Latin America Avocado Oil Market to be Driven by the Rising Awareness about the Nutrient-Rich Composition of the Product and Health benefits in the Forecast Period of 2023-2028
The new report by Expert Market Research titled, ‘Latin America Avocado Oil Market Price, Share, Size, Trends, Growth, Analysis, Key Players, Outlook, Report and Forecast 2023-2028’, gives an in-depth analysis of the Latin America Avocado Oil Market, assessing the market based on its segments like product type, application, distribution channel, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 189 Million
- Forecast CAGR (2023-2028): 5.8%
- Forecast Market Size (2026): USD 268 Million
In Latin America, Mexico is likely to be one of the most important regional markets for avocado oil. The increased prevalence of diabetes, obesity, cardiovascular disease, and other chronic conditions in Mexico has fueled the rise of the avocado oil market. Due to the tremendous growth of the pharmaceutical business, the breakout of the COVID-19 pandemic offered additional momentum to the market. Avocado oil is a wonderful immune booster and has a high nutritional value, thus the increasing food and beverage industry supported the market. Avocado oil is high in good fats. When a result, even as consumer preferences evolved in favour of a healthier diet, avocado oil remained in demand.
Industry Definition and Major Segments
Avocado oil is a nutritious edible oil that has a high smoke point, making it a popular cooking oil. The oil has a similar nutritional profile like olive oil and can be ingested raw. Avocado pulp is used to extract it. Avocado oil is used in cosmetics and lubricants in addition to baking, deep-frying, stir-frying, grilling, searing, roasting, and sauteing.
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By product type, the market can be segmented into:
- Extra Virgin Oil
- Refined Oil
Based on application, the industry can be divided into:
- Food and Beverages
On the basis of distribution channel, the market can be categorised into:
- Business to Business
- Business to Consumer
- Supermarkets and Hypermarkets
- Convenience Stores
The regions for Latin America avocado oil market include:
Because of greater awareness of the product’s benefits, the avocado oil market has seen a boom in growth. Avocado oil is high in glutathione, which helps to strengthen the immune system. Rising awareness of the product’s nutrient-rich nature, favourable perception among health experts, and Latin Americans’ healthy lifestyle are some of the factors expected to boost the market over the projected period. Because of the product’s therapeutic characteristics, the thriving pharmaceutical industry is likely to boost market expansion. Furthermore, the food and beverage industry is seeing the creation of a wide range of products, including refined avocado oil-based recipes. This is projected to have a substantial impact on the market in the coming years.
During the forecast period, the market is predicted to increase significantly. People’s health awareness has improved as a result of the COVID-19 outbreak. Because extra-virgin avocado oil is seen as a healthy oil that is favoured over normal oils, the market is likely to grow in the future years.
Key Market Players
The major players in the market are SESAJAL SA DE C.V, NOBEL FOODS, SA DE C.V, Grupo MaDiVi SA DE C.V, Diricom, SA DE C.V, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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