Asia Pacific Olive Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 9.56 Billion |
| Market Size (2029) | USD 11.73 Billion |
| CAGR (2024 - 2029) | 4.20 % |
Asia Pacific Olive Market Analysis
The Asia Pacific Olive Market size is estimated at USD 9.56 billion in 2024, and is expected to reach USD 11.73 billion by 2029, at a CAGR of 4.20% during the forecast period (2024-2029).
- In recent years, the Asia-Pacific olive market has witnessed rapid growth, primarily fueled by rising demand in the food service and retail sectors. This surge is also attributed to the increasing popularity of table olives, heightened olive production, and a notable shift in consumption patterns, particularly the growing incorporation of olive oil into daily diets. For instance, according to FAOSTAT, olive production in Asia was 3.26 million metric tons in 2021 to increased by 5.06 million metric tons in 2022. The health benefits associated with olives have notably heightened their appeal in Asian nations. Numerous studies underscore that olives are nutrient-rich, potentially aiding in cancer prevention and alleviating nerve-related issues. Their beneficial fatty acids, antioxidants, and vitamins have propelled olive oil's stature as a sought-after healthy fruit oil in the region.
- Moreover, the olive market's robust growth is largely attributed to the surging demand in food service and retail channels. In Asian countries, olives find extensive use in food services, restaurants, and bars. They're integral to dishes like sandwiches, pizza, pasta, and salads, all of which are staples in restaurants and food outlets. Coupled with the significant expansion of the food and beverage (F&B) industry, this trend underscores a primary driver of the olive market's growth.
- Additionally, trade campaigns spearheaded by organizations such as the International Olive Council and the Interprofessional Association of Spanish Olive Oil are actively promoting olive consumption in the region. These initiatives are translating into tangible sales boosts in Asian markets. For instance, data from the Interprofessional Association of Spanish Olive Oil reveals a 10.25% uptick in Spanish olive oil sales in China, hitting 45,840 metric tons during the 2022 campaign. Given the momentum from these campaigns and trade events, the demand for olives and olive oil in the Asia-Pacific is poised for continued growth in the coming years.
Asia Pacific Olive Market Trends
Shift In the Consumption Pattern Toward Inclusion of Olive Oil
In the Asia-Pacific region, the rising consumption of olive oil is driving an increased demand for olives. This trend is fueled by a growing awareness of olive oil's health benefits, especially its high monounsaturated fat and antioxidant content, which supports heart health and reduces inflammation. Health-conscious consumers in countries like China, Japan, and India are increasingly incorporating olive oil into their diets, using it both as a cooking oil and a dressing for salads and other dishes. This culinary shift aligns with a broader trend towards healthier oils, as consumers move away from traditional fats like palm oil.
Moreover, recent clinical studies have highlighted the benefits of omega-3-enriched products, particularly in supporting cardiovascular health and other bodily functions. The high omega-3 content in olive fruit oil has heightened its demand, as consumers become more aware of the essential fatty acids' role in maintaining good health. Given its beneficial fatty acids, antioxidants, and vitamins, olive oil has gained remarkable popularity as a healthy choice across the region.
Asia-Pacific stands out as one of the fastest-growing regions for olive oil consumption, with Australia, Japan, China, India, and South Korea leading the charge. As middle-income families and affluent consumers in these nations increasingly incorporate refined and virgin olive oil into their diets, the trend becomes evident. According to the International Olive Council, olive oil consumption in Australia has increased from 50,500 metric tons in 2020 to 52,000 metric tons in 2022. Consequently, this surge in olive oil consumption has driven a corresponding increase in olive production in the region, suggesting a continued demand for olives in the coming year.
China Dominates Olive Production in the Market
China has emerged as a key player in Asia's olive production, yet it does not dominate the global market. Traditionally, Spain, Italy, and Greece have held the title of the world's largest olive producers. Nevertheless, China's olive production has surged in recent years, allowing it to take the lead in the Asian market. According to the statistics from the FAOSTAT, olive production increased from 2,608.1 thousand metric tons in 2019 to 2,616.3 thousand metric tons in 2022.
