The purpose of this rich study presented by FactMR is to elaborate the various market projections impacting the global avocado extract market during the period until 2028. This assessment delivers high-end statistics concerning market size (US$ 75 million) and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about growth trends along with opportunities that are expected to reshape the overall structure of the avocado extract market during the forecast period.
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FactMR report delivers notable insights on all the key avocado extract market players. Profiled players in the avocado extract market include Simpson Farms, Crofts Limited, AVOCARE, Olivado Ltd, Avocado Global Pte Ltd, Salud Food Group, Sunfresh, Avocado Oil De Mexico, Indigo Herbs, Markon, and others.
Tier 3 players in the avocado extract market have a significant penetration in domestic markets. Avocado extract products manufactured by these players are preferred across multiple applications, owing to end-user sentiment to buy locally produced avocado extract products such as oil, powder and puree.
Olivado Ltd., Indigo Herbs, Markon and other players are categorized as Tier 3 companies whose focus remains differentiated food offerings. For Instance, Olivado Ltd. is a leading provider of extra virgin cold pressed avocado oil whereas Indigo Herbs delivers organic avocado powder. With their unique approach of market sustenance, Tier 3 players hold over half the volume share in the avocado extract market. Avocado production is concentrated in Mexico which accounts for 35-45% of the global avocado supply. Other prominent producers include the Dominican Republic, Peru, Colombia, and Indonesia. Demand for avocado has skyrocketed in the past half a decade which has created volatility in the avocado market, particularly lower field prices. Moreover, the duration of avocado ripening depends on the harvesting time and post-harvest environment. Further, the fruit requires end-to-end monitoring during shipping and storage. In addition to the field price challenges, unique harvesting process and requirement of the cold chain while transportation further complicates the supply chain. The delicate supply chain is vulnerable to changes that may affect the stock used in the production of different avocado extract products.
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Consumer spending on products with natural ingredients has increased significantly. The trend has fuelled the sales of consumer products with avocado ingredients. Further, the positive consumer sentiment about avocados as a healthy food is rubbing off on its growing adoption by cosmetic manufacturers. Avocado oil is known for its higher penetration in the skin tissue and is a highly used ingredient in nourishing creams, massage oil, massage cream and other lubricating lotions. Sales of beauty products with anti-aging properties are growing rapidly. Avocado oil is known for its higher content of anti-oxidant chemicals that protect the skin from damage and help reduce skin wrinkles. Rising sales of beauty products with natural ingredients and consumer preference for avocado ingredients in cosmetics furthers the use of avocado extracts in cosmetics.
As an essential cooking ingredient, demand for edible oil has witnessed a meteoric rise in past decade, owing to the impact of interconnected macro and microeconomic factors. Despite comparatively higher cost of avocado oil, consumption levels have increased significantly, thanks to a rapidly growing health-conscious consumer base.
In addition to the health benefits of avocado oil, steadily growing demand for value-added food products has augured well for sales of avocado extract including avocado oil, wherein extra virgin avocado oil is witnessing a significant demand.
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Avocado Extract Market Likely to Inflict Positive Growth Trend during 2018-2027
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