DUBLIN–(BUSINESS WIRE)–The Report “Avocado Oil Market, Size, Global Forecast 2022-2027, Industry Trends, Share, Growth, Overview, COVID-19 Impact, Company Analysis” has been added. at from ResearchAndMarkets.com offer.
The global avocado oil market is expected to reach US$10.06 billion in 2027, from US$6.66 billion in 2021, expanding with a CAGR of 7.12% during 2021-2027.
Hass is primarily grown in New Zealand, producing a high yield with few post-harvest issues. Also, avocados are grown for domestic use or exported to the fresh fruit market. Avocado oil is a natural oil made from the pulp of an avocado. Avocado is high in protein and potassium and has a pleasant flavor. Avocado oil also contains over 70% heart-healthy oleic acid, an omega-9 monounsaturated fatty acid.
Global avocado oil market dynamics
Consumers’ desire for a healthy lifestyle and good health has led to an increase in organic food products in their daily diet. The increased demand for organic foods has resulted from an increased awareness of healthy living through internet access to endless information. Avocado oil also helps lower cholesterol and improve heart rate.
Avocado oil substitutes, such as sunflower oil and olive oil, are now widely available and cheaper, which is expected to limit market expansion. In addition, the market is expected to be penalized by the increasing appearance of counterfeit products on supermarket shelves.
Impact of COVID-19 on the Global Avocado Oil Industry
Despite a rapid drop in global economic activity and international transportation, the global supply and demand for avocados has also experienced disruptions and contractions related to the COVID-19 pandemic on various transmission routes thanks to a rate slow growing.
In addition, avocados have been severely impacted by slow market demand growth due to shrinking transportation during pandemic-induced shutdowns, which have adversely affected product quality and reduced weight and value of shipments received by importing countries.
Type-Based Overviews of Avocado Oil Market
Extra virgin avocado oil, refined avocado oil, and avocado oil blends are the three types of avocado oil. Over the projection period, extra virgin oil is expected to dominate. Due to the current trend of applying natural oils to the skin, extra virgin oil is in high demand.
Moreover, extra virgin oil provides greater quality assurance, which becomes the main reason. Due to the exceptional quality of the virgin oil, the demand has increased considerably. Moreover, according to our estimation, refined oil is gaining significant market growth due to high vitamin E concentration and low cost, which is widely used in cosmetics and personal care.
The edible oil segment accounted for a dominant share
The edible oil segment held a dominant position in the global avocado oil market. Apart from this, cosmetics are one of the proposed uses of avocado oil. Avocado oil contains antioxidants, anti-inflammatories, emollients and toning ingredients that help soothe itchy skin, repair cracked skin, restore dry skin, moisturize and hydrate skin and to protect the skin from injury.
They also make the skin glow and reduce the appearance of blemishes, dry skin, wrinkles and acne. Additionally, avocado oil serves as a carrier for other limited penetration chemicals. This characteristic makes it useful in tissue or nourishing creams, all-purpose creams, massage creams, massage oils and different formulations that require lubrication.
The online store segment is expected to register the fastest growth
The hypermarkets and supermarkets category accounted for a significant share of the global avocado oil market. At the same time, online retailing is estimated to grow at the fastest rate throughout the forecast period. For years, the world’s population has grown along with the number of cell phones available for purchase on the Internet.
Fast services, home delivery, a variety of secure payment options and attractive discounts have contributed to the global boom in online stores. Avocado oil is also purchased online by consumers because it saves time and is convenient.
The Asia-Pacific region is the fastest growing market in the world
Asia-Pacific is the fastest growing region in the world for the avocado oil market. Growing consumer awareness of the nutritional benefits of avocado oil and an evolving customer demand for oil that is low in fat and cholesterol is propelling the avocado oil market in the APAC region.
The avocado oil market in APAC is also likely to be driven by the upward trend in herbal personal care and cosmetic products. Also, the significant increase in health problems such as chronic disease and heart disease due to the consumption of butter and high-fat oils is increasing the demand for healthy oils like avocado oil.
The global avocado oil market is moderately concentrated, with major players such as Spectrum Organic Products LLC, Bella Vado Inc., La Tourangelle, Madana Inc, and CalPure Foods Inc.
These major players are also aggressively pursuing acquisitions and mergers to strengthen their positions and effect meaningful change to ensure their long-term success.
Moreover, the competitive intensity of this industry is expected to increase in the coming years if world-renowned companies discover and come up with nutritionally adequate and environmentally friendly alternatives that are both affordable and acceptable. At the same time, they continuously try to keep up with market trends in the avocado oil industry to develop new products.
Main topics covered:
2. Research and methodology
3. Executive Summary
4. Market dynamics
4.1 Drivers of growth
5. Avocado Oil Market
6. Avocado Oil Volume
7. Market Share – Analysis of Avocado Oil
7.1 By product
7.2 By request
7.3 By distribution channel
7.4 By region
8. Product – Avocado Oil Market
8.1 Extra virgin oil
8.2 Refined oil
9. Application – Avocado Oil Market
9.1 Edible oil
9.3 Pharmaceuticals and Nutraceuticals
10. Distribution Channel – Avocado Oil Market
10.1 Hypermarket and Supermarket
10.2 Specialized store
10.4 Online retail
11. Region – Avocado Oil Market
11.3 Europe, MEA
12. Analysis of Key Players
12.1 Company Overview
12.2 Recent Development
12.3 Product Portfolio
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