Market Size of North America Olive Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Market Size (2024) | USD 6.90 Billion |
Market Size (2029) | USD 9.13 Billion |
CAGR (2024 - 2029) | 5.74 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
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North America Olive Market Analysis
The North America Olive Market size is estimated at USD 6.90 billion in 2024, and is expected to reach USD 9.13 billion by 2029, growing at a CAGR of 5.74% during the forecast period (2024-2029).
The North American olives market has grown rapidly in recent years, majorly driven by a shift in the consumption pattern toward including olive oil in regular diet and greater usage of table olives. In North American countries, most olives are produced for oil. However, there are significant markets for processed olives for food, usually as an appetizer or snack or as an additive to cooked dishes. Olives used for oil contain up to 20% oil by weight, including the pit.
In North America, olive production is predominantly centered in the United States, with California at the forefront. In 2023, California processed over 1.94 million gallons of olive oil, representing more than 95% of the United States olive yield, as the Olive Oil Commission of California reported. Additionally, states such as Texas, Georgia, Florida, Arizona, Oregon, Alabama, and Hawaii also play a role in olive cultivation in the country.
In recent years, American consumers have embraced a dietary revolution centered on the nutritional advantages of olive oil. This surge in demand is directly linked to the health benefits of oil. The monounsaturated fats and antioxidants in olive oil are crucial in preventing cardiovascular diseases, hyperlipidemia, and hypertension. Given that the demand for olive oil is closely tied to the demand for olives, the rising popularity of olive oil has led to increased olive production in North America. While Mediterranean nations like Spain, Italy, Morocco, and Tunisia have historically dominated olive oil consumption, families in the United States, Mexico, and Canada also regularly incorporate refined and virgin olive oil into their diets.
According to the US Department of Agriculture and the International Olive Council, in 2023, the United States consumed 375,000 metric tons of olive oil, marking its debut as the world's second-largest consumer, surpassing Spain. Additionally, the California Olive Oil Council's Extra-Virgin certification program, which endorses oil pressed from 100% California-grown olives, has not only enhanced the value of California's olive oil but also appealed to consumers favoring local products, further boosting olive production in the region.
North America Olive Industry Segmentation
Olive, with the botanical name Olea europaea, also known as 'European olive' in Latin, belongs to the family Oleaceae, found traditionally in the Mediterranean basin. Olive cultivars are primarily used for oil consumption. The North American olive market is segmented by geography (United States, Canada, and Mexico). The study covers 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 market estimation and forecasts in value (USD) and volume (metric tons).
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North America Olive Market Size Summary
The North America olive market is experiencing significant growth, driven by a shift in consumer preferences towards incorporating olive oil into daily diets and an increased use of table olives. Olive oil, being the primary component of olive consumption in the region, has seen a rise in demand due to its health benefits, such as the presence of monounsaturated fats and antioxidants that help in preventing cardiovascular diseases. This trend is further bolstered by the growing health consciousness among consumers and the popularity of Mediterranean cuisine, which heavily relies on olive oil. The United States, particularly California, plays a pivotal role in this market, producing the majority of olives in the country, primarily for oil production. However, as production has outpaced the demand for olive oil, other markets for table olives and olive-based products have emerged, contributing to the market's expansion.
The increasing demand for organic and natural food products is also influencing the growth of the olive market, with consumers willing to pay a premium for such offerings. California's favorable climate, akin to that of Mediterranean countries, supports its status as a major olive producer. The United States remains a net importer of olive oil, with significant imports from countries like Spain, Italy, and Greece, while Mexico and Canada also contribute to the regional olive production. Initiatives such as grants for evaluating olive cultivation in Florida and strategic acquisitions by companies like Bell-Carter Foods are further supporting the market's growth. These developments highlight the dynamic nature of the North American olive market, driven by both domestic production and international trade, as it continues to expand to meet the rising demand for olive oil and table olives.
North America Olive Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Dietary Revolution Leading to an Upsurge in Demand for Olive
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1.2.2 Favorable Government Initiatives Promotes Olive Cultivation
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1.2.3 Rise in Demand for Naturally Processed Table Olives
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1.3 Market Restraints
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1.3.1 Extreme Biotic and Abiotic Stresses
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1.3.2 Price Volatility
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1.4 Value Chain Analysis
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2. MARKET SEGMENTATION
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2.1 By Geography
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2.1.1 United States
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2.1.1.1 Production Analysis (Volume)
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2.1.1.2 Consumption Analysis (Volume and Value)
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2.1.1.3 Import Analysis (Volume and Value)
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2.1.1.4 Export Analysis (Volume and Value)
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2.1.1.5 Price Trend Analysis
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2.1.2 Canada
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2.1.2.1 Production Analysis (Volume)
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2.1.2.2 Consumption Analysis (Volume and Value)
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2.1.2.3 Import Analysis (Volume and Value)
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2.1.2.4 Export Analysis (Volume and Value)
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2.1.2.5 Price Trend Analysis
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2.1.3 Mexico
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2.1.3.1 Production Analysis (Volume)
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2.1.3.2 Consumption Analysis (Volume and Value)
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2.1.3.3 Import Analysis (Volume and Value)
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2.1.3.4 Export Analysis (Volume and Value)
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2.1.3.5 Price Trend Analysis
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North America Olive Market Size FAQs
How big is the North America Olive Market?
The North America Olive Market size is expected to reach USD 6.90 billion in 2024 and grow at a CAGR of 5.74% to reach USD 9.13 billion by 2029.
What is the current North America Olive Market size?
In 2024, the North America Olive Market size is expected to reach USD 6.90 billion.