Avocado-based Products Market: Introduction
A recent study published by Transparency Market Research on the global market for avocado-based products includes North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East & Africa industry analysis and opportunity assessment for 2021-2031. With the highest market value share of 36.1%, revenue generated from the Latin America market is estimated to value over US$ 5.95 Bn in 2021, which is projected to rise at a CAGR of 6.1%, to cross US$ 9.95 Bn by 2031.
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Increased Use of Avocado-based Products in Cosmetics & Personal Care Industry to Bolster Demand
The cosmetic segment is expected to be the beneficiary segment, owing to the ever-increasing consumer attentiveness for avocado-based products for skin and hair health products. Avocado-based products are commonly used in the formulation of moisturizers, DIY hair masks, and other beauty products, sunscreen products, skin cleansers, and hair products.
The demand for avocado-based products is being boosted by the growing need for natural and pure ingredients. The demand for avocado-based products such as oils, in the cosmetic industry, is also driven by their aesthetic benefits. Considering good skin penetration and high vitamin content, the avocado oil has seen upsurge growth in these products.
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Avocado Health Ltd, Westafalia Fruit are few of the well know companies, which deals in avocado-based products such as avocado pulp, Puree, and avocado oil
Specialty Avocado Oils, Oil Blends Driving Edible Oil Demand
Nowadays, consumers are preferably choosing nutrient-dense and heart-healthy food products. Considering the priority of consumers toward physical and mental health, they are more likely to choose such products that have more quality and purity. In order to get the purpose solved, consumers around the globe are moving towards avocado-based healthy food products. Avocado oil is one of them, which is a prominent source for accessible and ideal nutrients.
Avocado oil is a rich source of dietary fibers, which ameliorate body performance and aids in weight management. Avocado oil is an affluent source of skin and hair nourishing vitamin D, E, and K. The vitamin C content of avocado oil boosts the immune system while vitamin B eases eczema symptoms. The carotene, beta, oleic acid, and protein composition of avocado oil slows down aging signs by increase collagen metabolism.
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The U.S.-based Connoils company deals in avocados and produces avocado oilfor use in essential oils and beauty products
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Developed Economies to Offer High Growth Opportunities for Avocado-based Products Market
Owing to characteristics such as rising disposable incomes and innovative food products, the foodservice industry has seen enormous expansion over the last decade. Europe and North America are estimated to be major markets for avocados and their by-products. These factors are expected to create lucrative opportunities for the key players by widening their portfolios with innovation in avocado-based products.
The developed economies such as Europe and North America can adapt to the frequently changing trends in the food & beverage industry. This might result in a robust demand for avocado-based products. The demand for avocado-based products is going to upsurge shortly, as these developed economies serve the biggest market for avocados.
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eCommerce to Provide Higher Sales Opportunities for Avocado-based Products Market
Modern consumers have been constantly updating themselves while buying food products. Consumers are finding more easier and convenient ways to buy any products. The technology has provided the consumers to buy products at their fingertips. Looking at the large response for eCommerce, several manufacturers have started selling their products on eCommerce platforms to offer more convenience their customers.
This opportunity is being availed by the key players of avocado-based product manufacturers. Moreover, these companies are continuously making effort to increase their business through eCommerce platforms. With major portfolio’s these companies are selling avocado-based products via eCommerce websites such as Amazon, Walmart, etc. Major companies are providing attractive offers for their customers to increase the sales of avocado-based products through the website.
