As cited by the research report titled ‘Global Extra Virgin Avocado Oil Market Size study, by Application (Food & Beverage and Cosmetic), by Distribution Channel (Supermarkets/Hypermarkets, Convenience Store and Online store) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global extra virgin avocado oil market is projected to grow with a strong CAGR to garner significant returns over 2021-2027.
 

Rising production of avocado is a major factor driving global extra virgin avocado oil market growth. As per Statista, the volume of avocado production rose significantly, from around 6.01 million metric tons in 2017 to 7.18 million metric tons in 2019.
 

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Moreover, growing consumer awareness regarding health benefits of extra virgin avocado oil, adoption of healthy lifestyle, augmenting e-commerce coverage and rising incidence of chronic diseases are generating lucrative opportunities for market development.
 

In addition, increasing product launches by manufacturers is also expected to propel the market remuneration over 2021-2027. For instance, Black & Green launched India's first extra virgin avocado oil in August 2019.
 

For the record, extra virgin avocado oil is produced using a cold-pressed extraction method with no heat or addition of chemicals. The oil retains its natural vitamins and antioxidant properties owing to the low amount of processing involved in manufacturing. It is rich in nutrients including vitamin E, potassium, monounsaturated fat, vitamin K, and vitamin C among others.
 

Speaking of the negatives, high cost of products and their short shelf life are expected to hinder market progression over the estimated timeline.
 

Based on application ambit, global extra virgin avocado oil industry is segmented into food & beverage and cosmetics. Considering distribution channel, the marketplace is categorized into convenience stores, supermarkets/hypermarkets, and online stores.
 

The geographical analysis of the industry involves regions like North America, Asia Pacific, Europe, and Latin America. North America is likely to be a lucrative growth avenue over 2021-2027, owing to growing prevalence of obesity and heart diseases along with high consumption of avocado in the region.
 

Meanwhile, Latin America market is expected to showcase a remarkable CAGR over the forecast duration, due to technological developments in avocado harvesting and increasing adoption of healthy lifestyle.
 

Prominent players influencing worldwide extra virgin avocado oil industry trends are Westfalia Fruit Products Pty Ltd., Olivado Ltd., Nobel Foods SA de CV, Mt. Kenya Fresh Avocados, Crofts Ltd., CalPure Foods Inc., Bella Vado Inc., Avocado Oil New Zealand Ltd., Aconcagua Oil & Extract SA, and Aceitera Mevi México SA De CV.