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Avocado Oil Market Analysis 2020 | Size, Share, Trend, Future Strategic Planning, Current Scenario, Gross Margin and Forecast to 2024
Avocado Oil Market
Global Avocado Oil Market is expected to grow at a significant rate of 6.5% from 2019 to 2024 to reach a market value of USD 1.1 billion by the end of 2024. Increasing awareness about the nutritional benefits of avocado oil and changing consumer preference towards oil containing low fat and cholesterol are boosting the growth of global avocado oil market. The rising fad for plant-based personal care and cosmetic products is expected to drive the avocado oil market. Furthermore, various applications of avocado oil in pharmaceuticals & nutraceuticals, and food industries are fueling the growth of global avocado oil market.
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Avocado oil is an edible oil pressed from the avocado fruit (Persea Americana). As a food oil, it is used in many dishes, salad dressing, bakery items, sweet & savory snacks, and in frozen desserts. Avocado oil is used in personal care products and cosmetics as it possesses regenerative and moisturizing properties. Avocado oil possesses antioxidant properties, and it contains oleic acid, a monounsaturated omega-9 fatty acid and, lutein. Avocado oil helps in maintaining cholesterol level and improves heart health, prevents and treats acne, and enhances wound healing. There have been researches going on how avocado oil might help to prevent gum disease, may reduce signs of aging and, may reduce symptoms of arthritis. Based on the type avocado oil market has been categorized into refined, virgin, and, extra virgin oil. Depending upon the filtration, the color of avocado oil may vary to light green to light yellow and golden.
Segmentation
The global avocado oil market has been segmented based category, application, type, and region.
The global avocado oil market has been classified, based on category, as organic and conventional.
The application segment in the global avocado oil market has been divided into food & beverages, pharmaceuticals & nutraceuticals, and others. The food & beverages segment is further bifurcated into bakery & confectionary, beverages, dairy & frozen dessert, and sweet & savory snacks.
The global avocado oil market has been classified, based on type, into refined, virgin, and extra virgin.
The global avocado oil market has been analyzed for four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
Key Players
Grupo Industrial Batellero S.A. de C.V (Mexico), Bella Vado, Inc. (US), Chosen Foods LLC (US), Sesajal S.A. de C.V. (Mexico), Avocado Oil de México (Mexico), Aconcagua Oil & Extract S.A. (Chile), Avocado Global Pte Ltd. (Singapore), AMD Oil Sales LLC (US), Olivado Ltd (New Zealand), Tron Hermanos SA de CV(Mexico), Spectrum Organic Products, LLC (US), The Village Press (US), La Tourangelle, Inc. (US), Diricom, S.A. de C.V. (Mexico), and Nobel Foods (Mexico).
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Regional Market
Globally, North America is expected to dominate the avocado oil market during the forecast period.
Presence of well-known avocado oil manufacturers as Bella Vado, Inc., Grupo Industrial Batellero S.A. de C.V, Chosen Foods LLC, and Sesajal S.A. de C.V. are catalyzing the growth of avocado oil market in the region. Avocado oil is used as an ingredient in many processed food products by food processing industries. High consumption of processed food products & beverage products is expected to trigger the growth of the avocado oil market in the region, during the forecast period.
Europe is expected to register the highest CAGR in the avocado oil market during the forecast period. Changing dietary habits of consumers across the region is causing rising demand for flavored and processed food, which is further boosting the growth of avocado oil market. The rise in awareness about the health benefits of avocado oil among consumers is further propelling the regional growth.
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