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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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