TAGS: Sustainability / Natural Cosmetics
Skin Care
Hair Care
According to a new report by Transparency Market Research, the global avocado-based products market is projected to rise at a CAGR of 5.3%, to cross USD 9.95 Bn by 2031. With the highest market value share of 36.1%, revenue generated from the Latin America market is estimated to value over USD 5.95 Bn in 2021.
Improves Skin and Hair Health
The cosmetic segment is expected to be the beneficiary segment, owing to the ever-increasing consumer attentiveness for avocado-based products for skin and hair health products. Avocado-based products are commonly used in the formulation of moisturizers, DIY hair masks, and other beauty products,
sunscreen products, skin cleansers, and hair products.
The demand for avocado-based products is being boosted by the growing need for natural and pure ingredients. The demand for avocado-based products, such as oils, in the cosmetic industry, is also driven by their aesthetic benefits. Considering good skin penetration and high vitamin content, the avocado oil has seen upsurge growth in these products.
Owing to characteristics such as rising disposable incomes and innovative food products, the foodservice industry has seen enormous expansion over the last decade. Europe and North America are estimated to be major markets for avocados and their by-products. These factors are expected to create lucrative opportunities for the key players by widening their portfolios with innovation in avocado-based products.
Source: Transparency Market Research