Avocado Oil Market: Worldwide Industry Analysis and In-depth Surveys Explored By 2022-2029
As per the latest research report by Future Market Insights
(FMI), global demand for avocado
oil is estimated to witness growth at a Y-O-Y of over 4% in 2019. This
growth can be ascribed to a cohort of factors, ranging from changing lifestyles
to rising gravitation toward health & well-being. As per the report,
ever-evolving dietary preferences aligned with the health & wellness trend
is foreseen to boost growth of avocado oil.
According to the report, avocado oil mixed with other
natural edible oils, such as almond oil, olive oil, and others, is a pervasive
trend shaping market growth. Manufacturers are vying to offer such innovative
blends of avocado oil with other edible oil types in a bid to capitalize on the
growing demand for ‘better-than-the rest’ offerings.
Rising Demand for ‘Natural’ & ‘Healthy’ to Propel
Sales of Avocado Oil
Rising instances of heart problems and other chronic
diseases is inducing a move-away from fatty oils, creating sustained
opportunities for manufacturers of the avocado oil market. Incessant demand for
natural and healthy oils is strengthening the demand for edible oils, with
avocado oil being one of the most popular varieties.
Moreover, rising demand for physical and cognitive
well-being among the consumers is one of the major drivers for the increase in
the demand for avocado oil. Modern consumers are considering multiple factors
while purchasing products such as oil, with health benefits being the utmost
priority. These particulars provide credence to optimistic growth of avocado
oil market over the forecast period, unveils the report.
As per the report, consumers prefer products that are
naturally derived and have a rich nutritional profile. In line with the
aforementioned, avocado oil fits the bill as an excellent option well-aligned
with consumer requirements. Avocado oil has a high smoke point as compared to
that of other alternatives, which makes it a suitable choice for cooking at
high temperatures.
Avocado oil obtained without the excessive use of solvents
or heat contains an antioxidant, lutein, which is associated with reduced risk
of age-related macular degeneration and helps to improve the vision. This, in
turn, boosts its visibility as a natural & healthy ingredient for use in
personal care & skin care products, propelling the growth of avocado oil
market.
Surging Demand for Clean-Label Products to Exert Positive
Impact on Avocado Oil Market Growth
The demand for clean label products is anticipated to work
in favor for the key stakeholders of the avocado oil market. Moreover,
consumers are showing strong interest in products infused with simple and
natural ingredients, thereby fuelling adoption of avocado oil in various
end-user verticals.
According to the report, Europe is anticipated to register
impressive growth rate between 2019 and 2029, and Latin America, which owns a
major share in the avocado oil market, is anticipated to retain its
lucrativeness over the forecast period. As per the report estimates, Latin
America and Europe will continue to be the most-attractive regions in the
avocado oil market in terms of revenue-generating opportunities.
Some of the key avocado oil market players are Spectrum
Organics Products, LLC, Sesajal S.A de C.V., Crofts Ltd, Tron Hermanos, Cibaria
International, S.A. de C.V., The Village Press, Aconcagua Oil & Extract SA,
Westfalia Fruit (Pty) Ltd, Avocado Health Limited, and CalPure Foods, Inc.
amongst others. Manufacturers in the avocado oil market are focusing on
strategic transactions, including mergers and acquisitions, to tap into new
customer segments and enhance their profitability.
Avocado Oil Market – Key Research Findings
- Estimated
value for global avocado oil market value in 2019 – US$ 906.8 Mn
- The
avocado oil market will exhibit growth at over 5% CAGR over 2019-2029
- Rising
demand for sophisticated culinary experiences is pushing use of a variety
of edible oils, including avocado oil.
- Declining
demand for fatty oils owing to potential health hazards is fostering
popularity of healthy oils, thereby favoring avocado oil sales.
- Hass
variety will continue to be the top-selling variety of avocado oil
- Among
all other varieties, Hass stands out as a commonly-grown avocado type
across the globe. Cold-pressed avocado oil extracted from the ‘Hass’ type
is in high demand on account of its organoleptic properties.
- Latin
America continues to be the most lucrative region for avocado oil market,
followed by North America
- Avocado
b-products are extremely popular across the key countries of Latin
America, on account of their high levels of vitamin K and potassium. The
Latin American avocado oil is likely to benefit from exponential demand
from multiple industrial units, such as food & beverages and personal
care.
- Increasing
preference for nutrition-rich diet and rapid transition toward healthy
lifestyles complements avocado oil sales.
Main Report Link: https://www.futuremarketinsights.com/reports/avocado-oil-market
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