The ‘Global Avocado Oil Market Size, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global avocado oil market, assessing the market on the basis of its segments like product type, application, distribution channel, and major regions.
Avocado Oil Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 6.9%
The global avocado oil market is expected to register growth during the forecast period on account of the increasing demand for essential oils. Such essential oils are employed in various personal care and therapeutic sectors owing to their skin and health benefits. This is expected to push forward the market demand for avocado oil as it is a highly recommended oil due to the presence of vitamins, omega fats, and rich fibre.
Avocado oil is often used on the skin like a body lotion and is likely to be found in various skincare and cosmetics products. This oil is usually bleached and refined when manufactured for external application giving it a pale-yellow colour. This is further expected to positively influence the avocado oil market demand among consumers over the upcoming years globally. The increasing health consciousness among consumers along with the growing adoption of healthy lifestyles is likely to drive the market growth of avocado oil.
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Avocado Oil Industry Definition and Major Segments
Avocado oil is known as oil milled from the avocado fruit that has a mild taste along with a high smoke point which makes it a standard food oil or cooking oil and can also be consumed raw. It is similar to olive oil in terms of nutritional value and utility. Due to its texture, it is used in cosmetics and personal care products. Same as extra virgin olive oil, cold-pressed avocado oil is raw and maintains some of the colour and flavour of the fruit, leaving behind its green colour.
Based on product type, the market is segmented into:
• Extra Virgin Oil
• Refined Oil
By application, the market is classified into:
• Food and Beverages
On the basis of distribution channel, the market is categorised into:
- Business to Business
- Business to Consumer
- Convenience Stores
- Online Stores
Based on region, the market is divided into:
• North America
• Latin America
• Asia Pacific
• Middle East and Africa
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Avocado Oil Market Trends
With the increasing popularity of the health benefits provided by avocados such as relief for chronic conditions as suggested by health experts, the market demand for avocado oil is likely to boost over the coming years. The increase in initiatives taken by various government bodies for the advancement of natural products is likely to be a game-changer for the market growth of avocado oil.
Geographically, the North America region is anticipated to drive the avocado oil market growth on account of the surging awareness regarding healthy lifestyles. The rising interest in reducing consumption of harmful fats which have been associated with several conditions like obesity and diabetes, especially in the United States, is likely to propel the avocado oil market growth across the region. The United States is also anticipated to hold substantial growth in the market of avocado oil due to the presence of key players like Olivado Group and Spectrum Organics Products and such players are constantly expanding their ranges of products.
Meanwhile, the Asia Pacific region is anticipated to gain momentum over the coming years in the avocado oil market growth on account of the high production of avocados in countries like China and Indonesia. Going further, China is expected to witness robust growth in the market of avocado oil on account of the easy accessibility of raw materials and the growing plantations in Yunnan, Guangdong, and Fujian districts for large-scale avocados.
Key Market Players
The major players in the global avocado oil market report are Olivado Group, Grupo Industrial Batellero, The Village Press, and Spectrum Organics, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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