"Overview of Avocado Oil Market"
"Avocado Oil Market Is Expected To Witness A Value Of US$ 463 Mn In 2018. Avocado Oil Market Is Expected to Witness a CAGR Of ~8.2% During The Forecast Period (2019-2027)."
The demand for avocado oil is expected to increase over the forecast period due to its extensive use in cooking. In addition to this, the beauty and cosmetics industry still uses avocado oil as an ingredient in a number of products, primarily to minimize blemishes, dry skin, wrinkles, and acne. Avocado oil is also used to treat major health problems such as coronary heart disease and cholesterol. Overall, the market for avocado oil has set foot in three major industries, which are expected to fuel demand for avocado oil in the future.
Avocado is high in fiber, potassium, soft in texture and has a good taste. Because of its health benefits, the health-conscious population is a major consumer of avocado oil, especially those dealing with obesity and heart problems. In addition, the amount of avocado oil produced is projected to be more than 160,000 metric tons in 2019 and demand is expected to increase in the forecast period. This rise is largely driven by its rich nutrient content, increased knowledge of the benefits of the food among consumers and health experts alike, and increased demand for avocado oil in cosmetics and personal care products.
Food and Beverages Segment held a significant share of xx % in the global avocado oil market in 2018 and expected to witness a CAGR of xx % during the forecast period 2019-2027.
Higher consumer preference for a healthy lifestyle has driven the use of healthy food items and ingredients. Lately, consumers have become more mindful of their diet and food intake. In addition, the rate of obesity has also risen since 2018. In order to address these health issues, individuals are increasing their intake of nutritious vegetables and fruits, such as cholesterol-lowering avocados and triglycerides, which are expected to support the market for avocado oil.
Blends Segment held the significant share of xx % in the global avocado oil market in 2018 and expected to witness a CAGR of xx % during the forecast period 2019-2027.
Avocado oils are marginally expensive, especially in developing countries, which are anticipated to hinder the adoption of avocado products. A major trend identified is the combination of flavoured avocado oil with natural edible oils, including almond oil, olive oil, safflower oil, coconut oil, grape seed oil, and shea butter. The mixture is blended in such a way that the characteristics of each oil complements with each other and adds to the taste and benefits of the oil.
Latin America is expected to account for a significant share of xx% during the forecast period (2019-2027)
Increasing awareness of a healthy lifestyle has boosted demand and consumption of avocado oil in Latin America. In the last couple of years, Latin America has seen a high rate of health problems such as heart disease, chronic diseases, and related cardiovascular problems due to high fat intake and unhealthy lifestyles. With growing awareness of the benefits of avocado oil, its use has spread throughout the country. In Latin America, the use of avocado oil is widely observed in Mexico, which is considered to be the largest producer and supplier of avocados.
In addition to this, the market for avocado oil in North America has also risen at a higher rate over the last few years. Demand for Avocado Oil is expected to witness high growth in the coming years, followed by the Asia Pacific, excluding Japan.
Manufacturers involved in the production of avocado oil are focused on various strategies such as acquisitions and strategic alliances and product innovation. For example, Costa Group acquired Lankester to extend its product line and expand its presence in untapped regions. The key players operating in the global avocado oil market include Bella Vado, Olivado, SESAJAL S.A. C.V., CHOSEN FOODS LLC, Avocado Global Pte Ltd, Avoolio Oil De Mexico, BIO Planète, Kevala, Village Press, Tron Hermanos and La Tourangelle.
Avocado Oil Market Segmentation:
By Product Type:
- Extra Virgin Oil
- Refined Oil
- Food and Beverages
By Distribution Channel:
- Business to Business
- Business to Consumer
- Supermarkets / Hypermarkets
- Convenience Stores
- Online Stores
- North America
- Latin America
- Middle East and Africa