The global avocado oil market reached a value of US$ 484.6 Million in 2020. Avocado oil is the natural oil extracted from avocado's pulp. Around 70% of avocado oil is made up of heart-healthy oleic acid, a monounsaturated fatty acid of omega-9. Avocado is high in fiber, potassium, rich in texture and has good flavor. Because of its health benefits, the health-conscious population represents a major consumer base for avocado oil, especially those who are struggling with obesity and heart problems. Apart from the food and beverage industry, avocado oil also finds wide applications in pharmaceutical and cosmetic products. It has moisturizing, antioxidant, emollient and toning effect that keeps the skin glowing and helps in reducing blemishes, dry skin, wrinkles and acne.
The avocado oil industry is currently exhibiting healthy growth rates. The market has been primarily driven by the growing awareness of the nutritional and health benefits associated with avocado oil. Apart from this, driven by an increasing prevalence of various lifestyle disorders such as diabetes, obesity, cardiovascular disorders, etc. resulting from an increasing consumption of high-fat butter and oils is further expected to increase the demand for healthy oils such as avocado oil. Moreover, rising demand of avocado oil in the healthcare industry is also expected to create a positive impact on the growth of the market. Looking forward, IMARC Group expects the global avocado oil market to exhibit moderate growth during 2021-2026.
Market Breakup by Product Type:
The competitive landscape of the global avocado oil market has also been analyzed. Some of the leading players operating in the market are:
Key Questions Answered in This Report:
The global avocado oil market reached a value of US$ 484.6 Million in 2020.
The growing awareness of the nutritional and health benefits associated with the consumption of avocado oil represent the primary market drivers.
One of the major market trends is the growing demand for organic and minimally processed avocado oil among consumers. Consequently, manufacturers are offering cold-pressed variants with minimal nutrient loss during extraction.
The outbreak of the coronavirus disease (COVID-19) has led to a slowdown in the production and demand for avocado oil, which has negatively impacted the market.
At present, extra virgin oil is the most preferred product type. Other major segments are refined oil and blends.
The majority of the avocado oil is distributed through business to business channel, followed by the business to consumer channels, which include supermarkets/hypermarkets, convenience stores, online and others.
On the basis of the application, the market has been segregated into food and beverages, cosmetics, pharmaceuticals and others. Amongst these, cosmetics hold the largest market share.
Region-wise, North America exhibits a clear dominance in the market. Other major regions include Europe, Asia Pacific, Latin America, and Middle East and Africa.
The leading players operating in the industry are Olivado Group, Sesajal S.A. de C.V., Grupo Industrial Batellero S.A. De C.V., The Village Press, Spectrum Organic Products, LLC, Bella Vado Avocado Oil, and Chosen Foods LLC.
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