According to the latest report by IMARC Group, titled "United States Avocado Oil Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the United States avocado oil market size reached US$ 222.3 Million in 2022. Avocado oil is a rich and nutritious edible oil extracted from the fruit of the Persea Americana avocado tree. It is obtained through a cold-pressing process, which preserves its natural goodness and ensures a high-quality product. It is rich in oleic acid, vitamin E, monosaturated fat, lutein carotenoid, and other essential nutrients. It aids in improving eye and heart health, lowering cholesterol, reducing blood pressure (BP), and minimizing symptoms of osteoarthritis. It also absorbs fat-soluble vitamins, moisturizes, and enhances skin tone, and prevents wrinkles, acne, and blemishes.
United States Avocado Oil Market Trends:
The existence of numerous commercial spaces, such as cafes, restaurants, and quick-service restaurants (QSRs), represents one of the major factors driving the adoption of avocado oil in cooking, baking, and salad dressings across the United States. Moreover, the increasing consumption of ready to eat (RTE) food products on account of the considerable working population and busy lifestyles is augmenting the market growth in the country. In addition, the growing health consciousness among individuals and the increasing adoption of vegetarian and plant-based diets are influencing the market positively. Apart from this, avocado oil is high in monounsaturated fats, antioxidants, and vitamins. As a result, its consumption is increasing in the US. Furthermore, avocado oil finds application in skincare and cosmetic products like lotions, creams, balms, serums, shampoos, conditioners, and hair masks to hydrate and rejuvenate the skin and improve hair texture and prevent breakage. This, coupled with the easy accessibility of avocado oil-based skincare and cosmetic products via online websites, is strengthening the growth of the market in the country. Looking forward, the market value is projected to reach US$ 316.1 Million by 2028, expanding at a CAGR of 6.12% during 2023-2028.
- On the basis of the product type, the market has been categorized into extra-virgin oil, refined oil, blends, and others. Presently, extra-virgin oil holds the largest market share.
- Based on the application, the market has been segregated into food and beverages, cosmetics, pharmaceuticals, and others. Food and beverages hold the biggest market share.
- On the basis of the distribution channel, the market has been bifurcated into business-to-business and business-to-consumer (supermarkets/hypermarkets, convenience stores, online stores, and others). Business-to-business currently dominates the market.
- Region wise, the market has been divided into the Northeast, Midwest, South, and West.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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