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Olive oil has a long history of medicinal, magical, and even fiduciary purpose. The Greek poet Homer referred to it as “liquid gold.” Today’s olive oils still retain some of their historical mystique with clinically proven health benefits, exotic flavor infusions, and a variety of applications. Many believe that this renewed interest in olive oils will follow a parallel path to those forged by wine, coffee and most recently chocolate.
The market for olive oil in U.S. stood at $894.1 million in 2005, indicating a growth of 10.1% over 2004. However unit sales have grown at a lower pace and the market has been impacted by rising prices of olive oil. The U.S. market is heavily dependent on imports from Europe and the strengthening of Euro against the Dollar has contributed largely to the increase in prices.
Factors such as healthy fat content, influence of the Mediterranean diet, olive oil’s premium image, flavor innovations and a variety of other applications have established olive oil as a natural choice in the U.S. consumer’s minds and diets. Major marketers generate consumer interest in olive oil through programs and events, olive oil tasting bars and also by introducing new products with innovative flavors.
This report utilizes qualitative and quantitative research and analysis to provide complete coverage of current market trends, market size and composition, consumer preferences, marketing dynamics, international trade data including imports and exports, and profiles of major market players.
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