Market Analysis

Global RTD Alcoholic Beverages Market Revenue is anticipated to touch USD 32 billion at a 3% CAGR between 2019-2024, states the latest Market Research Future (MRFR) report. RTD or ready-to-drink alcoholic beverages, simply put, are premixed alcoholic solutions that are available in the prepared form, ready to be consumed. Such drinks are versatile and regarded as sophisticated cocktails. Their alcoholic content is lower in comparison to other alcoholic beverages, thus are gaining wide acceptance. Ready-to-drink alcoholic beverages contain alcohol mixed with fruit juice or other soft drinks. Such drinks can contain malt, wine, or spirit that improves its flavors and taste.

Various factors are propelling the RTD alcoholic beverages market. Such factors, according to the latest Market Research Future report, include new product development and innovative packaging, research and experiments with new flavors, burgeoning demand for long drinks and cocktails, inclination towards luxury for rise in disposable income, growing awareness about ready to drink alcoholic beverages, and increasing preference for ready to drink cocktails by millennials.

On the contrary, increasing anti-alcohol campaigns, stringent rules & regulations on the RTD alcoholic beverage advertising, easy availability of alternative products, cultural beliefs, vivid duties and taxation, and harmful effects of consuming RTD alcoholic beverages are factors that may hamper the RTD alcoholic beverages market growth during the forecast period.

Key Players

Notable players profiled in the RTD Alcoholic Beverages Market Revenue include Heineken N.V. (Netherlands), Global Brands Ltd (UK), Halewood International Limited (UK), Shanghai Bacchus Limited (China), Davide Campari Milano SpA (Italy), Molson Coors Brewing Company (US), The Brown-Forman Corporation (US), Mike’s Hard Lemonade Co. (US), Bacardi Limited (Bermuda), Asahi Group Holdings, Ltd. (Japan), Pernod Ricard SA (France), Diageo PLC (UK), Suntory Holdings Limited (Japan), Carlsberg Breweries A/S (Denmark), and Anheuser-Busch InBev SA/NV (Belgium). Key players have incorporated specific strategies to create a niche in the market, such as research and development activities, mergers and acquisitions, collaborations, partnerships/joint ventures, product launch and innovations, and others.

Industry News

November 2019: The Heart Distillery has released canned ready to drink gin and tonics to allow consumers to take pleasure of the gin cocktail in a convenient and portable fashion.

Market Segmentation

The Market Research Future report offers a complete segmental analysis of the RTD Alcoholic Beverages Market Revenue based on distribution channel, packaging type, and base type.

By base type, the RTD alcoholic beverages market is segmented into gin, vodka, rum, whiskey, and others. Of these, the rum segment will lead the market during the forecast period as various flavors easily infuse in rum. This will be followed by the vodka segment.

By packaging, the RTD alcoholic beverages market is segmented into cans and bottles. Of these, the bottle segment will have the largest share in the market during the forecast period for its high permeability.

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By distribution channel, the RTD alcoholic beverages market is segmented into non-store-based and store-based. The store-based is again segmented into specialty stores, supermarkets and hypermarkets, and others. Of these, the store-based segment will have the maximum share in the market during the forecast period owing to the availability of RTD alcoholic beverages in plenty in supermarkets & hypermarkets.

Regional Analysis

By region, the RTD Alcoholic Beverages Market Revenue Report covers the latest trends and growth opportunities across Europe, North America, the Asia Pacific, and the Rest of the World. Of these, Europe will lead the market during the forecast period for the emergence and presence of key market players, a significant rise in the production rate and sales, and high alcohol consumption.

The RTD alcoholic beverages market in the APAC region will grow at the highest CAGR and at the fastest pace for its increasing consumption by millennials.

The RTD alcoholic beverages market in North America will have a healthy growth during the forecast period. Various factors are propelling the growth of the RTD alcoholic beverages market in the region, such as high accessibility of RTD alcoholic beverages, the shift in consumer lifestyle, inclination towards luxury, and innovation & development of new products. These beverages are highly preferred for their low alcoholic content, which again is adding to its growth. The US followed by Canada are the chief contributors in this region.

