The avocado oil market has created a niche for itself and for good reasons. It is expected to have a remarkable growth at a splendid 13.5% CAGR over the forecast period (2017-2023). Avocado truly has something which is why the world cannot stop gushing regarding it. It is an extremely healthy fruit that one can add to their daily diet for eye health, weight loss and a healthy heart irrespective of this fruit having excess fat content. This is indeed a fatty fruit yet by no means has mar its reputation one bit solely because it contains good fats. The oil extracted from this fruit is used in numerous applications such as medicinal, personal care and cosmetics. Avocado oil has gained enough significance especially in medical applications due to the multiple perks that it offers such as high source of vitamin E, increased rate of healing wounds, improves skin glow, carries out detoxification, improve heart health and reduce weight. This oil is monosaturated fatty acid that is available in both non-edible and edible forms and comes in three variations- crude, extra-virgin and refined.
There are many factors that has surged the demand and growth of the avocado oil market. Some of the market trends and factors in this market as per an analysis conducted by Market Research Future (MRFR) include increasing awareness of healthy lifestyle, nutrient rich composition, positive perception amid consumers and health experts, significant increase in health ailments such as chronic and heart diseases resulting from high consumption of oil and fat butter and its availability all through the year. But a key factor that is likely to restrict the growth of the market is its price. Avocado oils are expensive particularly in developing countries.
In MFRF’s report, the global avocado oil market is segmented on the basis of type, application and distribution channel.
Based on type, it is segmented into extra virgin avocado oil, virgin avocado oil and crude avocado oil. Of these, extra virgin avocado oil has the maximum market share. It has the finest quality because this oil is extracted from the best quality avocado and the extraction is done through a cold-press method at a low temperature. The best part it is sans chemical additives. Also, extra virgin avocado oil has a high consumption due to its various health attributes which is propelling its demand in the market.
Based on application, the avocado oil market is segmented into medicinal products, personal care products and cooking/culinary. Of these, cooking/culinary holds the maximum market share owing to its high smoke point that makes it ideal for use in cooking methods that operate in high temperature such as frying. The demand of avocado oil however in personal care products is predicted to see a soaring demand from consumers due to its multiple health and skin benefits.
Based on distribution channel, it is segmented into non-store based and store-based. Of these, the store-based has a major share in the market due to the one-stop shopping experience.
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Leading players profiled in the avocado oil market include Avoolio (Mexico), Olivado Ltd (New Zealand), AMD Oil Sales LLC (US), ACADO (Singapore), Sesajal S.A. de C.V. (Mexico), Chosen Foods LLC (US) and Bella Vado (US).
Dec 2018- Australian avocados now will be exported to Japan with an aim to cement new trade relations along with market opportunities for the horticultural products. Called the “Aussie Avo” this event took place recently at Tokyo’s Australian embassy. The Australian avocados will offer the consumers in Japan some difference in their present supply that will deepen their attraction towards Australian products thereby strengthening trade ties among local exporters.