and increasingly consumed across the globe, while enjoying the extensive use in Mediterranean cuisine. Olive trees thrive in the Mediterranean type climate, where there are hot and dry summers and cool winters. Most of the olive oil production is centered around the Mediterranean region.
Use of Olive Oil in Various Industries Boosts Global Olive Oil Market
Olive oil is increasingly being used in cooking, cosmetics, soaps, pharmaceuticals, and other sectors. Olive oil has a lot of importance in cooking due to its ability to mitigate the risk of cardiovascular diseases and cancer, fight depression, and also help in the prevention of osteoporosis, they are highly in demand.
Olive oil is witnessing a high consumption in Asia Pacific and North America due to the rising number of health conscious people, which is impelling the overall growth of the olive oil market. A growth in the cosmetic industry and food and beverages industry is aiding the global olive oil market towards growth.
Olive Oil Manufacturers Faces Inability to Fulfil Consumer Demand
The demand for olive oil has significantly risen in the recent years as more and more people are becoming health conscious. The benefits of olive oil are leading to a heightened demand for the oil. However, the manufacturers are unable to fulfil the demands of the consumers owing to problems such as low harvesting or erratic high temperatures in the major olive producing country of Spain. High temperature in Spain led to pre-maturation of olives. Such issues lead to an increased price of olive oil, which in turn will have a negative impact on the market. Since olive oil is relatively costlier, consumers may change their preference to other oils, which will can a challenge for the market. However, attempts by other regions to grow olives will create opportunities for the market to grow.