Latin America And North America Contribute Large Share To Global Avocado Oil Market

https://www.coherentmarketinsights.com/market-insight/avocado-oil-market-1058
Avocado Oil Market 



Market Overview:

Avocado oil is obtained from ripe avocados through pressing or extruding. It is a source of healthy monounsaturated fat and vitamins A, D, E and K. Avocado oil has a rich flavor and high smoke point, making it suitable for cooking and cosmetic applications. The growing health-conscious population is driving the need for healthier cooking oils like avocado oil.

Market Key Trends:

Latin America accounts for the largest share in the global avocado oil market, primarily driven by countries like Mexico, Peru, Colombia and Chile. The ideal climatic conditions in these countries make them suitable for large-scale avocado cultivation. In Mexico alone, annual avocado production is over 1.8 million tons. Further, the increasing product export from Latin American countries to North America and Europe is also contributing to the regional market growth over the forecast period.

Segment Analysis

The global avocado oil market is segmented by source, grade, application and distribution channel. Based on source, it is segmented into hass, fuertes, reed and Others. The hass segment dominates the market and accounts for around 70% share as it has a buttery and creamy texture. Hass avocados are considered premium quality and therefore fetch higher prices.

The global Avocado Oil Market Growth is estimated to be valued at US$ 287.2 Million in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023-2033, as highlighted in a new report published by Coherent Market Insights

Key Takeaways

The global avocado oil market size is expected to reach US$ 482.5 million by 2033, expanding at a CAGR of 5.9% during the forecast period. The increased awareness regarding the health benefits of avocado oil such as the presence of antioxidants, vitamins and omega fatty acids is propelling the market growth.

Regional analysis
North America dominates the global avocado oil market and is estimated to account for around 45% share of the overall market by 2033. Mexico is the largest producer as well as exporter of avocado oil and growing health-conscious population in the US is driving high demand.

Key players
Key players operating in the avocado oil market are Sesajal S.A. de C.V., Olivado, Grupo Industrial Batellero S.A. de C.V, YASIN, Tron Hermanos SA de CV, The Village Press, Bella Vado, Chosen Foods LLC, and Storino's Quality Products. These players are focusing on new product developments and expansion of their distribution channels to strengthen their market position.

Comments

Post a Comment

Popular posts from this blog

Agricultural Micronutrients Market Growth Accelerated By Increasing Need For Improved Soil Fertility

Image
Agricultural Micronutrients Market Agricultural micronutrients are essential plant nutrients required in small quantities for healthy plant growth and development. Micronutrients such as iron, zinc, manganese, molybdenum, and boron play vital roles in various metabolic functions of crops such as photosynthesis, nitrogen fixation, and enzyme activity. The increasing need to boost crop yields and improve soil fertility has raised the demand for micronutrient fertilizers globally. The growing population and reducing arable land have fueled the need for sustainable agricultural practices, propelling the micronutrients market. The global Agricultural Micronutrients Market is estimated to be valued at US$ 5.19 Bn in 2024 and is expected to exhibit a CAGR of 27.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increasing adoption of precision farming and digital technologies in the agriculture sector is
Read more

Dairy Alternative Market Expected To Reach USD 26.01 Billion By 2023

Image
Dairy Alternative Market Market Overview: Dairy alternative products are gaining significant popularity due to their numerous advantages. These products are plant-based, making them suitable for individuals with lactose intolerance or those following a vegan diet. They offer similar nutritional benefits as traditional dairy products such as milk, cheese, and yogurt, while also addressing concerns related to animal welfare and environmental sustainability. The growing demand for dairy alternative products among health-conscious consumers is driving market growth. Market Key Trends: One key trend observed in the dairy alternative market is the increasing preference for plant-based milk substitutes. Plant-based milk alternatives such as almond milk, soy milk, and oat milk, among others, are gaining traction among consumers as a healthier and more sustainable option compared to traditional dairy milk. These plant-based milk alternatives offer various benefits such as being lactose-free, c
Read more

Antimicrobial Additives Market Growth Accelerated By Rising Demand From End-Use Industries

Image
Antimicrobial Additives Market Antimicrobial additives are extensively used in a wide range of end-use industries such as healthcare, packaging, food and beverage, construction, and automotive. These additives help protect various materials from microorganisms such as bacteria, viruses, etc. Some key applications of antimicrobial additives include packaging of food, medical devices, fabrics, flooring, coatings, etc. The ongoing COVID-19 pandemic has further increased the importance of hygiene and sanitation, driving demand for antimicrobial materials from various sectors. The global Antimicrobial Additives Market is estimated to be valued at US$ 3.47 Bn in 2024 and is expected to exhibit a CAGR of 25.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the key drivers of the market's growth is the rising demand for antimicrobial additives from the packaging industry. Packaging manufacturers
Read more