Olive
oil gains popularity on health claims
and Mediterranean tastes
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6/19/2006
- The health
benefits associated with olive oil together with an increased interest
in Mediterranean foods have contributed to the growth of an
¡°invigorated¡± market for the product in the US, according to a
new report.
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The
nation's olive oil market, which grew at a rate of around 8 percent per
year between 2001 and 2005, is expected to reach $968 million in 2006,
up from $894 million in 2005, says the new study from Packaged Facts.
And by 2010 it is forecast
to surpass $1.3bn.
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Olive
oil is a key component of the Mediterranean diet and thought to be
responsible for the longevity of southern European populations and their
low rates of heart disease.
During
the last 20 years, hundreds of studies have investigated the health
benefits of the Mediterranean diet. But last year saw some breakthroughs
in pinpointing why olive oil has a protective action against heart
disease and cancer, making an even stronger case for consuming more
olive oil.
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In
2004, the Food and Drug Administration (FDA) approved a health claim for
olive oil, for its potential to reduce coronary heart disease (CHD). But
the agency remained cautious, qualifying this by noting that any
benefits could only be attained if people did not increase the total
number of calories consumed daily.
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The
FDA had said in a statement that "there is limited but not
conclusive evidence that suggests that consumers may reduce their risk
of CHD if they consume monounsaturated fat from olive oil and olive
oil-containing foods in place of foods high in saturated fat".
According
to the latest report, entitled Olive Oil in the US, demand for olive oil
has soared on the back of these health claims. In 2004 alone,
consumption of olive oil was up 16% from 2001, when Americans consumed
212,102 metric tons.
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¡°Along
with health, flavor has become a passion with American olive oil
connoisseurs. Olive oil tasting bars have been gaining in popularity
since 2001, and unique olive oil boutiques, which sell olives and olive
oils exclusively, are cropping up all over the country as American
palates become more familiar with the flavor intricacies of various
regional oils,¡± said the report.
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¡°Origin/region
oils and estate oils harvested and extracted on individual farms are
gaining momentum as a multitude of high end olive oils appear on
supermarket shelves, gourmet shops, and in menu items throughout the
country,¡± said Don Montuori, of Packaged Facts.
¡°Consumers
are falling in love with the oil that is ¡®good for you' and that is
paying off for the big marketers as well as private labels in this
country.¡±
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Remark:
China is like the last USA, so it is optimal time to focus on
China!!
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