Africa Olive Market Size (2024 - 2029)

Africa Olive Market Analysis

The Africa Olive Market size is estimated at USD 14.30 million in 2024, and is expected to reach USD 16.70 million by 2029, at a CAGR of 5.60% during the forecast period (2024-2029).

• The African olive market is witnessing steady growth, fueled by rising demand in both the food service and retail sectors. This surge is further bolstered by an increasing appetite for table olives, heightened olive production, and a notable shift in consumption patterns, with olive oil becoming a staple in many diets. The health benefits associated with olives have notably heightened their appeal across African nations. Numerous studies highlight that olives are nutrient-rich, potentially aiding in cancer prevention and alleviating nerve-related issues. Their beneficial fatty acids, antioxidants, and vitamins have catapulted olive oil to prominence as a sought-after healthy fruit oil in the region.
• Moreover, the olive market's robust expansion is largely attributed to the surging demand in food service and retail avenues. In various African nations, olives play a pivotal role in the culinary landscape, being integral to dishes like sandwiches, pizzas, pasta, and salads, all of which are staples in restaurants and food outlets. This culinary trend, combined with a booming food and beverage (F&B) industry, underscores a primary driver of the market's growth.
• Morocco leads the region in olive production, with more than four million olive trees. For instance, according to FAOSTAT, the production of olives in Morocco was 1,590,504 metric tons in 2021, which increased by 1,968,110.94 metric tons by 2022. The nation's favorable climate, coupled with proactive government initiatives, has catapulted Morocco to the ranks of top global olive oil exporters, especially renowned for its premium extra virgin olive oil. Tunisia, Algeria, and Egypt also emerge as significant players in olive production.
• The government has prioritized improving irrigation, and increasing market productivity since olive has the potential for much more growth, especially in terms of higher value-added organic olive oil. Some factors driving the olives market are the rise in the demand for olive oil, dietary benefits, and pharmaceutical uses, which will boost the market's growth during the forecast period.

Africa Olive Industry Segmentation

A small, oval fruit from the olive tree (Olea europaea), native to the Mediterranean region. Olives are commonly green or black, depending on their ripeness, and are widely used in cooking and food preparation, often for their oil, which is a staple in Mediterranean diets. The African olive market is segmented based on Geography ( Morocco, Algeria, Tunisia, Egypt, and Libya). The report includes production analysis (volume), consumption analysis (value and volume), export analysis (value and volume), import analysis (value and volume), and price trend analysis. The report offers the market size and forecast in both value (USD) and volume (metric tons).