Regions such as Gansu, Sichuan, Shaanxi, and Yunnan provinces, with their favorable climates, are the heart of China's olive production. As part of its broader agricultural diversification strategy, the Chinese government has actively promoted the expansion of olive farming. This initiative aims to curtail import reliance and invigorate the rural economies of these provinces. Moreover, China is honing in on producing premium olive oil and table olives. By prioritizing sustainable practices and organic farming, China seeks to cater to the growing health-conscious consumer base. To align with global benchmarks, certain regions have rolled out organic certification programs and sustainable farming initiatives for local producers.
Asia Pacific Olive Market News
- March 2023: Certified Origins (CO), a US-based firm, debuted its newly certified Roman-origin protected Extra Virgin Olive Oil (EVOO) in China.
- March 2022: Cockatoo Grove, an Australian family-owned company, launched its organic extra virgin olive oil in Woolworths stores nationally.
Asia Pacific Olive Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise In Olive Production Across the Region
4.2.2 Shift In the Consumption Pattern Toward Inclusion of Olive Oil in Regular Diet
4.2.3 Increasing Demand for Olive In Food Service And Other Industries
4.3 Market Restraints
4.3.1 Extreme Climatic Anomalies Disrupting the Production Of Olives
4.3.2 High Cost of Production
4.4 Value Chain Analysis
4.5 PESTLE Analysis
5. MARKET SEGMENTATION
5.1 China
5.1.1 Production Analysis
5.1.1.1 Consumption Analysis and Market Value
5.1.1.2 Import Market Analysis (Volume and Value)
5.1.1.3 Export Market Analysis (Volume and Value)
5.1.1.4 Price Trend Analysis
5.1.2 Japan
5.1.2.1 Production Analysis
5.1.2.2 Consumption Analysis and Market Value
5.1.2.3 Import Market Analysis (Volume and Value)
5.1.2.4 Export Market Analysis (Volume and Value)
5.1.2.5 Price Trend Analysis
5.1.3 India
5.1.3.1 Production Analysis
5.1.3.2 Consumption Analysis and Market Value
5.1.3.3 Import Market Analysis (Volume and Value)
5.1.3.4 Export Market Analysis (Volume and Value)
5.1.3.5 Price Trend Analysis
5.1.4 Australia
5.1.4.1 Production Analysis
5.1.4.2 Consumption Analysis and Market Value
5.1.4.3 Import Market Analysis (Volume and Value)
5.1.4.4 Export Market Analysis (Volume and Value)
5.1.4.5 Price Trend Analysis
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
Asia Pacific Olive Industry Segmentation
Olive is a green or black fruit that is edible and used to produce olive oil. The Olive Market Report Analyzes the Production (Volume), Consumption (Value and Volume), Import (Value and Volume), Export (Value and Volume), and Price Trend Analysis. The report offers market size and forecast in terms of Value in (USD) and Volume in (Metric Tons) for all the segments mentioned above.
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Asia Pacific Olive Market Research FAQs
How big is the Asia Pacific Olive Market?
The Asia Pacific Olive Market size is expected to reach USD 9.56 billion in 2024 and grow at a CAGR of 4.20% to reach USD 11.73 billion by 2029.
What is the current Asia Pacific Olive Market size?
In 2024, the Asia Pacific Olive Market size is expected to reach USD 9.56 billion.
What years does this Asia Pacific Olive Market cover, and what was the market size in 2023?
In 2023, the Asia Pacific Olive Market size was estimated at USD 9.16 billion. The report covers the Asia Pacific Olive Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia Pacific Olive Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia Pacific Olive Industry Report
Statistics for the 2024 APAC Olive market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. APAC Olive analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Asia Pacific Olive Market Report Snapshots
