The Global Extra Virgin Avocado Oil Market size is expected to reach $539.9 Million by 2028, rising at a market growth of 4.7% CAGR during the forecast period.
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Due to its established health advantages and its high smoking point, it is utilized in hair and skin care products and cooking oil. In developed nations such as the United States, Canada, and Germany, the adoption of extra virgin avocado oil has been seen to be quite high, although Brazil, China, and India are catching up swiftly.
Avocado oil is extracted from the pulp of the avocado fruit and is processed similarly to extra-virgin olive oil. Virgin avocado oil has only been physically pressed and filtered after being produced from edible-grade avocado fruit. The result is an oil with limitless applications. Avocado oil is versatile and beneficial to human health, whether it is sprinkled over a salad or utilized to sear meat in a pan.
There are a variety of wellness areas in which avocado oil provides health benefits, but it all begins with nutrition. Certain nutrients cannot be absorbed by the body without fat. One such nutrient is carotenoids, the pigments that give fruits & vegetables their vibrant hues.
The emergence of COVID-19 has had a negative impact on the economy and industries of a number of different countries. As a consequence of the quarantines that have been imposed in a number of countries in an effort to halt the progression of the disease, one of the most important industries in the world, the food and beverage industry, has experienced significant setbacks in the form of broken supply chains, the rescheduling of events, and the closing of offices. Even though the year 2020 has been stressful in many aspects, avocado oil sales have been going quite nicely. People are becoming increasingly aware of the advantages of a healthy lifestyle, which has resulted in increased demand for the item during COVID-19.
The growing consumer preference for nutritious food in pursuit of excellent health & wellness has led to considerable growth in the consumption of organic food items. Internet-facilitated access to an endless amount of information has increased consumer awareness of the need for healthier eating, leading to a surge in demand for organic products.
In addition to continuing to be of importance to the food, pharmaceutical, and personal care industries, the product is attracting more interest in other fields, like nanotechnology and environmental care. Recently, new supplemental technologies have been implemented to enhance the yield and quality of extracted products and reduce pollution. These methods include supercritical fluid extraction, oil extraction aided by ultrasound, and pressured fluids. It is projected that the market will continue to expand steadily as a result of the intensive focus on research & development of better technologies to maximize production.
In spite of the fact that olive oil and avocado oil both have a similar production process, olive oil and avocado oil have very different health advantages and are used for very different things in the kitchen. Although avocado oil and olive oil both include antioxidants that fight free radicals, it is considered olive oil has a higher concentration of vitamin E than avocado oil does. This holds true in particular when the two oils are heated together. Olive oil and avocado oil both have comparable amounts of healthy and bad fats, but olive oil has a higher level of anti-inflammatory and antioxidant compounds than avocado oil does.
On the basis of distribution channel, the extra virgin avocado oil market is fragmented into supermarkets/ hypermarkets, convenience stores and online stores. The online store's segment covered a substantial revenue share in the extra virgin avocado oil market in 2021. This is because of the increasing prevalence of online shopping in both developed and developing nations. It is result of the wide range of products available in online stores as well as convenience of doorstep delivery which is leading to market growth.
Based on application, the extra virgin avocado oil market is segmented into food & beverage, and cosmetics. In 2021, the food & beverage segment dominated the extra virgin avocado oil market with maximum revenue share. This is attributable to the increased use of avocado oil in the food & beverage industry as a result of its elevated smoking point. Increasing knowledge of the health advantages of extra virgin avocado oil is also contributing to the expansion of the market.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 396 Million |
| Market size forecast in 2028 | USD 539.9 Million |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 4.7% from 2022 to 2028 |
| Number of Pages | 129 |
| Number of Tables | 246 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Distribution Channel, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the extra virgin avocado oil market is analyzed across the North America, Europe, Asia Pacific and LAMEA. In 2021, the North America region led the extra virgin avocado oil market by generating maximum revenue share. This is owing to the highly developed retail system and increased acceptance of extra virgin avocado oil as a result of the increasing prevalence of obesity and cardiovascular disease. In addition, the increase in consumer spending on diet foods and cosmetics contributes to the popularity of extra virgin avocado oil in this region.
Free Valuable Insights: Global Extra Virgin Avocado Oil Market size to reach USD 539.9 Million by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Aceitera Mevi México SA de CV, Aconcagua Oil & Extract S.A., Avocado Oil New Zealand Ltd. (Grove Avocado Oil), Bella Vado, Inc., Olivado Ltd. and Westfalia Fruit (Pty) Ltd.
By Distribution Channel
By Application
By Geography
The Extra Virgin Avocado Oil Market size is projected to reach USD 539.9 Million by 2028.
Increasing emphasis on organic oil production are driving the market in coming years, however, Availability of alternative products restraints the growth of the market.
Aceitera Mevi México SA de CV, Aconcagua Oil & Extract S.A., Avocado Oil New Zealand Ltd. (Grove Avocado Oil), Bella Vado, Inc., Olivado Ltd. and Westfalia Fruit (Pty) Ltd.
The expected CAGR of the Extra Virgin Avocado Oil Market is 4.7% from 2022 to 2028.
The Supermarkets/Hypermarkets market is leading the Global Extra Virgin Avocado Oil Market by Distribution Channel in 2021; thereby, achieving a market value of $294.8 million by 2028.
The North America market dominated the Global Extra Virgin Avocado Oil Market by Region in 2021; thereby, achieving a market value of $185.2 million by 2028.
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