Avocado Oil Market is expected to grow at 5.3% CAGR during the forecast period 2019 to 2025
Published | March 2019
According to BlueWeave Consulting, The Global Avocado Oil Market was worth US$ 587 million in 2018, expected to register a CAGR of 5.3% in the forecast period of 2019-2025.
Increasing health awareness among the consumer due to the high prevalence of chronic diseases and heart-related disorders owing to improper diet and lifestyle is expected to boost the consumption of avocado oil. Avocado oil is extracted from the pulp of avocado fruit, which is originated in Central America and Mexico.
Avocado oils have multiple benefits such as High protein, antioxidant, good fats, soluble and insoluble fibers, various minerals, and vitamins. Moreover, advances in medical science and innovations in the nutritional value of food have made it possible to produce essential oils that offer health benefits and are used in treating several health problems. The growing popularity of avocado oil has upsurge its demand across various regions around the globe. In addition, advanced technologies are being employed by the manufacturers to improve taste, color, flavor, and nutritional values of processed foods, which support the industrial growth prospect.
Increasing consumer demand for a variety of packaged foods and beverages are mainly contributing to the growth of the food industry, where avocado Oil being one of the major ingredients. However, the high consumption of processed food products and beverages is expected to trigger the growth of the global avocado oil market in the future. In addition, manufacturers are highly focusing on R & D in the avocado oil extraction process to improve the oil quality, which is likely to boost the market of avocado oil at the global level.
Global Avocado Oil Market- Product Analysis
Based on the Product Type, global avocado oil is segmented as Crude Oil, Virgin Oil, Extra Virgin Oil, and Refined Oil. Extra Virgin Avocado oil segment is the fastest growing over the forecast years owing to extraction from superior quality avocado fruits at low temperatures without the addition of any chemical additives. Some beneficial properties of extra virgin avocado oils, such as an optimum level of antioxidants and good fatty acids, are the primary reasons for health experts to recommend its consumption. Furthermore, the availability of avocado round the year added a competitive advantage to sustain its demand all year. Moreover, the growth can be estimated due to its usage in spreading, emulsifying, drizzling, dipping, and other food processes.
Global Avocado Oil Market- Application Analysis
Avocado oil market is segmented in food processing, personal care products, medicinal products, and others. The food and beverage application segment accounted for a dominant position in fast years and is expected to maintain its dominance over the forecast period. It is used as an ingredient in cooking oil due to the high level of mono-unsaturated fat (oleic acid) and smaller amounts of polyunsaturated fat. It is also used to make edible oil, cosmetics & skincare products, owing to high vitamin E and K content, aiding in skin problems like acne, dry skin, wrinkles, and heel cracks.
Global Avocado Oil Market- Distribution Channel Analysis
Based on the distribution Channel, the avocado oil market is segmented into Hypermarkets, Supermarkets, Specialty Stores, Online Stores, and Others. The retail segment is dominating the avocado distribution channel and is expected to lead the global avocado oil market. Moreover, Manufacturers are focusing on promoting their product portfolio through the distribution channel. Retail stores attract consumers by giving discounts and explaining its benefits. In addition, increasing the number of sales outlets fuel the demand for avocado oil globally.
Browse Detailed Analysis with TOC, “Global Avocado Oil Market, By Type (Crude Oil, Virgin Oil, Extra Virgin Oil, Refined Oil), By Varieties(Hass, Pinkerton, Gwen, Lamb Hass, Bacon, Fuertes &Others)By Application (Food & Beverages, Beauty and Cosmetics, Pharmaceuticals), By Distribution Channel (Retail Stores, Specialty Stores, and Online Stores), By Region (North America, Latin America , Asia Pacific (APAC), Europe, Middle East & Africa), Size and Forecast, 2015-2025”
Global Avocado Oil Market- Regional Analysis
Based on the region, the global avocado oil market is segmented into North America, Latin America, Asia Pacific (APAC), Europe, and Middle East & Africa. North America has the leading consumption of avocado oil, owing to health aids-related to the consumption of avocado oil. The demand in North America is expanding at a higher rate for a couple of years, the reason being associated with health disorders and the prevalence of heart diseases. The growing awareness among consumers about the healthy lifestyle and healthy eating contributes to the growth of the avocado oil market size in this region.
Global Avocado Oil Market: Competitive Landscape
The key players operating in the global avocado oil market are Sesajal S.A. de C.V., Olivado, Grupo Industrial Batellero S.A. de C.V, YASIN, Tron Hermanos SA de CV, The Village Press, Bella Vado, Chosen Foods LLC, and Storino’s Quality Products. Key players involved in the production of avocado oil are adopting various expansion strategies to increase their foothold in the market and by expanding their product lines. For example, Chosen Foods, a San Diego based company, has been acquired by Mexican company Sesajal S.A. de C.V., a major supplier of avocado oil. With the acquisition, Sesajal S.A. de C.V has gained the penetration into foreign markets, and products from Chosen Foods are largely sold across the United States and Canada, making it a beneficial target market for avocado oil over the forecast period.