Ripe Olives Market

Ripe Olives Market Size and Forecast (2023-2028):

The Global Ripe Olives Market size is expected to grow at a CAGR of 4.40% during the forecast period 2023-2028 to reach USD XX million by 2028.

Market Overview:

Olives are the type of fruit grown on an olive tree, scientifically known as Olea europaea, ripe olives are the mature form of olives. Olives are harvested when it changes color from green to purplish-brown to black, which is the ripened form of olives. Olive trees grow across the Mediterranean Basin and have been cultivated in regions such as South America, South Africa, India, China, Australia, New Zealand, Mexico, and the United States. Various olive varieties are central to Mediterranean cuisine and serve as a vital export crop for countries like Spain, Italy, Greece, Turkey, and Morocco. Olives are often used either in sliced form or whole in dishes and are also pressed to create olive oil, a significant agricultural export in the Mediterranean area. Incorporating olives into your diet or utilizing olive oil in certain meals may offer protection against various health issues such as heart diseases, cancer and lowers the risk of cognitive disorders.

Recent Developments in Ripe Olives Industry:

• On 19th March 2019, Musco Family Olive Co announced to extend fresh contracts to Tulare County growers as these growers had their contracts terminated by their competitor, Bell-Carter Foods. Musco Family Olive Co. is a privately owned family enterprise, with generations of direct family engagement and expertise gained from Italian olive orchards; Musco has risen as the primary provider of table olives in the United States. It is headquartered in Tracy, California.

REPORT COVERAGE:

Drivers:

A significant factor driving the ripe olives market demand is the growing awareness among health-conscious due to the abundant health-promoting characteristics present in olives. These olives have large amounts of healthy monounsaturated fats, has been proven to be improving cardiovascular health. The consumption of ripe olives regulates and controls cholesterols levels, reducing the risk of heart disease. Furthermore, ripe olives contain many antioxidants, vitamin E, and polyphenols, which help fight cancer and combat oxidative stress by neutralizing free radicals, which can cause chronic illnesses, such as aging and inflammation. As a result, ripe olives are increasingly being demanded.

Moreover, the olives are rich in fiber which aids in digestion and keeps the blood sugar level stable. The presence of minerals such as copper, iron, and calcium further contributes to the nutritional value of olives. Therefore, incorporating ripe olives in the diet maintains overall health and wellness. These features of ripe olives have increased the market demand of the ripe olives market.

The food industry has led to a huge demand for the ripe olives market; ripe olives are used in various cuisines, such as in pizzas, pasta, and salads. Mediterranean salads have elevated ripe olives' use, as they provide tanginess and texture. The rise in convenient ready-to-eat foods matches the adaptable nature of ripe olives. As the food industry keeps inventing new options, using olives in these choices enhances the taste. This not only encourages the need for ripe olives but also creates creativity in cooking, adding to the exciting taste and savory of the food.

Restraints:

One of the significant factors limiting the growth of the ripe olives market is its limited shelf life. Olives are a delicate fruit that undergoes natural fermentation in their natural state, which makes them perishable. This characteristic created challenges for manufacturers and farmers in storing and managing the inventory. It leads to restraint, particularly for the market where the usage and consumption are limited and the budget is low. Which, therefore, decreases the ripe olives market share. The short shelf life leads to complexities in the distribution network. Ripe olives require storage and transportation from the producers to consumers while ensuring it is safe and fresh. Therefore, adds to the cost of logistics and storage and disrupts the manufacturer's budget.

Opportunities:

As there is an increasing number of e-commerce and online retail stores, it provides a great opportunity for the ripe olives market to leverage sales through online sites. As many consumers have a busy lifestyle and therefore look for convenient ways, online shopping is convenient and easy to use. Moreover, digitalization and increased mobile and internet users have caused consumers to use e-commerce platforms for shopping. And hence, ripe olives manufacturers, through online marketing websites, can showcase their products to a wide consumer base; also, online retail eliminates geographical boundaries. Thus, by offering international shipping options, producers can deliver to a diverse customer base, including those residing in regions where olives are not easily available. This will increase the ripe olives market share.

COVID-19 impact on Ripe Olives Market:

The outbreak of COVID-19 had a significant impact on the growth of the ripe olive market. The implementation of lockdowns and travel restrictions to restrict the spread of the virus. These measures led to various challenges, such as labor shortages and transportation disruptions, which impacted harvest. Therefore, the quarantine measures strained the availability of labor and delayed harvesting activities. With social distancing, manufacturers and facilities altered their production capacity to ensure the safety of the laborers, and transportation restrictions further hampered the movement of raw materials and finished products, leading to disruption in the global supply chain.

The shutting down of the restaurants and cafes caused a severe decrease in the demand for olives, hampered the ripe olives market growth. ripe olives are widely used in various cuisines, such as salads, pasta, and pizza. The decline in the food service directly impacted the producers, suppliers, and distributors and also caused a decrease in the market share.

Ripe Olives Market Segmentation Analysis:

By Product:

• Sliced olives
• Pitted olives
• Whole olives

Based on the product, the ripe olives market is divided into sliced and pitted olives; the pitted olives have the highest market share during the forecast period. Pitted olives are those olives in which dirt and pits are removed. Pits are removed manually or through automated methods, employing devices like "Baumé" from France and "Grizzly Gadget" from Belgium. These olives are harvested later in the stage and possess a firm texture and a delightful taste, making them a prevalent choice, particularly within the European market. Among pitted olives, the black variety is the most widely consumed type. Sliced olives are commonly used in pizza, salads to enhance flavor and presentation, sandwiches and wraps for a savory, and Mediterranean cuisine. They are also used in pasta, dips, and baked goods, for appearance and flavor. Whole olives are commonly consumed as an individual starter or snack or as marinated or cured in brine with flavourful seasoning.

By Application:

• Online sales
• Offline sales

Based on the application, the ripe olives market is divided into online and offline sales. Offline sales have the highest market share, as most consumers prefer offline purchases of olives. Moreover, online selling of ripe olives is increasing due to high competition and consumer behavior towards the traditional grocery store, causing consumers to buy ripe olives through offline sale platforms. Online sales are forecasted to grow significantly over the years, as the online shopping is becoming popular due to digitalization and increasing online shopping platforms.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

By Region Analysis:

Based on the region, the North American segment has the highest market share and has generated maximum revenue; this segment's dominance is due to its usage in various cuisines. Most consumers use olives in salads, pasta, and pizzas for extra savory and flavor. Asia Pacific has the largest market share over the forecasted period since olive oil is used for cooking and other purposes, such as moisturizing skin and keeping it healthy and glowing. Moreover, Latin American countries export olives internationally to various other regions. Europe is also seeing significant growth due to growing awareness among consumers since olives protects from various disorders. Latin America has steady growth in the ripe olives market, as olives are mostly used in cuisines and, sometimes, incorporated into the natural remedy for skin problems. The Middle East and Africa have been known for olive cultivation and have been using olives for traditional cuisines, but has a low market share compared to other regions.

Key Players in the Market:

Major Key Players in the Global Ripe Olives Market are

• CRESPO OLIVESBell-Carter Foods (Lindsay)
• Maçarico, S.A.
• Cento
• Roland Foods
• Cantoliva
• Musco Family Olive Co.
• Sardo Foods Inc
• Mezzetta
• Ideal Olives
• Penna Gourmet Olives
• Rosa Food Products Co., Inc
• Schreiber Foods International, Inc
• Sun-Brite Foods
• Mario Camacho Foods
• Musco Family Olive Co.