Market Trends of Asia Pacific Olive Industry
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.
