North America Extra Virgin Avocado Oil Market Size, Share & Industry Trends Analysis Report By Distribution Channel (Supermarkets/Hypermarkets, Convenience Store, and Online Store), By Application, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Extra Virgin Avocado Oil Market would witness market growth of 3.4% CAGR during the forecast period (2022-2028).
Carotenoids are essential to human health because they reduce the risk of developing certain tumors and illnesses. The majority of carotenoids are found in fruits & vegetables, which are naturally low in fat. When a healthy fat such as avocado oil is added to foods containing carotenoids, the body is better able to absorb the nutrients and receive their advantages.
The studies showed that people use avocado oil in salsa and salads. Increasing knowledge of avocado oil's nutrient-dense characteristics is one of the primary drivers driving market expansion. Consumers are now willing to incorporate nutritious components into their daily diets in response to a global surge in health consciousness.
In fact, hurried lives have significantly reduced physical activity, hence contributing to the increase of several lifestyle disorders. To combat this, people are gradually substituting avocado oil, which contains a higher concentration of beneficial fatty acids, for butter & vegetable oils containing high concentrations of saturated fats. In addition, the increasing desire for organic skin care & personal care products contributes to a rise in carrier oil sales, which in turn increases the need for avocado oil.
Avocados are grown in Mexico at a rate that is equivalent to thirty percent of the world's total production. The avocado is the tropical fruit that is traded the most around the world, and Mexico is the world's top exporter of avocados. The United States consumes 80 percent of the avocados that are produced in Mexico. As an industrialized product, avocado has many applications, including serving as a base for spreads and contributing to the manufacturing of oil that is used in cosmetics. In recent years, there has been a rise in the quantity of avocado oil extracted from Hass and Fuerte kinds. Owing to these factors, the market for extra virgin avocado oil would expand in the North America region.
The US market dominated the North America Extra Virgin Avocado Oil Market by Country in 2021; thereby, achieving a market value of $135.9 million by 2028. The Canada market is experiencing a CAGR of 5.4% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 5.1% during (2022 - 2028).
Based on Distribution Channel, the market is segmented into Supermarkets/Hypermarkets, Convenience Store, and Online Store. Based on Application, the market is segmented into Food & Beverages and Cosmetics. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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
- Convenience Store
- Online Store
- Food & Beverages
- Rest of North America
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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