Avocado Oil Market Forecast 2021 - 2026
Avocado Oil Market size is estimated to reach $7,851 million by 2026, growing at a CAGR of 5.7% over 2021-2026. Avocado oil is derived from the Persea Americana fruit and is used as an edible oil for cooking, cosmetics, and lubrication due to its moisturizing and regenerating qualities. Avocados, often known as butter peas or vegetable butter, are a Central American fruit. Avocado oil has a high potassium content, as well as vitamins A, D, and E, antioxidants, anti-inflammatory agent, fatty acid, and monounsaturated fats. Furthermore, it is used as a flavor enhancer and a cooking oil supplement in a variety of recipes. Additional health consciousness among individuals, awareness of the nutritional benefits of avocado oil, changing customer preferences, and increased avocado oil applications in pharmaceuticals and the food industry are the factors anticipated to spur the global market forward during the forecast period of 2021-2026.
Report Coverage
The report: “Avocado Oil Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Avocado Oil Market. By Product Type: Virgin Oil, Extra Virgin Oil, Refined Oil, Blend and Others.
By Avocado Type: Hass, Fuerte, Zutano, Bacon, Lamb Hass, Gwen and Others.
By Application: Food and Beverages, Pharmaceuticals and Nutraceuticals, Dairy Products, Sweet and Savoury Snacks and Others.
By Distribution Channel: Hypermarkets/Supermarkets, Specialty Stores, Convenience Stores, online Retail and Others.
By Geography: North America (U.S., Canada, Mexico), Europe (U.K, Germany, Italy, France, Spain, Russia, Rest of Europe), Asia Pacific (China, Australia, Japan, South Korea, India, Rest of Asia Pacific), South America (Brazil, Argentina, Others) and Rest of the World (Middle East, Africa)
Key Takeaways
- In 2020, North America dominated the Avocado Oil Market.
- The rise in the number of chronic illnesses and a rise in consumer health consciousness are both growing, are anticipated to help in the global expansion of the Avocado Oil Market.
- Detailed analysis of the Strength, Weakness, and Opportunities of the prominent manufacturers operating in the market will be provided in the Avocado Oil Market report.
- However, one of the key challenges limiting the growth of the Avocado Oil Market is the presence of alternatives to avocado oil which are becoming more common, and avocado oil is becoming more
- expensive.
High Product Costs And Its Subsequent Alternatives Presence Might Result In A Loss Of Output
One of the key concerns that is predicted to stifle the Avocado Oil Market's growth is the rise of alternatives to avocado oil. Chia seed oil, olive oil, hemp oil, and other alternative oils made from healthy sources are competitors for avocado oil. These oils have their own set of advantages. This is likely to provide a challenge to the avocado oil industry throughout the forecast period 2021-2026 as customers have a variety of other goods to choose from. The lower shelf-life of avocado fruits, which deteriorate and rot in a short amount of time, is another hindrance to the Avocado Oil Market's expansion. As a result, avocado oil producers have begun to relocate their oil extraction operations closer to avocado-producing regions.
Avocado Oil Market Landscape
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Avocado Oil market. In 2020, Avocado Oil market share is fragmented by the top ten players present in the market. The Avocado Oil market top 10 companies are:
- Spectrum Organic Products LLC
- Bella Vado Inc.
- La Tourangelle
- The Village Press
- Madana Inc
- Olivado USA
- Crofts Ltd.
- CalPure Foods Inc.
- Clibaria International
- Choosen Foods
Acquisitions/Product Launches
- In August 2019, Black & Green introduced India’s first extra virgin Avocado oil.
- In 2019, Avocado Health Ltd. started a new factory in Ethiopia, which can process 5,000 kg of fresh avocado per hour.
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