Rising consumer awareness about benefits of olive oil is driving the India olive oil market. Olive oil is rich in healthy monounsaturated fat such as oleic acid
PORTLAND, OR, UNITED STATES, January 4, 2021 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled,“India Olive Oil Market by Type and Application: Opportunity Analysis and Industry Forecast, 2018 – 2025, “the India olive oil market was worth $ 58.6 million in 2017 and is estimated to be growing at a CAGR of 9.9%, to reach $127.5 million by 2025. Olive oil is a liquid fat that is obtained from olives, a crop typically grown in the Mediterranean Basin. The oil is prepared by pressing whole olives. There are various types of olives such as Picholine, Kalamata, Agrinion olives, Cerignola, and many others, each type is for a particular texture, flavor, or shelf life, which can be used for various applications. By type, the India olive oil market is classified into virgin olive oil, refined olive oil, and pomace olive oil. In 2017, virgin olive oil segment has occupied 15.1% share of the India olive oil market due to its improved nutritional content. Furthermore, the growing acceptance of olive oil in culinary uses is likely to increase its market demand for food and beverage applications.
The factors that drive the India olive oil market include rise in demand for olive oil continuously from end-user industries, growth in awareness about the various health benefits offered by the oil, increase in usage in the manufacturing of products in the beauty care and cosmetics industry, beverages industry, and pharmaceutical industry among others. Changing lifestyle is also anticipated to drive the India olive oil market growth.
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However, higher prices of olive oils and poor domestic production restrict the growth of the olive oil market in India. Nevertheless, government is taking initiative to promote efficient farming techniques developed by the market players, which are effectively increasing the production of olives. These initiatives are estimated to provide impetus to the India olive oil market growth during the forecast period.
KEY FINDINGS OF THE INDIA OLIVE OIL MARKET:
The personal care segment was the highest contributor to the India olive oil market in 2017, and is projected to grow at a CAGR of 9.0%.
In 2017, virgin olive oil segment accounted for 15.1% of the India olive oil market and is projected to grow at the most astounding CAGR of 14.5% from 2018 to 2025.
In 2017, pomace olive oil accounted for almost 65.7% of the share in terms of value in the India olive oil market and is projected to grow at a significant CAGR of 9.1%.
Pharmaceutical accounted for the 24.5% market share with CAGR of 9.6% in the India olive oil market, in 2017.
In 2017, the food segment accounted for 20.0% of the India olive oil market share and is expected to grow at the significant CAGR of 12.7%.
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The key players operating in this India olive oil industry include Colavita S.p.A, FieldFresh Foods Pvt Ltd., Deoleo, S.A., Modi Naturals Limited, Cargill Inc., R R Oomerbhoy Pvt Ltd., Ybarra, Rafael Salgado, Borges International Group, S.L., and Hashmitha Enterprise.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Source: EIN Presswire