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Market Overview

Growing health consciousness among the global populace is majorly driving the global Protein Bars Market Revenue. Protein bars are perceived to be a healthy food item among consumers. Moreover, increasing demand for convenience food has induced greater demand within the market. Due to fast-paced lifestyle, millennial and the working population highly prefer on-the-go food products such as protein bars which can also be an alternative to breakfast. Protein bars have attracted the attention of athletes and weight watchers as a post workout food.

A high number of the world’s populace is lactose intolerant or allergic to milk protein. Against the backdrop of increasing incidence rate of lactose intolerance and celiac diseases, plant-sourced protein has gained massive popularity. This has urged food manufacturers to introduce plant-based, dairy free protein bars which can cater to a broader consumer base.  Availability in various flavors, tastes, serving size and variants is a key factor driving growth within the market. Easy accessibility through supermarkets, hypermarkets, and retail stores and are marketed rigorously by a multitude of brands.

Competitive Landscape

Atkins Nutritionals, Inc. (U.S.), Lenny & Larry’s Incorporated (U.S.), Caveman Foods LLC (U.S.), Premier Nutrition (U.S.), Quest Nutrition (U.S.), Clif Bar & Company. (U.S.), General Mills Inc. (U.S.), Abbott Nutrition Manufacturing Inc. (U.S.), Mars Incorporated (U.S.), and Kellogg Co. (U.S.) are the key players in the Global Protein Bars Market Revenue.

Segmentation

Global Protein Bars Market Revenue has been segmented based on type, flavor, and distribution channel.

By type, the global protein bars market has been segmented into plant protein and animal protein. The plant protein segment is estimated to showcase rapid growth over the forecast period due to increasing demand for plant-based, gluten-free protein source to cater to the dietary needs of celiac patients.

By flavor, the global protein bars market has been segmented into chocolates, fruits, peanut butter, savory, spices, and others. The chocolate segment is dominating the market while the fruits and peanut butter segments are likely to showcase substantial growth over the forecast period.

By distribution channel, the global Protein Bars Market Revenue has been segmented into store based and non-store based. Protein bars are majorly sold through store-based distribution channel, especially wholesale and retail stores.

Regional Analysis

By region, the global protein bars market has been segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).

North America has commanded the topmost position in the global protein bars market. Majority of the market players are based in the US which coupled with high demand for convenience food in the region is fostering the growth of the North America market.

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North America is followed by Europe. Growing number of health-conscious population and higher affinity for functional food items are boosting the growth of the Europe market.

APAC is poised to showcase relatively faster growth rate as compared to other regional markets. Emerging trend of health & fitness and market players increasing their foothold in the region are factors supporting the growth of the market. China, Japan, and Australia are the key contributors to the APAC market.

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Market Overview

Global Herbicides Market Revenue is a major part of the agriculture sector and is likely to play a key role in the development of the agriculture sector in the coming years. Developments in the herbicides sector are likely to have a long-lasting impact on the agriculture sector, making the herbicides sector crucial. According to MRFR, the global herbicide market is expected to reach a revenue valuation of USD 43 billion by 2024.

Growing demand for food across the world has been the primary driver for the agriculture sector in recent years. As the population has grown around the world, it has resulted in a growing demand from the agriculture sector. As more people have become urbanized, they have come under the coverage provided by government systems designed to distribute agricultural products, leading to more demand from the agriculture sector. The growing infant population around the world is likely to ensure a steady growth in demand from the agriculture sector in the coming years. This is likely to reflect well on the global Herbicides Market Revenue in the coming years. The global herbicide market is highly dependent on the agriculture sector and is likely to be closely associated with the growth prospects of the agriculture sector in the coming years.

The increasing demand from governments to ensure the safety of agricultural products for consumers is likely to result in increasing product innovation in the herbicides market in the coming years. The safety of herbicides is likely to be a top topic for players in the herbicides market in the coming years. Government regulations to control the use of certain chemicals and substances in herbicides are likely to take on an important role in the coming years. Major players in the global herbicide market will have to orient toward government regulations in terms of which substances to use and which to avoid in the formulation and production of herbicides, which could lead to significant change in the global herbicide market over the forecast period.

