Industry Background:
The extra virgin avocado oil is extracted from the cold pressing technique using a temperature of less than 50°C (122°F). It is considered as the highest quality of oil available, during the mixing process of oil the temperature of processing is constantly monitored by the oil millers for proper extraction. This process is the necessary step for the blending of avocado pulp in uniformity for the natural extraction of oil from avocado. It retains all its color, aroma, antioxidants and flavor. The extra virgin label is given to oils extracted from the cold press.
According to AMA Research, the market for Extra Virgin Avocado Oil is expected to register a CAGR of 6.1% during the forecast period to 2030. This growth is primarily driven by Growing Awareness about Healthy Cooking with the Use of Healthy Ingredients and Cooking Oils
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Litre |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Food Products sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as CalPure Foods (United States), Olivado (New Zealand), Sesajal S.A de C.V (Mexico), Avocado Oil New Zealand Ltd (New Zealand), Yasin (Nobel Foods) (Mexico), Mt. Kenya Fresh Avocados (Kenya), BIO PLANETE (France), Aconcagua Oil & Extract SA. (Chile), Bella Vado Avocado Oil (United States), Hain Celestial Group (United States) and Proteco (Australia), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On February 14, 2022, California Avocado Company and Chosen Foods announce a strategic partnership to distribute Chosen Foods' avocado oil mayonnaise products in the United States.
On November 15, 2022, Chosen Foods, a producer of avocado oil and other avocado-based products, announced the launch of its new "Chosen Foods Avocado Mayo." This new product aimed to provide consumers with a mayonnaise alternative made with avocado oil.The global market is highly competitive and consists of a limited number of providers competing. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Regulatory Insights:
"With the collaboration of Australian and Californian research groups, the standards have been proposed for avocado oil, including extra virgin, virgin, and pure grades of oil. These standards have been recommended to ensure that avocado oil sold is of good quality in terms of standard quality indices, composition, and sensory properties. The standards are unique to avocado oil, where cold-pressed avocado oil is recovered by mechanical extraction at temperatures less than 50°C, without solvents; water and enzymes can be used. These standards are important, as the production and culinary consumption of cold-pressed avocado oil, with its light, distinctive flavor, is increasing worldwide. Also, the US Food and Drug Administration mandated the addition of trans-fat content to the Nutrition Facts panel on food labels; the regulation became final in January 2006."
Influencing Trend:
The Advent of Various Applications of Extra Virgin Avocado Oil and Rising Demand for Premium Extra Virgin Avocado Oil
Market Growth Drivers:
Growing Awareness about Healthy Cooking with the Use of Healthy Ingredients and Cooking Oils and Increasing Number of Diseases like Diabetes and other Heart Related Disease
Challenges:
Availability of Substitute Products of Extra Virgin Avocado Oil Might be the Hindrance
Restraints:
Significant Risk of Side Effects from Extra Virgin Avocado Oil and Stringent Regulatory Norms Associated Extra Virgin Avocado Oil
Opportunities:
With the Growing Cosmetics and Personal Care Industry will Boost the Extra Virgin Avacado Oil Market and Surging Online Platform will Lead to Market Growth
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Extra Virgin Avocado Oil Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Extra Virgin Avocado Oil Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Extra Virgin Avocado Oil players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Extra Virgin Avocado Oil Study Sheds Light on
The Extra Virgin Avocado Oil Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Extra Virgin Avocado Oil industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Extra Virgin Avocado Oil industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.