Spanish olive oil major Deoleo has identified India as one of its two priority global markets, alongside the US, as it aims to double its India business over the next five to six years. Although India contributes just 5–7% of the company’s global revenue, it generates more than 15% of worldwide profitability, making it a strategically important market.
The maker of Figaro olive oil currently holds over 40% of India’s olive oil market, valued at around ₹880 crore. The category has grown at approximately 8% annually over the past three years, with Deoleo expecting growth to accelerate to 10–15% CAGR over the next seven to eight years, driven by rising health awareness and premium food consumption.
According to Vishal Sarin, General Manager, Deoleo India, Indian consumers are increasingly becoming value-conscious rather than purely price-conscious, with a greater willingness to pay for products offering superior quality and health benefits.
To capitalise on this trend, Deoleo is focusing on expanding consumer awareness, increasing product adoption and strengthening market accessibility. The company also plans to engage younger consumers by promoting olive oil for a wider range of cooking applications.
Distribution remains central to the strategy. Deoleo aims to expand its retail presence from around 250,000 outlets to 500,000 over the next four years, including the addition of about 50,000 stores during 2026.
The company is also benefiting from rapid changes in online shopping behaviour. Quick-commerce platforms now contribute nearly two-thirds of Deoleo’s online revenue, overtaking traditional e-commerce marketplaces. Overall e-commerce sales are growing by 40–50% annually, while demand from Tier I and Tier II cities is rising at more than twice the pace of metro markets.
Deoleo imports bulk olive oil from Spain while packaging products locally under its “Make in India” model. With production capacity already operating at around 80%, the company is evaluating additional co-packing facilities to support future growth. Rather than launching new brands, Deoleo plans to strengthen its existing portfolio, with Figaro remaining its flagship brand alongside Bertolli and Figaro Baby.