Avocado oil is an edible oil extracted from the pulp of avocados, the fruit of Persea Americana. It is a heart-healthy oil, high in oleic acid, which is an unsaturated fat. It is a good source of monounsaturated fat that has been linked to increasing HDL (good) cholesterol and reducing LDL (bad) cholesterol. Moreover, avocado oil help control of psoriasis and osteoarthritis, and some of the benefits associated with avocado oil make it useful for the treatment of carotid artery disease, peripheral artery disease, and coronary heart disease, among others.
Moreover, owing to its moisturizing and regenerative properties, Avocado Oil market is widely used in the cosmetic industry. The antioxidants and anti-inflammatory agents in avocado oil help skin stay strong, smooth, and elastic. Avocado oil is available in any health or grocery store, and it can be also used to heal chapped skin or calm itchy skin.
Competitive Landscape:
Major players operating in the global avocado oil market are Chosen Foods LLC, Bella Vado, The Village Press, YASIN, Olivado, Sesajal S.A. de C.V., Storino's Quality Products, Tron Hermanos SA de CV, and Grupo Industrial Batellero S.A. de C.V, among others.
Key Market Drivers:
Increasing demand for avocado oil due to increase in prevalence of heart and chronic diseases is expected to propel growth of the avocado oil market during the forecast period. Elevated low-density lipoprotein (LDL), bad cholesterol, is a major cause of heart disease. For instance, According to the World Health Organization (WHO), cardiovascular diseases (CVDs) are the leading cause of death globally, taking an estimated 17.9 million lives each year. Thus, there is an increasing demand for avocado oil worldwide.
Moreover, increasing use of avocado oil in the cosmetic industry is expected to augment growth of the avocado oil market. For instance, in May 2021, Detoxie launched an avocado-based face oil comprising of an assortment of concentrated oils that penetrate deep into the skin to boost collagen and improve elasticity. This Ayurvedic facial oil is packed with antioxidants for rapid hydration and velvety-soft skin with a healthy looking glow and defends against free radicals to support natural elasticity. They call it a calming & clarifying ultra glow face oil.
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COVID-19 Impact Analysis:
The outbreak of COVID-19 has had a dual impact on the avocado oil market. Restrictions on the movement of goods & transport services have caused disruption in the supply chain, which in turn has affected the consumption patterns of particular products negatively. However, rise in awareness among people about the health benefits of avocado oil has resulted in the rising demand for avocado oil during the ongoing pandemic. But, rising fuel prices have increased transportation costs, thereby impacting oil and other commodity prices.
Key Takeaways:
- The avocado oil market is expected to exhibit a CAGR of % during the forecast period owing to the introduction of novel products by market players. For instance, in March 2019, Chosen Foods showcased new infused avocado oil sprays in 9 delicious flavors At Natural Products Expo West 2019. Chosen Foods creates products to support clean eating that are developed around the health and benefits of avocados, exemplified by the brand's nine new infused flavors for its signature Avocado Oil Sprays.
- Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the avocado oil market owing to the increase in prevalence of heart and chronic diseases, increasing consumption of avocado oil, rise in demand for extra virgin avocado oil, increasing use in the cosmetic industry or personal care products, and rise in awareness among people about the health benefits of avocado oil.
For instance, according to the Centers for Disease Control and Prevention (CDC), around 630,000 people in the United States die due to heart diseases every year, which are caused due to bad cholesterol and high blood pressure.
Moreover, in April 2021, Catania Oils announced the launch of 750 ML Marconi Avocado Oil, to meet customer demand and bring innovation and quality products to market. Catania developed new packaging in a 750 ML light blocking bottle to preserve freshness.
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