Competitive Analysis

Leading players in the Global Herbicides Market Revenue include UPL, Kenvos Bio, ADAMA Ltd., Drexel Chemical Company, Nissan Chemical Industries Ltd., Nufarm Limited, Element Solutions Inc., Syngenta AG, PI Industries, Agrium Inc., Bayer AG, FMC Corporation, Monsanto Company, The Dow Chemical Company, and BASF SE.

In September 2019, Germany announced plans to phase out the use of glyphosate in herbicides starting from 2020. The country intends to be completely free from glyphosate herbicides by 2023. The strong presence of the herbicide market in Germany and Europe could result in many companies having to undertake significant product innovation in order to fit the regulations. Companies such as Bayer could also challenge these measures in court, leading to long legal cases.

Segmentation

Global Herbicides Market Revenue is segmented on the basis of active ingredient, category and mode of action, crop type, and region.

By active ingredient, the global herbicide market is segmented into glyphosate, 2,4-D, atrazine, diquat, and others.

By category, the global herbicide market is segmented into synthetic and bioherbicides.

By mode of action, the global herbicides market is segmented into selective and non-selective.

By crop type, the global herbicide market is segmented into pulses and oilseeds, cereals and grains, fruits and vegetables, and others.

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Regional Analysis

Asia Pacific is likely to dominate the global herbicide market in the coming years due to the growing industrialization and mechanization being brought about in the agriculture sector in the region. The growing demand for food in Asia Pacific has put a strain on traditional agricultural centers such as Punjab in India and Pakistan, Bangladesh, and China. This has resulted in an increasing demand for herbicides.

North America and Europe are also major markets in the global herbicide market.

South America is expected to exhibit the fastest growth in the herbicide market over the forecast period due to the growing agriculture sector in South America and the resultant increase in the use of herbicides in the region.

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Market Overview

Non-dairy frozen desserts are desserts made from plant based milk or lactose & casein free milk.  Different food safety organizations in different regions has specified particular guidelines related to processing, ingredient content, food safety, freezing, and packaging which plays key role in Non-dairy frozen desserts market. Innovation in product development and improving formulation of Non-dairy frozen desserts is likely to boast the market growth during forecast period.

Competitive Analysis

The major key players in Non-Non-Dairy Frozen Desserts Market Revenue are Hain Celestial   (U.S.), Cool Delight Desserts Ltd (U.K.), Daiya Foods Inc. (Canada), Arla Foods (Denmark), Sunopta Inc. (Canada), Archer Daniels Midland Company (U.S.) and Unilever (U.K.)

The demand for non-dairy frozen desserts has pushed manufacturers to innovate and develop new product line which are better in taste and offers various health benefits.

Market Forecast

Introduction of new innovative products with inclusion of healthy ingredients are supporting the growth of this market. Global Non-Non-Dairy Frozen Desserts Market Revenue is mainly driven by urbanization, changing consumption pattern and rising demand for convenience food. Rise in disposable income and consumer preferences for ‘on-the-go’ foods is driving the sales of enriched, sugar free and low calories non-dairy frozen dessert. Moreover vegan diet trend due to various health issue & ethical factors will play a key role to grow Non-dairy frozen desserts market at CAGR of 6% during forecast period.

Downstream Market Analysis

Globalization and urbanization are major driving force for this market, furthermore popularity of dairy free and sugar free non-dairy frozen desserts are also encouraging the growth of the market. Non-dairy frozen desserts market is hugely influenced by food safety organizations which strictly monitors ingredient labelling, manufacturing process and packaging of non-dairy frozen desserts which is changing the dynamics of the market. Non-dairy frozen dessert products such as frozen yogurt will be highest growing segment and vegan ice cream will dominate the market during the forecast period. The demand for products made from coconut milk & almond milk are estimated to be key driving force during the review period. Moreover, non-dairy desserts are mainly bought from supermarket and convenience store however busy lifestyle of people is supporting the sales of these products through online store which will change the future of overall retail network of non-dairy frozen desserts.

