The global avocado oil market is expected to evolve at a CAGR of 5.5% and increase from its present value of US$ 556 million to US$ 950 million by the end of 2032.
North America, led by the United States, is set to dominate the global market throughout the forecast period. The North American avocado oil market garnered revenue worth US$ 272.21 million in 2021. Moreover, extra-virgin avocado oil is estimated to account for 44% share of global sales over the decade.
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Key Takeaways:
- In 2021, the North America avocado oil market created an absolute dollar opportunity of nearly US$ 272.21 Million.
- Based on product, the extra-virgin oil segment is expected to account for 44% of the global avocado oil sales during the next ten years.
- The global avocado oil market is projected to reach a valuation of US$ 556 Million by the end of 2022.
- In Asia Pacific, China is set to generate maximum revenue by 2032 amid large-scale avocado planting activities in Guangdong, Yunnan, and Fujian provinces.
- The U.S. avocado oil market is estimated to remain at the forefront in North America on the back of presence of key players like Olivado USA in the country.
Competitive Landscape:
Leading suppliers of avocado oil are aggressively pursuing marketing tactics such as new product developments, collaborations, technological innovations, R&D activities, investments, and acquisitions to broaden their worldwide exposure.
- Jackson’s Honest, a U.S.-based company, extended its snack assortment of sweet potato chips with new packaging in October 2021. In addition to the traditional Sea Salt with Coconut Oil chips, there are three new avocado oil flavors: Sea Salt, Carolina BBQ, and Spicy Tomatillo.
- Vital Farms, situated in Austin, Texas, launched pasture-raised butter with avocado oil and sea salt in August 2021. This creamy and flavorful tub of butter is made from 100% pure avocado oil and sea salt.
Key Companies Profiled by Fact.MR
- Sesajal S.A de C.V
- Crofts Ltd
- Westfalia Fruit (Pty) Ltd
- The Village Press
- Olivado Ltd
- Tron Hermanos SA de CV
- Cibaria International
- Diricom S.A. de C.V
Growth Drivers:
- Growing popularity of organic personal care and cosmetic products is set to boost sales of specialty ingredients like avocado oil.
- Avocado oil companies are projected to use recyclable packaging rather than plastic to attract more consumers who are concerned about the environment.
Restraints:
- Easy availability of cost-effective avocado oil substitutes like olive oil and sunflower oil may hamper sales in the market.
- Presence of many counterfeit products on supermarket and hypermarket shelves can hinder demand in the next ten years.
Key Segments of Avocado Oil Industry Research:
· By Product :
- Extra-virgin Oil
- Virgin Oil
- Pure Oil
- Blends Oil
· By Application :
- Retail
- Cosmetics and Personal Care
- Medicinal
- Other Applications
· By Sales Channel :
- Specialty Stores
- Modern Trade
- Drug Stores
- Online Stores
- Other Sales Channels
· By Source :
- Hass
- Fuertes
- Other Sources
· By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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Key Questions Covered in the Avocado Oil Market Report
- What is the projected value of the avocado oil market in 2022?
- At what rate will the global avocado oil market grow until 2032?
- Which are the factors hampering the growth in the avocado oil market?
- Which region is expected to lead in the global avocado oil market during 2022-2032?
- Which are the factors driving the avocado oil market during the forecast period?
- What is the expected market value of the avocado oil market during the forecast period?
More Valuable Insights on Avocado Oil Market
In the latest study, Fact.MR offers a detailed study on global avocado oil market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of avocado oil through detailed segmentation as follows:
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