Demand for avocado has skyrocketed in the past half a decade which has created volatility in the avocado market, particularly lower field prices.
250 Pages Avocado Extract Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider
The unprecedented COVID-19 pandemic has affected the global economy to a great extent. Considering the food industry, one of the most important sectors of the economy, a tremendous impact has been witnessed on the entire process from the field to the consumer. The restrictions in the movement of workers, closure of food production facilities, and changes in consumer demand have put excessive pressure on the food industry.
The report offers actionable and valuable market insights of Avocado Extract. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Avocado Extract Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Avocado Extract market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Avocado Extract
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.
This newly published and insightful report sheds light on Market Insights of Avocado Extract, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Avocado Extract Market.
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Avocado Extract Market – Segmentation
The avocado extract market analysis included in the report is based on the thorough understanding of the avocado industry landscape.
Based on a thorough analysis, the avocado extract market is segmented based on extract type, source and application.
Based on extract type, the avocado extract market is segmented in oil, powder and puree. Based on source, the avocado extract market is segmented in hass, Fuertes and other sources.
Among different applications of the avocado extract, the market study covers food & beverage, cosmetics, dietary supplements and pharmaceuticals.
The avocado extract market analysis is carried out in key regions including North America, Latin America, Europe, Japan, APEJ and MEA.The regional analysis of the avocado extract market includes a thorough country-wise assessment in key countries.
Fact.MR report delivers notable insights on all the key avocado extract market players. Profiled players in the avocado extract market include
Consumption of avocado extracts is estimated to surpass 211 thousand tonnes in 2019, according to a new Fact.MR study. Besides avocado’s popularity as a fruit, demand for avocado has skyrocketed in past decades owing to its increasing utilization in multiple applications.
Fact.MR finds that demand for avocado powder is rising rapidly wherein volume consumption grew at nearly 8% in 2018. Avocado powder has made its way through the food industry as a super-food which allows the use of avocado fruit along with its nutritious qualities in food production.
“Avocado extract market closely follows avocado supply chain. Low farm prices as well as logistics and operational challenges associated with avocado continue to add volatility in the market. However, efforts to increase production capacities have strengthened the supply chain which is meeting the surging demand for avocado. Amid this scenario, the avocado market generated worth US$ 1.3 billion revenues in 2018,” says a senior analyst at Fact.MR.
Avocado Oil Accounts for Over Three-Fifth of Avocado Extract Consumption in 2018
The study opines that among different avocado extract products, avocado oil is highly consumed. Along with the health benefits, growing demand for edible oils and application in food & beverage and cosmetics industries are few of the important fillips responsible for the rising consumption of avocado oil.
In addition, rising consumption of packaged and processed foods also contributes to the rising demand for avocado oil which is one of the most widely used ingredients in processed food & beverage products.
Growing appetite for avocado has increased the number of avocado recipes in restaurant menus. In particular, demand for guacamole has surged considerably which, in turn, has increased utilization of avocado puree in commercial and home-based applications.
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Food and Beverage Industry Remains Lucrative Avenue, Application in Pharmaceutical Industry Rising Rapidly
Application of avocado extracts remains heavily consolidated in the food and beverage industry. Fact.MR estimates that nearly 35% of the avocado extract application in 2019 will be in the food and beverage industry. Rising consumer preference for natural ingredients in food products and clean label trend are fueling the utilization of avocado extracts in the food industry.
According to the study, consumption of avocado extracts in the pharmaceutical industry is growing at a healthy rate. Avocado extract consumption in pharmaceutical industry is estimated to grow at 7.1% y-o-y in 2019. Dissemination of knowledge regarding healthfulness of avocado and beneficial results in disease management present growing potential for avocado application in the pharmaceutical industry.
Cosmetics and dietary supplements are other lucrative avenues for avocado extract market as demand is estimated to rise steadily in the coming years. Avocado oil application in the cosmetics industry is traditional, however, consumer preference for avocado ingredients in natural beauty products is rising.
Avocado extracts produced from hass avocado variety are highly consumed across the globe. A favorable price point of hass avocado variety and predominant production of hass variety of avocado explains its significant volume share as compared to other avocado sources. Fact.MR finds that over 55% of the global avocado extract consumed are of hass avocado origin. However, increasing demand for locally produced avocado extract products is likely to witness growing demand for other sources of avocado extracts over traditional sources.
The study opines that Latin America will continue to hold its pole position in the avocado extract market. While hosting the largest avocado producing countries including Mexico, Peru, Columbia, the Dominical Republic, Argentina, Chile and Brazil, Latin America, one third of the global consumption was held by Latin America in 2018. North America follows Latin America in avocado extract consumption wherein market remains import-oriented with significant import from Mexico.
Key Question answered in the survey of Avocado Extract market report:
More Valuable Insights on Avocado Extract Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Avocado Extract, Sales and Demand of Avocado Extract, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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Aug 02, 2022
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