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Regional Analysis

Global Non-Non-Dairy Frozen Desserts Market Revenue is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Among this North America region has major market share followed by Asia Pacific and Europe. Increasing number of consumers suffering from lactose intolerant and rising disposable income in Asia Pacific region is driving the demand for non-dairy frozen desserts in that particular region. Rising number of health cognizant and the growing demand for vegan on-the-go products especially in China and India will be the crucial factor underlining the market growth.

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Market Synopsis

The changes in food pattern have led to a drastic increase in demand for non-dairy products. It is likely to gain more traction in the years to come. Market Research Future (MRFR)’s detailed assessment concludes that the global non-dairy cheese market is anticipated to expand at a moderate pace through the forecast period 2017 to 2023. Non-dairy cheese is made of plant-based sources such as rice milk, almond milk, soy milk, and coconut milk. The ongoing trend of veganism in the food & beverage industry is expected to propel the expansion of the market over the next couple of years. Urbanization, globalization, and changes in lifestyle are poised to support the trend in the upcoming years, thus, augmenting the non-dairy cheese market.

Rising awareness about lactose intolerance and increasing population of lactose intolerant consumers has motivated the leaders of the food industry to introduce plant-based products. Lactose intolerance can lead to health issues such as abdominal bloating, skin problems, diarrhea, sleep disturbances, etc. which is anticipated to generate more demand for non-dairy products in the nearby future. The trend is anticipated to gain more popularity over the next couple of years. This, in turn, is projected to favor the proliferation of the non-dairy cheese market across the assessment period. Also, the availability of non-dairy products is encouraging a considerable fraction of the population to shift towards it. The change in consumer behavior pattern is supported by rising animal rights activism. Thus, the non-dairy cheese market is expected to propel remarkable between 2017 and 2023.

Competitive Dashboard

The important players participating in the competitive landscape of the Non-Dairy Cheese Market Revenue are Galaxy Nutritional Foods, Inc. (U.S.), Daiya Foods Inc. (Canada), Violife Foods (Greece), Tofutti Brands Inc. (U.S.), Kite Hill Cheese (U.S.),Bute Island Foods Ltd (U.K.), and Follow Your Heart (U.S.).

Industry News

In May 2019, high street retailer Marks & Spencer has added vegan products to its portfolio which includes mozzarella sticks, mac & cheese bites, churro, and plant-based sausage rolls.

In April 2019, vegan food company, One Planet Pizza, has launched its range of frozen pizzas for the U.K. market.

In April 2019, Walmart Inc., an American multinational retail corporation, has added vegan cheese slices available in smoked Gouda, cheddar, and Swiss to its deli cases across Canada. The cheese is made by Nafsika’s Garden.

In April 2019, fast food chain White Castle has revealed its plan of finding the “perfect vegan cheese” for its meatless burger.

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Market Segmentation

By source, the global Non-Dairy Cheese Market Revenue has been segmented into soy milk, almond milk, coconut milk, rice milk, and others.

By application, the non-dairy cheese market is segmented into fast food snack, dips & sauces, bakery & confectionery and others.

By product type, Non-Dairy Cheese Market Revenue is segmented into mozzarella, parmesan, cheddar, cream cheese, and others.

By distribution channel, the non-dairy cheese market is segmented into store based and non-store based.

Regional Analysis

Global Non-Dairy Cheese Market Revenue, by Region, has been segmented into North America, Europe, Asia Pacific and the Rest of the world (RoW). Europe is forecasted to exercise dominance over the market during the projection period. Urbanization in conjunction with the explosion of the middle-income population is poised to expedite the growth pace of the non-dairy market in the region. Also, the growing trend of veganism is expected to influence the expansion of the market positively over the next couple of years. North America is likely to exhibit a similar pattern and grow significantly through the assessment period. The regional market is anticipated to strike a CAGR of 7.79% over the review period.

