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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Latin America Avocado Oil Market Outlook
The Latin America avocado oil market reached a value of about USD 211.56 million in 2023. The market is estimated to grow at a CAGR of 5.8% in the forecast period of 2024-2032. The market is anticipated to reach a value of USD 299.99 million by 2032.
| Latin America Avocado Oil Market Report Summary | Description | Value |
| Base Year | USD Million | 2023 |
| Historical Period | USD Million | 2018-2023 |
| Forecast Period | USD Million | 2024-2032 |
| Market Size 2023 | USD Million | 211.56 |
| Market Size 2032 | USD Million | 299.99 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 5.8% |
| CAGR 2024-2032 - Market by Region | Mexico | 6.4% |
| CAGR 2024-2032 - Market by Region | Others | XX% |
| CAGR 2024-2032 - Market by Application | Pharmaceuticals | 6.4% |
| CAGR 2024-2032 - Market by Distribution Channel | Business to Consumers | 6.4% |
| 2023 Market Share by Application | Food and Beverages | 63.4% |
Mexico to be a Significant Regional Market for Avocado Oil in Latin America
Mexico is expected to be one of the leading regional markets for avocado oil in Latin America. The growth of the avocado oil market in Mexico can be attributed to the rising prevalence of diabetes, obesity, cardiovascular diseases, and other chronic diseases in the country. The outbreak of the COVID-19 pandemic further provided an impetus to the market, owing to the significant growth of the pharmaceutical industry. Meanwhile, the growing food and beverage industry also aided the market, as avocado oil is a great immunity booster and has a high nutritional value. Avocado oil contains healthy fat. Therefore, even as the consumer preference shifted towards a healthier diet, avocado oil remained in demand.
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Avocado Oil: Market Segmentation
Avocado oil is a healthy edible oil with a high smoke point, which makes it popular as a cooking oil. The oil can also be consumed raw and has a similar nutritional content as olive oil. It is extracted from the avocado pulp. While avocado oil is extensively used for baking, deep-frying, stir-frying, barbecuing, searing, roasting, and sauteing, it is also used in cosmetics and lubricants.
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By product type, the market can be segmented into:
- Extra Virgin Oil
- Refined Oil
- Blends
- Others
Based on application, the industry can be divided into:
- Food and Beverages
- Cosmetics
- Pharmaceuticals
- Others
| CAGR 2024-2032 - Market by | Application |
| Pharmaceuticals | 6.4% |
| Food and Beverages | 6.1% |
| Cosmetics | XX% |
| Others | XX% |
On the basis of distribution channel, the market can be categorised into:
- Business to Business
- Business to Consumer
- Supermarkets and Hypermarkets
- Convenience Stores
- Online
- Others
| CAGR 2024-2032 - Market by | Distribution Channel |
| Business to Consumers | 6.4% |
| Business to Business | XX% |
The regional markets for avocado oil in Latin America can be divided into Brazil, Mexico and Argentina others.
| CAGR 2024-2032 - Market by | Country |
| Mexico | 6.4% |
| Brazil | XX% |
| Argentina | XX% |
| Others | XX% |
Rising Awareness of the Health Benefits of Avocado Oil to Propel the Market Growth
The avocado oil market witnessed a surge in growth, owing to the increased awareness of the benefits about the product. Avocado oil is a good source of glutathione, which boosts the immune system. The rising awareness about the nutrient-rich composition of the product, the positive perception among the health experts, and the healthy lifestyle pursued by people of Latin America are some of the factors likely to drive the market in the forecast period. The thriving pharmaceutical industry is expected to further aid the market growth, owing to the medicinal properties of the product. Moreover, the food and beverages sector is witnessing the development of diverse varieties of products, including dishes made with refined avocado oil. This is expected to significantly boost the market significantly in the next few years.
| 2023 Market Share by | Application |
| Food and Beverages | 63.4% |
| Cosmetics | XX% |
| Pharmaceuticals | XX% |
| Others | XX% |
The market is expected to register a substantial growth in the forecast period. The COVID-19 pandemic has increased the health awareness among the people. Since extra-virgin avocado oil is considered a healthy oil and preferred over regular oils, the market is expected to be bolstered by its robust demand in the coming years.
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Key Players in the Latin America Avocado Oil Market
The report gives a detailed analysis of the following key players in the Latin America avocado oil market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- SESAJAL SA de CV
- NOBEL FOODS, S.A. DE C.V
- Grupo MaDiVi SA de CV
- Diricom, S.A. de C.V.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
|
| Breakup by Application |
|
| Breakup by Distribution Channel |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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Latin America Avocado Oil Market Report Snapshots
Latin America Avocado Oil Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the Latin America avocado oil market attained a value of nearly USD 211.56 million.
The market is projected to grow at a CAGR of 5.8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 299.99 million by 2032.
The market is driven by the changing consumer buying patterns owing to the surging health consciousness, and the rising prevalence of obesity, diabetes, cardiovascular diseases.
The key trends in the market include the rising awareness of the benefits of avocado oil, the growing demand for healthy food, and the increasing use of avocado in pharmaceuticals.
The major regions in the market include Brazil, Mexico and Argentina, among others.
The various product types of avocado oil in the market are extra virgin oil, refined oil, and blends, among others.
The various applications of avocado oil are food and beverages, cosmetics, and pharmaceuticals, among others.
The major applications of avocado oil are food and beverages, cosmetics, and pharmaceuticals, among others.
The key 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.
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