Latin America Avocado Oil Market to Grow at a CAGR of 5.8% During 2024-2032, Aided by Rising Health Consciousness

Numerous health benefits associated with the consumption of avocado oil are fuelling the market growth. The surging demand for healthy oil, which can aid in reducing blood pressure and blood cholesterol level, is propelling the market growth. Moreover, the increasing eye-related issues owing to the extensive use of smartphones and computers are escalating the demand for avocado oil, which is a good source of lutein and improves eye health, consequently boosting the industry growth. Moreover, the looming threat of the second wave of the coronavirus pandemic and the deteriorating healthcare infrastructure in various countries are increasing the demand for immunity boosting healthy foods, hence augmenting the growth of the avocado oil industry. In addition, rapid urbanisation and the emergence of the middle class are increasing the demand for various by-products of superfoods such as avocado, further catalysing the market growth.

Some of the major players of the industry are Hain Celestial Group (NASDAQ: HAIN) and SESAJAL SA de CV. In July 2017, SESAJAL SA de CV acquired majority ownership of Chosen Foods, LLC, which is among the fastest-growing food brands in North America and a global brand of refined avocado oil. The acquisition would combine avocado oil in various manufacturing companies and further contribute to the growth of the company. It would also increase the prevalence of clean label products by providing products with an intersection of functionality, flavour, and on-trend health attributes. Moreover, the merger would aid the company’s position for continued growth while maintaining continuity of culture and ethics. Some developments are expected to bolster the industry growth in the forecast period.

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Market Analysis by Product Type, Application, Distribution Channel, and Region:

• The market, on the basis of product type, can be divided into extra virgin oil, refined oil, and blends, among others.

• Based on application, the industry can be divided into food and beverages, cosmetics, and pharmaceuticals, among others.

• The distribution channels for avocado oil include business to business, and business to consumers.

• The regional markets for avocado oil include Mexico and others.

Key Findings of the Report:

• Numerous health benefits associated with avocado are increasing the demand for avocado oil, consequently aiding the market growth.

• The market is being driven by the surging health consciousness owing to the rising prevalence of various health-related issues.

• The growing use of avocado oil in the thriving pharmaceutical industry owing to the coronavirus pandemic is propelling the industry growth.

• The robust growth of the food and beverage industry and the rising demand for healthier alternatives for oily dishes are augmenting the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the Latin America market for avocado oil for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the product types, applications, distribution channels, and regions of avocado oil.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the Latin America avocado oil market are SESAJAL SA de CV, NOBEL FOODS, S.A. DE C.V, Grupo MaDiVi SA de CV, and Diricom, S.A. de C.V., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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