IMARC Group, a leading market research company, has recently releases report titledAvocado Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,The study provides a detailed analysis of the industry, including the global avocado oil market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the avocado oil market?
The global avocado oil market size reached US$ 550.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 776.7 Million by 2028, exhibiting a growth rate (CAGR) of 5.5% during 2023-2028.
What is Avocado Oil?
Avocado oil is a culinary oil obtained from the pulp of avocados, a fruit rich in monounsaturated fats, vitamins, and minerals. Unlike most other fruit oils that are derived from the seed or kernel, avocado oil is pressed from the fleshy pulp surrounding the avocado pit. It is distinguished by its creamy texture and a subtle flavor that carries a hint of the avocado's buttery taste. The oil's high smoke point, ranging between 375F (190C) and 400F (204C), makes it versatile for various cooking methods, including frying, grilling, sauting, and baking. Additionally, it is a popular ingredient in salad dressings and dips because it emulsifies nicely and enhances the flavors of other ingredients. Nutritionally, avocado oil is valued for its beneficial fatty acid profile and content of antioxidants and vitamin E. The monounsaturated fats in avocado oil, predominantly oleic acid, are heart-healthy and can help reduce bad cholesterol levels. The presence of lutein, an antioxidant, also promotes eye health. Avocado oil is also used in cosmetic products for its nourishing properties for skin and hair, rounding out its profile as a multi-purpose natural oil.
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Avocado Oil Market Trends:
The rising health consciousness represents one of the key factors driving the growth of the market across the globe. With a rise in consumer awareness about healthy eating habits, there is a rise in the demand for oils with a better nutritional profile. Avocado oil is rich in monounsaturated fats and antioxidants, which are linked to various health benefits, including improved heart health and skin care. This is positioning avocado oil as a healthier alternative to traditional cooking oils. The mild, yet distinct flavor and high smoke point make avocado oil a preferred choice for chefs and home cooks alike. It is versatile and suitable for both cold dishes like salads and high-heat cooking.
This adaptability in culinary applications is widening its appeal among food enthusiasts. Avocado oil is increasingly incorporated into skincare and hair care formulations, capitalizing on its vitamins and fatty acids, which are touted for their moisturizing and nourishing properties. The expansion of the natural and organic beauty sector is further stimulating the demand for avocado oil. The market is also driven by the rising shift towards plant-based diets and whole-food ingredients. Avocado oil fits well into vegan, paleo, and clean eating diets, which is driving its popularity among health-conscious consumers.
Effective marketing strategies by manufacturers emphasizing the health benefits of avocado oil are educating consumers and shaping purchasing behaviors. The branding of avocado oil as a premium product is also attracting a market willing to pay a higher price for quality. Environmentally aware consumers are interested in the sustainability of their food sources. Avocado oil, when produced responsibly, is seen as a more environmentally friendly choice compared to some oils that require extensive land use changes which is facilitating the growth of the market across the globe.
Who are the key players operating in the industry?
The report covers the major market players including:
- Olivado Group
- Sesajal
- Grupo Industrial Batellero
- The Village Press
- Spectrum organics
- Bella Vado
- Chosen Foods LLC
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
- Extra Virgin Oil
- Refined Oil
- Blends
- Others
Breakup by Application:
- Food and Beverages
- Cosmetics
- Pharmaceuticals
- Others
Breakup by Distribution Channel:
- Business to Business
- Business to Consumer
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Stores
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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