Extra Virgin Avocado Oil Market Size & Forecast to 2022-2028

Global Extra Virgin Avocado Oil Market Size, Share & Industry Trends Analysis Report By Distribution Channel (Supermarkets/Hypermarkets, Convenience Store, and Online Store), By Application, By Regional Outlook and Forecast, 2022 - 2028

Published Date: November-2022 | Number of Pages: 129 | Format: PDF | Report ID: KBV-20855

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COVID-19

Get in-depth analysis of the COVID-19 impact on the Extra Virgin Avocado Oil Market

Market Report Description

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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Extra Virgin Avocado Oil Market - Global Opportunities and Trends Analysis Report 2018-2028

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.

COVID-19 Impact Analysis

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.

Market Growth Factors

Increasing emphasis on organic oil production

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.

Technological Innovation in the manufacturing process

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.

Market Restraining Factors

Availability of alternative products

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.

Distribution Channel Outlook

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.

Extra Virgin Avocado Oil Market Share and Industry Analysis Report 2021

Application Outlook

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.

Extra Virgin Avocado Oil Market Report Coverage
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
  • Increasing emphasis on organic oil production
  • Technological Innovation in the manufacturing process
Restraints
  • Availability of alternative products

Regional Outlook

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.

Scope of the Study

Market Segments Covered in the Report:

By Distribution Channel

  • Supermarkets/Hypermarkets
  • Convenience Store
  • Online Store

By Application

  • Food & Beverages
  • Cosmetics

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • Aceitera Mevi México SA de CV
  • Aconcagua Oil & Extract S.A.
  • Avocado Oil New Zealand Ltd. (Grove Avocado Oil)
  • Bella Vado, Inc.
  • Olivado Ltd.
  • Westfalia Fruit (Pty) Ltd.

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Related Reports:

North America Extra Virgin Avocado Oil Market Report 2022-2028

Europe Extra Virgin Avocado Oil Market Report 2022-2028

Asia Pacific Extra Virgin Avocado Oil Market Report 2022-2028

LAMEA Extra Virgin Avocado Oil Market Report 2022-2028

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