According to our latest market study on “Global Avocado Oil Market to 2027 – COVID-19 Impact and Global Forecast Analysis by Type (Extra Virgin, Virgin, Refined, and Blends); Nature (Organic, Conventional); Variety (Hass, Pinkerton, Fuerte, Gwen, and Others); Application (Food and Beverages, Pharmaceuticals, Cosmetics, and Others); Distribution Channel (Hypermarkets and Supermarkets, Specialty Stores, Online Stores, and Others), and Geography, ”the market accounted forUS$669.48 million in 2018 and is expected to grow at a CAGR of 9.1% during 2019–2027 to reach US$ 1,452.25 million by 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Report Coverage Details
Market Size Value in- US$ 669.5 Million in 2018
Market Size US$ 1,452.2 Million by 2027
Growth rate- CAGR of 9.1% from 2019-2027
Forecast Period- 2019-2027
Base Year- 2019
No. of Pages- 208
No. Tables- 137
No. of Charts & Figures- 102
Historical data available- Yes
Segments covered- Product , and End User
Regional scope- Type , Nature , Variety , Application , Distribution Channel , and Geography
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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Avocado oil is edible product used in various food recipes, salad dressings, bakery items, and sweet and savory snacks. It is also used in personal care and cosmetics products owing to its moisturizing and regenerative properties. The oil has high monounsaturated fat and low saturated fat content, and it is free of cholesterol. Avocado oil is highly preferred by people with diabetes as regular consumption of this oil helps lower low-density lipid (LDL), i.e., bad cholesterol, levels. Avocado oil is high in vitamin E and potassium, which keep the blood vessels healthy by eliminating free radicals. The consumption of food prepared using avocado oil also alters the levels of essential fatty oils in kidneys.
Rising prevalence of lifestyle disorders such as diabetes, obesity, cardiovascular disorders, etc. due to the high consumption of high-fat butter and oils is projected to increase the demand for healthy oils such as avocado oil. Incidences of lifestyle diseases are mounting across the globe. According to the World Health Organization (WHO), more than 17 million people across the globe die of cardiovascular diseases (CVD) each year, mainly due to strokes and heart attacks. Cardiovascular diseases occur almost equally among men and women. Although heart attacks and strokes are the major reason for death in major parts of the world, 80% of premature deaths causes can be avoided by controlling the main risk factors such as physical inactivity and unhealthy diet.
Effect of COVID-19 on Avocado Oil Market
The COVID-19 pandemic originated in Wuhan (China) in December 2019, and since then, it has spread across the globe at a fast pace. The US, Brazil, India, Russia, Italy, China, Spain, France and Germany are among the worst-affected countries in terms confirmed cases and reported deaths as of June 2020. The pandemic has affected economies and industries due to enforced lockdowns, travel bans, and business shutdowns. Chemical and materials is one of the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. The global economic break down due to COVID-19 is also affecting the growth of the Avocado Oil market growth due to shutting down of factories and obstacles in supply chain.
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The avocado oil market, by type, is segmented into extra virgin, virgin, refined, and blends. In 2018, the extra virgin segment dominated the market. This type of avocado oil is derived by pressing the Hass and the Fuerte type of avocado fruits. The extra virgin avocado oil from the Hass cultivar has a smoke point at temperature above 250°C, making it suitable for frying. The growing consumption of healthy and nutritious cooking oil by the health-conscious consumers drives the growth of the market for the extra virgin avocado oil.
Based on geography, the global avocado oil market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America. North America accounted for the largest share of the market in 2018, followed by APAC.
Avocado Oil Market: Competitive Landscape and Key Developments
Aconcagua Oil & Extract S.A.; Avocado Health Limited; Crofts Ltd, Bella Vado, Inc.; La Tourangelle, Inc.; Madana Inc.; Mevi Avocados, Inc; Olivado USA; Sesajal S.A de C.V.; and Spectrum Organics Products, LLC are among the key players in the global Avocado Oil market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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