The latest report by IMARC Group, titled “United States Avocado Oil Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the United States avocado oil market is anticipated to exhibit a CAGR of 6.3% during the forecast period (2022-2027). Avocado oil is a natural edible oil derived from the pulp of the avocado fruit. It is rich in oleic acid, monosaturated fat, lutein carotenoid, beta carotene, protein, potassium, lecithin, vitamins A, D and E and other essential minerals. It aids in enhancing cardiovascular and eye health, reducing cholesterol and blood pressure levels, and minimizing symptoms of osteoarthritis. It also assists in absorbing fat-soluble vitamins, moisturizing and improving skin and preventing wrinkles, acne, and blemishes. As a result, avocado oil is gaining immense traction across the United States as a healthy cooking oil due to its mild taste, rich nutritional profile and high smoke point.
United States Avocado Oil Market Trends:
In the United States, the shifting consumer preferences toward vegetarian diets represent the primary factor driving the market growth. Moreover, the growing health consciousness among the masses owing to the rising incidences of lifestyle diseases, such as obesity, diabetes, and heart disorders, has augmented the product demand. In addition, with the surging awareness about its health benefits, avocado oil is gaining popularity as an alternative to butter and vegetable oil containing high concentrations of saturated fats. Along with this, the increasing adoption of dietary supplements for weight loss and enhanced digestion has propelled market growth. Besides this, avocado oil helps soothe itchiness, heals chapped skin, cures acne, replenishes dryness, prevents blemishes, eliminates signs of aging, boosts collagen metabolism, and protects against ultraviolet (UV) damage when applied on the skin. Consequently, due to its excellent antioxidant and anti-inflammatory properties, the emerging product applications across the personal care and cosmetics industry have catalyzed market growth. Furthermore, heavy investments in research and development (R&D) activities by key players and ongoing advancements in oil refining processes are contributing to the market growth. Other factors, including the rapid expansion in the food and beverage (F&B) sector, escalating demand for organic and natural skin care products, improving lifestyles, and easy product availability via online and offline channels, are also creating a favorable outlook for the market.
- Based on the product type, the market has been classified into extra virgin oil, refined oil, blends, and others.
- On the basis of the application, the market has been divided into food and beverages, cosmetics, pharmaceuticals, and others.
- The market has been bifurcated based on the distribution channel into business-to-business and business-to-consumer (supermarkets/hypermarkets, convenience stores, online stores, and others).
- Region-wise, the market has been segregated into Northeast, Midwest, South, and West.
- The competitive landscape of the market has also been analyzed, along with detailed profiles of the key players operating in the industry.
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