The Asia Pacific avocado oil market continues on its upward trajectory, with many regions witnessing growing demand on account of growing ‘health and wellness’ trend. According to a new report on avocado oil market, Asia Pacific is likely to witness steady growth over the course of the forecast period, whereas Australia is likely to be one amongst the main exporters of avocado along with Singapore. Demand for avocado is gaining ground at a steady pace in SEA, with Malaysia emerging as a key export destination. The demand for avocado oil in Asia Pacific is complemented by surging applications in the cosmetics industry. The APAC avocado oil market is likely to grow at a healthy pace, on account of these macroeconomic and industry-specific developments.
Manufacturers in Asia Pacific avocado oil market have been implementing several technological advancements in the production of avocado, which in turn helps in increasing the yield, thereby reducing pest impacts. In addition, manufacturers that are involved in the manufacturing of avocado oil have been focusing on strategic alliances and acquisition for the purpose of enhancing their product lines. Asia Pacific avocado oil market is likely to gain significant traction as the food processing companies across the globe are planning to set up their manufacturing base, thereby incorporating the avocado oil as the main ingredient in packaged and processed food products.
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Rapidly increasing health problems such as chronic disorders, heart diseases as well as associated cardiovascular problems on account of poor lifestyle and higher consumption of fats has been further driving the Asia Pacific avocado oil market. According to WHO, over-weight and obesity problems have been the main cause of increasing mortality rates. Therefore, growing health trends together with rising awareness with regards to consumption of the healthy vegetables and fruits like avocados enable in reducing cholesterol level as well as triglycerides, thereby creating growth avenues for avocado oil.
Fact.MR opines that the global avocado oil market is likely to grow at a CAGR of 7.6% CAGR over the assessment period, 2017-2026. Surging need for healthy diet with increasing awareness related to the benefits of avocado oil has been driving the global market on a larger basis. Mexico is likely to turn a lucrative nation for demand and supply of avocado oil on account of increasing international and domestic demand for the Hass avocado oil. Moreover, Mexico is regarded as the largest supplier and producer of avocados, which in turn continues to create growth avenues for avocado oil market.
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Innovations in medical science as well as advances in food nutrition has enabled the production of essential oils such as avocado oils, which provides enormous benefits and are also utilized for treating various health problems.
Global consumption of avocado oil has been increasing on a constant basis owing to improving trade relations of various regions with Central America. Latin America is expected to hold a significant share in the avocado oil market during the forecast period. Growing awareness regarding a healthy lifestyle is expected to fuel the consumption and demand for avocado oil in Latin America. Avocado oil market on a global basis has been witnessing increasing demand from personal care products and cosmetics industry owing to factors such as reduces weight, enhances skin glow, digestion, carries out detoxification and improves heart health as well.
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