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Market Overview

Global Dietary Supplements Market Revenue in the age of personalized nutrition has compiled by reputed analysts who have sourced the raw data from multiple sources and verified it at trustworthy databases. Personalized nutrition is an upcoming trend in health and fitness due to genes reacting differently to different foods

Changing food habits and hectic lifestyles are major drivers touted to drive the global dietary supplements market during the forecast period. Massive leaps in food technologies as well as taste, aroma, color, and smell are likely to attract customers in procuring the products. In addition, launch of various gyms and celebrities advocating supplements to create awareness among the masses can augur well for the market.

Improved drug delivery and emphasis on individual customer treatment remains the focal point of major healthcare supplements manufacturers. Rise in funding for research and development, government support for nutrition, and the large healthcare expenditure for the welfare of consumers are other factors which can collectively drive market demand. Rise in cases of chronic diseases and sedentary lifestyle are other factors which can influence the market growth.

Competitive Landscape

Major players operational in the Global Dietary Supplements Market Revenue are Abbott Laboratories, Danisco, Natures Product Inc., Bayer AG, Herbalife International, Bactolac Pharmaceutical Inc., Amway (Nutrilite), Carlyle Group, Danone Nutricia, Nestlé Health Science, GlaxoSmithKline plc, Glanbia, Balchem Corporation, Archer Daniels Midland, Pfizer Inc., and others. These companies are deemed to follow mergers, acquisitions, and other methods to get a hang of the market.

Segmentation

Global Dietary Supplements Market Revenue Report for categorizes the data into segments of product category, dosage form, gender, application, and end-user.

By product category, the dietary supplements market comprises sports supplements, meal supplements, vitamins, minerals, herbs & botanicals, and others. Vitamins are the largest segment due to their high intake for health and well-being. The segment can exhibit a CAGR of 7.37% during the forecast period.

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By dosage form, the dietary supplements market in the age of personalized nutrition would include capsules, tablets, liquid, powder, and others. The tablet segment has a better chance of growth during the forecast period. It had close to 27.7% market share in 2016.

By gender, the market for dietary supplements market is segmented into female and male.  Both the segments are further divided by age groups, namely 0-18 group, 19-34 group, 35-54 group, and 55+ group. The female segment is predicted to display a CAGR of 7.39% over the assessment period due to women requiring vitamins and other nutritional supplements for sustaining their immunity levels.

By application, it is segmented into genetic predispositions, inherited diseases, lifestyle diseases, and others.

By end-user, it is segmented into home care, hospitals & clinics, and others.

Regional Analysis

The Middle East & Africa (MEA), Americas, Europe, and Asia Pacific (APAC) are regions considered during the compilation of the global dietary supplments in the age of personalized nutrition market report. Macro and micro economic factors are outlined in detail with respect to the players as well as economic ups and downs.

The Americas is expected to attain a massive tailwind due to consumption of dietary supplements and weight management programs. Rise in sports nutrition can drive the regional market growth. In the APAC region, the global dietary supplements market in the age of personalized nutrition is projected to thrive due to changing dietary patterns of consumers and robust growth of developing economies.

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Market Analysis

Global Potato Chips Market Revenue is witnessing a boom fueled by the changes in food patterns of the masses. Potato chips is one of the most easily available snacks in the market that appeals to consumers belonging to all age groups. Although the market has already penetrated the target segment, it is anticipated to attract a larger consumer base in the years to come. Also, the rising demand for convenience food in conjunction with a sedentary lifestyle is expected to augment the potato chips market over the next couple of years.

Flavor innovation is one of the key areas of focus for the market players. In order to capitalize on the market growth, the industry leaders are emphasizing on the introduction of new flavors to satiate the taste buds of the consumers and gain an edge over competitors. In addition, the emphasis is also placed on the packaging of the product. Investments are projected to increase in packaging for attracting the consumers. It is expected to have a positive influence on the revenue acceleration of the market participants over the next few years.

Competitive Dashboard

The prominent players studies in this MRFR report on Potato Chips Market Revenue are PepsiCo, Inc. (U.S.)., Diamond Foods, Inc. (U.S.), CALBEE, Inc. (Japan), Herr Foods Inc. (U.S.), Intersnack Group (Germany), Lorenz Bahlsen Snack-World Group (Germany), and Snyder’s-Lance (U.S.)

