Report : Europe Avocado and Avocado Derivatives Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Whole, Oil, Puree, and Others), Category (Organic and Conventional), and Application (Food & Beverages, Pharmaceuticals & Nutraceuticals, Personal Care, and Others)
At 4.4% CAGR, the Europe Avocado and Avocado Derivatives Market is speculated to be worth US$ 3,051.78 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe avocado and avocado derivatives market was valued at US$ 2,357.97 million in 2022 and is expected to reach US$ 3,051.78 million by 2028, registering an annual growth rate of 4.4% from 2022 to 2028. Demand from Personal Care Industry and strategic development initiatives by manufacturers are the critical factors attributed to the Europe avocado and avocado derivatives market expansion.
Avocado extracts have been studied for their skin-healing properties as they are enriched with lecithin and phytosterols. It is comparable with lanolin due to its good skin penetration ability, high vitamin content, low odor, and excellent shelf life. Avocado extracts produce finer emulsions in products such as skin creams and lotions. Moreover, avocado oil is one of the most penetrating oils, and its skin tissue penetration ability is rated similar to lanolin. It, thus, serves as a "carrier" for other substances that lack penetrating ability. Owing to this property, avocado oil is used in nourishing creams, massage creams, all-purpose creams, massage oils (muscle oils), and other preparations facilitating penetration and lubrication. Plant-based cosmetics and toiletries are gaining significant popularity worldwide, further contributing to the demand for avocados in the personal care industry. Avocados are incorporated into a wide range of skincare and hair-care products, including hair conditioners, face creams, hand lotions, and bath oils. The rising disposable income also favors the proliferation of cosmetics and personal care industries. Thus, the flourishing cosmetics and personal care industries bolster the Europe avocado and avocado derivatives market.
On the contrary, high prices of avocado and availability of substitutes of avocado products at lower costs hurdles the growth of Europe avocado and avocado derivatives market.
Based on type, the Europe avocado and avocado derivatives market is segmented into whole, oil, puree, and others. The whole segment held 46.2% market share in 2022, amassing US$ 1,088.53 million. It is projected to garner US$ 1,379.57 million by 2028 to expand at 4.0% CAGR during 2022–2028.
Based on category, the Europe avocado and avocado derivatives market is bifurcated into organic, and conventional. The conventional segment held 84.0% market share in 2022, amassing US$ 1,979.57 million. It is projected to garner US$ 2,522.88 million by 2028 to expand at 4.1% CAGR during 2022–2028.
Based on application, the Europe avocado and avocado derivatives market is segmented into food and beverages, pharmaceuticals and nutraceuticals, personal care, and others. The food and beverages segment held 50.6% market share in 2022, amassing US$ 1,193.11 million. It is projected to garner US$ 1,509.03 million by 2028 to expand at 4.0% CAGR during 2022–2028.
Based on country, the Europe avocado and avocado derivatives market is segmented into Germany, France, Italy, UK, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 31.3% market share in 2022. It was assessed at US$ 738.99 million in 2022 and is likely to hit US$ 901.50 million by 2028, exhibiting a CAGR of 3.4% during the forecast period.
Key players dominating the Europe avocado and avocado derivatives market are Avocado Brasil Comercio de Alimentos Ltda, ConnOils LLC, Exportadora Propal SA, Lemonconcentrate SLU, Meridian Fruits SPR de RL de CV, Mission Produce Inc, Salud Foodgroup Europe BV, and Westfalia Fruit Pty Ltd among others.
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