The SAM avocado oil market is expected to grow from US$ 93.11 million in 2018 to US$ 190.24 million by 2027; it is estimated to grow at a CAGR of 8.4% from 2019 to 2027.
Avocado oil are perceived to be one of the healthiest ingredient which can be used in various food products such as bakery & confectionary, beverages, dairy & frozen desserts, and sweet & savory snacks. Avocado oil is gaining high popularity among the consumers due to rising awareness about the health benefits offered by avocado oil. Almost 70% of avocado oil consists of heart-healthy oleic acid, which is a monounsaturated omega-9 fatty acid. Various studies show that avocado oil benefits heart health and help in reducing blood pressure and blood cholesterol levels. Avocado oil is a good source of lutein, a carotenoid that is naturally found in eyes. This nutrient improves eye health and also lowers the risk of age-related eye diseases. Some nutrients need fat in order to be absorbed by the body. Therefore, rising awareness among the consumers about the health benefits of avocado oil is projected to boost its demand over the forecast period.
Based on nature, the extra virgin oil led the SAM avocado oil market in 2018. The extra virgin avocado oil is derived by pressing the Hass and the Fuerte type of avocado fruit and pressing it that has a strong aroma of avocado. The extra virgin avocado oil from the Hass cultivar has a smoke point of greater than 250 degrees Celsius making it suitable for frying. It is considered to be a healthful oil. The extra virgin avocado oil retains the flavor and the color of the fruit flesh after extraction. As this oil is extracted from the fruit that contains a high amount of fiber, healthy fats, potassium, and good guacamole, it becomes a preferred and healthy option as compared to other regular oils.
Brazil has the highest number of COVID-19 cases, followed by Ecuador, Chile, Peru, and Argentina. The governments in South America have taken an array of actions to protect their citizens and contain COVID-19’s spread. It is anticipated that South America would face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to China, Europe, and the US, which are important trade partners. Containment measures in several countries of South America are likely to reduce economic activity in the manufacturing and service sectors for at least the next quarter, with a rebound once the epidemic is contained.
The overall SAM avocado oil market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the SAM avocado oil market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the SAM avocado oil market. Key players operating in the market include Aconcagua Oil & Extract S.A.; Crofts ltd; Madana Inc.; Sesajal S.A. de C.V.; and Spectrum Organics Products, LLC (Hain Celestial Group, Inc.)