Industry News

In April 2019, Vlasic, an American brand for pickles, has announced the launch of a range of snacks including pickle flavored potato chips to Bigs Vlasic Dill Sunflower Seeds.

In March 2019, PrimoHoagies, a United States east coast-based, fast casual restaurant chain, revealed its plan of introducing Italian hoagie-flavored, potato chips by the end of this year.

In January 2019, Potato supplier Albert Bartlett has announced the launch of its branded chilled Rooster Homestyle Chips at UK retailer Sainsbury.

Market Segmentation

By flavor, the Potato Chips Market Revenue has been segmented into salt & pepper, barbecue, cheddar & sour cream, classic potato chips, cheese & onion, spicy jalapeno, and others. Among these, the salt & pepper segment is expected to maintain its dominant position over the assessment period.

By product type, Potato Chips Market Revenue has been segmented into salted, chili, plain, flavored, and others. The salted and chili segments are expected to dominate the growth trajectory of the market in Asia Pacific over the next couple of years.

By specialty food type, the global potato chips market has been segmented into gluten-free, GMO- free, vegetarian, kosher, organic, and others.

By distribution channel, the potato chips market has been segmented into supermarket/hypermarket, convenience store, e-commerce, and others.

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Regional Analysis

Global Potato Chips Market Revenue by Region, has been segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). North America is presently holding the maximum share of the market and is projected to retain its prominence over the assessment period. The efforts directed towards the production oh healthier potato chips are anticipated to augment the regional market in the upcoming years. Asia Pacific is poised to hold the second spot and maintain it through the forecast period. Increasing population in conjunction with rising purchasing power is expected to have a favourable impact on the growth of the potato chips market in the region.

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Market Analysis

Global Organic Energy Bar Market Revenue is set to grow at a stable 6.1% CAGR over the 2017-2023 forecast period, according to a new report from Market Research Future (MRFR). The global organic energy bar market is mainly driven by the growing demand for healthy foods among the urban demographic, which plays a key role in the growth of the market for snack items such as energy bars. Growing awareness about the health contribution of dietary items is likely to play a leading role in driving the global organic energy bar market over the forecast period.

The urban population in developed regions such as North America has become a major driver for the market for energy bars, snack bars, and other such items, as these items offer a convenient and fulfilling snack option for busy urban customers. As urban users often find it hard to make time to prepare meals in the traditional manner, the demand for snack items that don’t overload the blood sugar content and also provide nutritional content is growing rapidly. This is likely to remain a major driver for the global organic energy bar market over the forecast period.

The increasingly favourable social perception of organic foods is likely to be a major driver for the global organic energy bar market over the forecast period. While organic foods present no notable improvements in nutritional content and studies have shown that organic farming is not notably better for the environment than conventional farming, the popularity of organically grown produce has grown, especially among high-income demographics who are increasingly preferring foods with an organic label.

In March 2019, Clif Bar used the popular appeal of organic produce to challenge its competitor, Kind Healthy Snacks, to include organic products in its snacks. While Clif Bar has incorporated organic foods into its products, Kind Healthy Snacks doesn’t currently offer organic products. This sparked a social media feud between the two companies, showing the commercial importance of the popular appeal of organic foods.

Competitive Analysis

Leading players in the Global Organic Energy Bar Market Revenue include Clif Bar & Company, Kellogg Company, Quest Nutrition LLC, Quaker Oats Company, McKee Foods Corporation, Atkins Nutritionals Inc., and General Mills Inc.

Product innovation to produce multiple flavours and compositions energy bars is likely to be a key strategy for players in the global organic energy bar market over the forecast period, as there is not much scope for price-based competition in the market. The increasing consumer demographic with gluten intolerance could also play a key role in the growth of the global organic energy bar market over the forecast period, as companies catering to this demographic stands to steal a march on its competitors and make significant profits.

Segmentation

Global Organic Energy Bar Market Revenue has been segmented on the basis of ingredient into fruits, cereals, nuts and seeds, sweeteners, and others. The cereal segment dominates the global organic energy bar market at present. However, fruits are likely to rise in popularity in organic energy bars over the forecast period due to the increasing demand for fruit-based energy bars and the presence of simple sugars in fruits, which allows for smooth digestion and absorption into the body.

