Extra virgin avocado oil is extracted from pressing fresh Hass and Fuerte type of avocado fruit that has strong avocado aroma. The avocado oil majorly finds its application in cosmetics and food & beverage industry. The extra virgin avocado oil is rich in vitamin A, D, E, C, omega 3 fatty acid, and oleic acid. It is used in hair & skin care solutions and cooking oil due to its proven health benefits. The adoption of extra virgin avocado oil has been witnessed to be considerably high in the developed countries such as the U.S., Canada, and Germany, while emerging countries such as China, Brazil, and India are catching up quickly.
The global extra virgin avocado oil market has witnessed significant growth over the years and is expected to grow at a steady pace during the forecast period. Furthermore, the high smoke point of this oil makes it ideal for cooking, which boosts the growth of avocado oil and is also responsible to drive the growth of the global extra virgin avocado oil market. In addition, increase in prevalence of diseases such as blood pressure, coronary heart diseases, and diabetes fuel the adoption of extra virgin avocado oil in the emerging countries such as U.S., Germany, China, and Brazil, which boosts the market growth.
However, high cost of this oils coupled with issues regarding storage and small shelf life limit the growth of the global market. In addition, there are many edible oils available in the market that are a combination of regular oil and flavored avocado oil along with the same characteristics, which in turn is anticipated to restrain the growth of global extra virgin avocado oil market. There are also many competitive products of avocado oil such as hemp oil, olive oil, chia seed oil, and others available in the market along with the same health benefits. Their manufacturing cost is also low when compared with avocado oil. This limits the growth of the global market. Conversely, surge in demand for trendy cosmetics containing extra virgin avocado oil is beneficial for skin and hair. This is anticipated to provide lucrative growth opportunities for the extra virgin avocado oil market.
The global extra virgin avocado oil market is segmented into application, distribution channel and region. On the basis of application, the market is segregated into food & beverage and cosmetics. By distribution channel, it is fragmented into supermarkets/hypermarkets, beauty store, and online store. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the report include Aceitera Mevi M?xico SA de CV, Aconcagua Oil & Extract SA, Avocado Oil New Zealand Ltd (Grove Avocado Oil), Bella Vado, Inc., CalPure Foods, Inc., Crofts Ltd., Mt. Kenya Fresh Avocados, Nobel Foods, Olivado Ltd., and Westfalia Fruit (Pty) Ltd.
The other players operating in the global extra virgin avocado oil market are Spectrum Organics Products, LLC (Hain Celestial Group, Inc.), La Tourangelle, Inc., Madana Inc., Proteco Gold Pty Ltd, Sesajal S.A de C.V., Cibaria International, The Village Press, Avocados Australia Limited., Chosen Foods, LLC, Grupo Industrial Batellero, La Tourangelle, Avoolio, Ahuacatlan Avocado Oil, Kevala, Bio Planete, Da Gama Avocado Oil, Cate de mi Coraz?n, AvoPure, Kahangi Estate, and Tron Hermanos, S.A. de C.V.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides a quantitative analysis of the current extra virgin avocado oil market trends, estimations, and dynamics of the market size from 2019 to 2026 to identify the prevailing opportunities.
- Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis and the extra virgin avocado oil market size and segmentation assists to determine the prevailing opportunities.
- The major countries in each region are mapped according to their revenue contribution to the global extra virgin avocado oil market.
- The market player positioning facilitates benchmarking and provides a clear understanding of the present position of the players in the industry.
KEY MARKET SEGMENTATION
- Food & Beverage
- Beauty Store
- Online Store
- North America
- ·Rest of Europe
- ·South Korea
- ·Rest of Asia-Pacific
- ·Saudi Arabia
- ·South Africa
- ·Rest of LAMEA