Health awareness has increased due to the prevalence of chronic diseases and heart-related disorders as a result of improper diet and lifestyle. The production of essential oils now offers health benefits that are able to treat several health problems, and because of its popularity, the global avocado oil market is expected to witness an improvement in coming years.
Sales of avocado oil in various applications across the globe are expected to surpass an estimate of $1,700m. Moreover, the global avocado oil market is projected to expand at a volume CAGR of 6.7% through 2026.
Manufacturers involved in the production of avocado oil are adopting various expansion strategies to increase their foothold in the market and expanding on their product lines to gain penetration into foreign markets as products and industry collaboration is creating a beneficial target market for avocado oil.
Changing lifestyle and dietary habits of consumers across the globe are causing rising demand for easy-to-cook or ready-to-eat food products. As packaged and processed food products are convenient to carry, cook, preserve, and eat; consumers prefer to purchase these products over fresh foods. Advanced technologies are being employed by the manufacturers to improve taste, colour, flavour and nutritional values of processed foods, which supports the industrial growth prospect.
Increasing consumer demand for a variety of packaged foods and beverages are mainly contributing to the growth of the food industry. Avocado oil is one of the main ingredients; high consumption of processed food products and beverages is expected to trigger the growth of the global avocado oil market in the future. View the full market and segmentation research results conducted by Fact.MR here.