The global food fats and oils market is expected to surpass $270 billion dollars by 2023, with a compound annual growth rate (CAGR) of 5.2% during the forecast period (2018-2023). This statistic, from a recent report by Mordor Intelligence, Inc., demonstrates that, while such a big industry wheel takes a long time to turn, it covers a lot of ground. Recent changes, geared to address health and sustainability, have thus had a huge effect on not only the industry itself but every business it touches.
According to proponents of the Mediterranean diet, avocados, olive and canola oils, nuts, and fish rich in omega-3s are your friends and should be part of a healthy, well-balanced diet. In fact, a meta-analysis of more than 1.5 million healthy adults demonstrated that following a Mediterranean diet was associated with a reduced risk of cardiovascular mortality as well as overall mortality.
Olive oil, the staple of the Mediterranean Diet, is enjoying another wave of close attention. As olives commonly grow in the same regions where wine grapes are cultivated, it’s no surprise that they also have “terroir.”
With the similarly healthy avocado and grapeseed oils providing strong competition lately, it’s reasonable to expect olive oil marketers will make greater efforts to take advantage of the terroir factor in the near future.
It would be no surprise to begin seeing products marketed as having been specifically “made with Tunisian olive oil,” for example.
Olive oil continues to be a mainstay in a number of food products. Although the industry has been beset by counterfeiting and purity issues, reliable ingredient suppliers can ensure pure, high-performing and flavorful sources of olive oil.
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