The Latin America, Middle East and Africa Olive Oil Market would witness market growth of 7.1% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 84.5 Kilo Tonnes, showcasing a growth of 9.0% (2023-2030).
Innovation in oil production has embraced precision agriculture techniques. From advanced irrigation systems to drone-assisted monitoring, precision agriculture optimizes resource usage, enhances yield, and minimizes environmental impact. Sustainable practices, including water conservation and organic farming, are at the forefront of these innovations. Precision agriculture relies on sensor technologies and drones for monitoring various aspects of olive groves.
Furthermore, the traditional oil extraction process has undergone technological transformations. Cutting-edge technologies, such as centrifugation and continuous processing methods, have improved efficiency, reduced processing times, and enhanced the overall quality of the extracted oils. These innovations align with the industry's commitment to excellence.
As per the data from the International Trade Administration, Brazil is the largest economy in Latin America and continues to experience rapid e-commerce growth of 14.3%, which should exceed US$200 billion by 2026. Therefore, the rising e-commerce trends in LAMEA will assist in the expansion of the regional market.
The Brazil market dominated the LAMEA Olive Oil Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $415.8 Million by 2030. The Argentina market is showcasing a CAGR of 8.3% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 6.8% during (2023 - 2030).
Free Valuable Insights: The Worldwide Olive Oil Market is Projected to reach USD 26.5 billion by 2030, at a CAGR of 5.3%
Based on Type, the market is segmented into Virgin, Refined, Extra Virgin and Others. Based on Application, the market is segmented into Food and Beverage, Personal Care & Cosmetics, Pharmaceuticals, and Others. Based on Distribution Channel, the market is segmented into Hypermarkets/Supermarkets, Online and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Distribution Channel (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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