The organic energy bar market is segmented on the basis of certification into 95% certified and 100% certified.

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The Organic Energy Bar Market Revenue has been segmented on the basis of distribution channel into store-based and non-store based. Store-based distribution is likely to dominate the global organic energy bar market over the forecast period due to the ease of storing organic energy bars in modern urban shopping centres. The store-based distribution channel segment has been further sub-segmented into supermarkets and hypermarkets, convenience stores, specialist retailers, and others.

Regional Analysis

North America is likely to dominate the global organic energy bar market over the forecast period, followed by Europe, due to the growing demand for organic food in North America. Europe is also a major consumer of organic products and is likely to retain a major share in the global organic energy bar market over the forecast period. Asia Pacific is likely to exhibit the highest growth rate over the forecast period due to the growing demand for organic energy bars, which remain a novelty in many parts of the region. China is likely to dominate the Asia Pacific market over the forecast period.

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Market Overview

Extra Virgin Olive Oil has the highest concentration of natural vitamins and minerals than any other olive oil variety available which is the most crucial factor responsible for the growth of the global market. Market Research Future (MRFR) has affirmed in its latest report that the global Extra Virgin Olive Oil Market Revenue will grow at an exemplary pace during the forecast period 2020 to 2023.

The large-scale penetration of olive oil market has increased the awareness about health benefits associated with the use olive oil. Since extra virgin variety is the best quality of olive oil available in the market, its multiplying demand will generate significant profits over the next couple of years in the global market. The growing demand for extra virgin olive oil can be attributed to the process of extracting oil from olives as it is neither altered by heat nor treated with chemicals. The paradigm shift in consumer behaviour towards healthy lifestyle backed by an increase in disposable income is fueling growth in the market globally.

One of the key drivers of market expansion is the utilization of extra virgin olive oil as an ingredient in products such as hair oil, medicines, etc. The developments in products adding the essence of extra virgin olive oil have amplified the demand for extra virgin olive oil by the end-user industries and will catalyze the market expansion across the assessment period. However, adulteration of quality, high price, etc. are some of the factors that stand as barriers to the growth of the market.

Competitive Dashboard

MRFR has profiled the key players of the Extra Virgin Olive Oil Market Revenue in its report which includes Agro Sevilla Group (Spain), Star Fine Foods – Borges USA (U.S.), DEOLEO (Spain), Carapelli Firenze S.p.A (Italy), SALOV NORTH AMERICA CORP (U.S.), Grupo Ybarra Alimentación (Spain), and, SOVENA (Portugal). The players strive to gain prominence in the global market by implementing strategies such as product development, research & developments, strategic alliances, agreements, etc.

Latest Industry News

Moro has recently launched four products for expanding its portfolio of products. It has added Moro Intenso to its line of extra virgin oil products.  It is the most peppery and robust extra virgin olive oil in the Moro range and is developed in response to consumers’ growing appreciation for flavored extra virgin olive oils.

Market Segmentation

By type, global Extra Virgin Olive Oil Market Revenue has been segmented into cold pressed, flavored, virgin, blended, and, others. The virgin segment will captivate a substantial fraction of the market share and control. By application, the market is segmented into cooking, cosmetics, pharmaceutical, and, fuel. By distribution channel, the market has been segmented into store based, and, non-store based. The store based segment is further sub-segmented into supermarkets & hypermarkets, specialty stores, food processing industries, and, others.

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Regional Analysis

By region, the Extra Virgin Olive Oil Market Revenue is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Europe market will lead the global market due to excessive production and consumption of extra virgin olive oil in the region. Spain is the largest producer of extra virgin olive oil and will continue its dominance throughout the projection period. Apart from Spain, Italy will also accelerate revenue generation in the region. North America market will exhibit growth across the assessment period owing to the adoption of extra virgin oil as a key ingredient for expansion of product portfolios across various industry verticals. Asia Pacific region holds the highest potential for growth and will grow at a robust CAGR over the next few years. The RoW region is expected to show developments in the market due to increased demand.

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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.