- In September 2018, Australia’s biggest avocado farm owner, Simpson Farms announced the sale of its farm business. The company annual revenues were to the tune of nearly US$ 75 million through the sale of over 1.5 million avocados. The farm that produces these avocados is expected to be sold for between US$ 250 to 300 million.
- In February 2018, Costa Group announced the acquisition of Coastal Avocados farms in New South Wales. The acquisition was made in partnership with Macquarie Agricultural Funds Management who will own the forms and Costa will operate them. The acquisition is aimed at Costa’s goal to achieve 1,000 hectares and 52-week supply annually.
- In October 2018, Mexico avocado growers went on 16 days strike in protest of low field prices and other issues. Due to the strike, weekly shipments plummeted significantly from 40 million in the week of 28 October to 4.8 million two weeks later. While 78% of the Hass avocados were shipped in the U.S. from Mexico in 2017, the effect of the shortage reached U.S. restaurants forcing owners to remove avocados and guacamole from menus.
- In the second quarter of 2018, avocado prices witnessed a dramatic fall in Europe. The prices of avocado dropped to one third within a year span, according to the Ministry of Agriculture, Fisheries and Food (MAPAMA) in Spain. Despite the increased annual consumption capacity, increased production in Peru and South Africa, prominent avocado importers in Europe has led to market saturation and downfall in avocado prices.
- In Australia, despite the increased production capacity, higher prices of avocados continue amid exponentially rising demand. The year 2018 remained a high priced avocado year for the avocado industry – the scenario has led the Avocado Australia and Hort Innovation to work towards enhancing domestic production as well as expand domestic and international markets.
- Columbia became the member of the World Avocado Organization (WAO) whose current member countries include Mexico, Peru, the US, South Africa, Tanzania, Zimbabwe, Mozambique and Spain. The announcement was made in the Asia Fruit Logistica 2018 in September. With the WAO membership, Columbia will increase supply in the European avocado market.
Fact.MR report delivers notable insights on all the key avocado extract market players. Profiled players in the avocado extract market include
- Simpson Farms
- Crofts Limited
- Olivado Ltd
- Avocado Global Pte Ltd
- Salud Food Group
- Avocado Oil De Mexico
- Indigo Herbs
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Tier 3 Players Show Stronger Foothold in Avocado Extract Market
Tier 3 players in the avocado extract market have a significant penetration in domestic markets.
Avocado extract products manufactured by these players are preferred across multiple applications, owing to end-user sentiment to buy locally produced avocado extract products such as oil, powder and puree.
Olivado Ltd., Indigo Herbs, Markon and other players are categorized as Tier 3 companies whose focus remains differentiated food offerings.
For Instance, Olivado Ltd. is a leading provider of extra virgin cold pressed avocado oil whereas Indigo Herbs delivers organic avocado powder.
With their unique approach of market sustenance, Tier 3 players hold over half the volume share in the avocado extract market.
Supply Chain Challenges Impede Avocado Stockpiling
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.
Moreover, the duration of avocado ripening depends on the harvesting time and post-harvest environment.
Further, the fruit requires end-to-end monitoring during shipping and storage. In addition to the field price challenges, unique harvesting process and requirement of the cold chain while transportation further complicates the supply chain.
The delicate supply chain is vulnerable to changes that may affect the stock used in the production of different avocado extract products.
Growing Avocado Demand from Cosmetics Industry Represents an Opportunity
Consumer spending on products with natural ingredients has increased significantly. The trend has fuelled the sales of consumer products with avocado ingredients.
Further, the positive consumer sentiment about avocados as a healthy food is rubbing off on its growing adoption by cosmetic manufacturers.
Avocado oil is known for its higher penetration in the skin tissue and is a highly used ingredient in nourishing creams, massage oil, massage cream and other lubricating lotions.
Sales of beauty products with anti-aging properties are growing rapidly. Avocado oil is known for its higher content of anti-oxidant chemicals that protect the skin from damage and help reduce skin wrinkles.
Rising sales of beauty products with natural ingredients and consumer preference for avocado ingredients in cosmetics furthers the use of avocado extracts in cosmetics.
Surging Demand for Edible Oils with Value-Add Benefits Amplifying Avocado Oil Consumption
As an essential cooking ingredient, demand for edible oil has witnessed a meteoric rise in past decade, owing to the impact of interconnected macro and microeconomic factors.
Despite comparatively higher cost of avocado oil, consumption levels have increased significantly, thanks to a rapidly growing health-conscious consumer base.
In addition to the health benefits of avocado oil, steadily growing demand for value-added food products has augured well for sales of avocado extract including avocado oil, wherein extra virgin avocado oil is witnessing a significant demand.
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Healthfulness of Avocados – A Primary Demand Booster of Avocado Extract Market
The popular health and fitness trend is fueling the demand for various avocado extract products. As compared to other fruits, avocados are superfluous with minerals and other contents that have higher health value.
Avocado contains a number of vitamins including vitamin E, C, K and B vitamins such as riboflavin, niacin, folate, pantothenic acid and B6.
In addition, they also contain smaller concentrations of magnesium, potassium, copper, iron, zinc and phosphorous.
Avocados have high contents of lutein, zeaxanthin and beta-carotene. Further, avocados have omega-3 fatty acids which are helpful in relieving joint pain.
High fiber is another beneficial content in avocados that help in weight loss and enhancement of metabolic health.
Avocado Extract - Definition
Avocado extract is obtained from the fruit of Persea Americana (avocado) and its varieties that are cultivated in Tropical and Mediterranean climates across the globe. The avocado extract can be in the form of oil, powder or puree.
The avocado extracts that are extracted forms of avocado contains essential minerals with health benefits.
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Avocado Extract Market – About the Report
Fact.MR has compiled a study on the avocado extract market and published a report titled, “Avocado Extract Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2027.”
The avocado extract market report covers all the important market facets that hold significant influence on the growth of the avocado extract market during the forecast period.
The avocado extract market analysis included in the report is carried out for the historical period 2013-2017 and forecast period 2017-2027.
Avocado Extract Market – Additional Questions Answered
In addition to the aforementioned insights, the avocado extract market report includes an in-depth analysis of all the important facets of the avocado extract market.
A thorough analysis as such can answer some of the bemusing questions of the business professional interested in the avocado extract market.
- What will be the revenue generated by the avocado extract market in 2019?
- Which application will register highest consumption of avocados during the forecast period?
- What is the impact of the evolving supply chain on the future growth of the avocado extract market?
- Which source of the avocado extract will be highly preferred during the forecast period?
- Which region present lucrative opportunities in the avocado extract market in the future?
Avocado Extract Market – Research Methodology
A robust research methodology followed during the course of the avocado extract market study is discussed in this section. Different approaches used to carry out the research of avocado extract market is covered in this section.
The primary and secondary research approaches used to perform avocado extract market analysis is explained thoroughly in this section.
Primary research of the avocado extract market includes interviews with industry savants and domain-specific analysts.
Secondary research of the avocado extract market includes an in-depth study of published data, company press releases and other industry validated information.
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.
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