SEATTLE, March 09, 2021 (GLOBE NEWSWIRE) -- Avocado oil is a popular liquid oil extract derived from the fleshy pulp of the avocado, the fruit of the largest tree of the genus Persea acutifera. It's used both for cooking and as an unrefined, semi-solid oil for cooking and cosmetic application, where it's noted for its very high smoke point. It's also used extensively for moisturizing and for greasing skin and hair. It's one of the healthiest foods known to man. Avocado Oil is commonly used as a shampoo additive and as a conditioner for the scalp, hair, and skin, with some experts claiming that it may help prevent baldness. It may help to strengthen hair follicles and make them more receptive to growing new hair. It's also known to be rich in vitamins A, D, and E, which are known to promote good hair and nail growth.
The global Avocado Oil market is estimated to account for US$ 225.03 Mn in terms of value by the end of 2027, witnessing a CAGR of 12.3% during the forecast period (2020-2027)
Market Drivers:
Growing incidence of chronic health conditions such as heart diseases is expected to drive growth of the global avocado oil market during the forecast period -
Chronic health conditions such as heart diseases arise due to excessive consumption of oil and high-fat butter. According to the3 World Health Organization (WHO), around 17.9 million people die each year due to CVD, which is a group of heart and blood vessel disease. Avocado oil offers an excellent substitute to conventional oil and high-fat butter, preventing heart disease. Thus, these factors are expected to drive growth of the global avocado oil market during the forecast period.
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Rising availability of avocado all year round is expected to propel the global avocado oil market growth over the forecast period -
Avocados now have become available all year round, which is why consumers do not have to wait for a particular season to avail themselves avocado oil. Furthermore, beneficial properties of avocado such as optimum level of antioxidants and good fatty acids have increased consumption of avocado oil. Hence, these factors are expected to propel the global avocado oil market growth over the forecast period.
Market Opportunity:
Growing demand for plant-based personal care and cosmetic products can present lucrative growth opportunities in the global avocado oil market
Growing consumption of vegan diet has led to the advent of numerous plant-based products. As a result of this, various food product companies are launching avocado-based cosmetic products and personal care products. For instance, in October 2020, Faber-Castell launched a range of unisex products The Better You including 11 cosmetic pencils with formulations that support wellbeing and self-care.
Rising use of avocado oil in pharmaceuticals and nutraceuticals can provide major business opportunities in the global avocado oil market -
Avocado oil is great for a healthy heart, high in oleic acid, which is unsaturated fat. Besides, it contains vitamin E and also absorbs fat-soluble vitamins. Furthermore, it is low in LDL or also referred to as ‘bad cholesterol’. As a result of this, the use of avocado oil is increasing rapidly in various products.
Market Trends:
North America Trends -
Among regions, North America is expected to witness significant growth in the global avocado oil market during the forecast period. This is owing to rising demand for avocado oil and changing preferences of consumers.
Asia Pacific Trends -
Asia Pacific is expected to register a lucrative growth rate in the global avocado oil market over the forecast period, owing to growing awareness regarding the benefits of avocado oil in the region.
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Competitive Landscape:
Major companies involved in the global avocado oil market are Sesajal S.A. de C.V., Olivado, Storino's Quality Products, Grupo Industrial Batellero S.A. de C.V., Black & Green, Chosen Foods LLC, Yasin, Bella Vado, Tron Hermanos SA de CV, and The Village Press.
Major companies in the market are focused on product launches, in order to expand the product portion. For instance, in August 2019, Black & Green introduced India’s first extra virgin avocado oil.
Market Segmentation:
- By Product Type
- Virgin Oil
- Extra Virgin Oil
- Refined Oil
- Blend
- By Application
- Personal Care Products
- Cooking
- Medicinal Products
- Others
- By Distribution Channel
- Hypermarkets
- Supermarkets
- Specialty Stores
- Convenience Stores
- Others
Related Market Intelligence Reports:
Olive Oil Market Report, by Product Type (Extra Virgin Oil, Virgin Oil, and Others (Pomace Olive Oil, Lampante Oil, etc.)), by Distribution Channel (Business-to-business (Food & Beverages, Pharmaceutical, and Beauty & Personal Care) and Business-to-consumer (Hypermarket & Supermarket, Grocery Stores, Online Channel, and Others)), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
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