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Extra Virgin Avocado Oil Market Size is Projected to Rise $527.1 Million by 2026, Growing At a CAGR of 4.40% From 2019-2026
Extra Virgin Avocado Oil Market
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High smoke point of extra virgin avocado oil, health benefits associated with it, and increasing adoption of extra virgin avocado oil in cosmetic industry drive the growth of the global extra virgin avocado oil market. On the other hand, high cost of extra virgin avocado oil and availability of alternate products restrain the market to certain extent. Nevertheless, growing adoption of avocado oil in developing countries is anticipated to create opportunities for the market players in the future.
Increase in awareness about health benefits, high smoke point, and surge in adoption in the cosmetics industry drive the growth of the global extra virgin avocado oil market. However, high cost and availability of alternatives hinder the market growth. On the other hand, rise in adoption in developing countries present new opportunities in the coming years.
The global extra virgin avocado oil market is segmented into application, distribution channel, and region. By application, the market is bifurcated into food & beverage and cosmetics. By distribution channel, the market is fragmented into supermarkets/hypermarkets, beauty stores, and online store. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
According to the extra virgin avocado oil market analysis in 2018, the food & beverage segment generated the highest revenue and is expected to remain dominant throughout the forecast period. This is attributed to increase in adoption of extra virgin avocado oil in the food & beverage industry due to its high smoking point and health benefits. However, the cosmetics segment is expected to grow at the highest CAGR throughout the forecast period, due to increase in adoption of avocado oil as ingredient in the cosmetic industries.
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By on region, North America accounted for the maximum share in the global market in 2018 and is expected to continue this trend during the forecast period. This is attributed due to higher expenditure of consumers on healthy cooking oil and inclination toward cosmetics with natural ingredients. However, Mexico is expected to grow with the highest CAGR throughout the forecast period, owing to the technological development in avocado harvesting, and awareness among consumer regarding benefits associated with the virgin oil products.
In 2018, supermarket/hypermarket segment was the most prominent segment, accounting for maximum share in the global market, owing to the availability of cooking oil and cosmetics at the same place. However, the online segment is expected to witness the highest growth, due to increase in the penetration of internet in the developed as well as the emerging countries.
The key players profiled in this report include Aceitera Mevi México SA de CV, Aconcagua Oil & Extract SA, Avocado Oil New Zealand Ltd. (Grove Avocado Oil), Bella Vado, Inc., CalPure Foods, Inc., Crofts Ltd., Mt. Kenya Fresh Avocados, Nobel Foods, Olivado Ltd., and Westfalia Fruit (Pty) Ltd.
Key Benefits for Stakeholders:
• The report provides a quantitative analysis of the current extra virgin avocado oil market trends, estimations, and dynamics of the market size from 2018 to 2026 to identify the prevailing opportunities.
• Porter's five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis and the extra virgin avocado oil market size and segmentation assists in determining the prevailing opportunities.
• The major countries in each region are mapped according to their revenue contribution to the global extra virgin avocado oil market.
• The market player positioning facilitates benchmarking and provides a clear understanding of the present position of the players operating in the industry.
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