Spain and Italy main suppliers
The Indian olive oil market is expected to grow at a CAGR of 9.12% in terms of Value and at a CAGR of 1.05% in terms of volume in coming years, according to a report release by ResearchAndMarkets on 19 Feb 2020.
Olive oil is considered as the premium product in the oil category, production of which is the least in India as it is entirely imported from countries like Spain and Italy.
Rajasthan is the only region that fits in to olive oil production criteria in India.
Olive plants require chilling to flower and fruit the temperature should be less than five degrees at night and less than 16 to 20 degrees in the daytime.
Olive oil consumption has seen growth in the last couple of years because consumers are getting aware of the benefits of olive oil usage and its effect on health. There are three main types of olive oil Extra-virgin, Refined and pomace.
The Indian olive oil market is expected to grow at a CAGR of 9.12% in terms of Value and at a CAGR of 1.05% in terms of volume in coming years.
Over the years, the industrial sector used to dominate the trade of olive oil, which has been overtaken by the retail industry. Trade through the retail sector has increased as the companies are targeting mostly the tier one cities with an increase in the number of modern trade and the demand among the consumers.
To increase awareness among the consumers, companies have started providing sample packages of olive oil so that consumers can test the product and include it in their daily usage. The sizes of the packs are ranging from 10 grams to 250 grams and are available with the packages of more than 5kg packs according to the requirement.
Players in the trade are Borges India Private Limited, Deoleo India Private Limited, Cargill India Private Limited, Consumer Marketing (India) Private Limited, Field Fresh Foods Private Limited, Manisha International Pvt. Ltd, Modi Natural LTD, Universal Corporation Limited, Sengee Biochem Exim Private Limited and Jindal Retail (India) Private Limited. fiinews.com
