by The global Avocado Oil Market is estimated to be valued at US$ 1660.15 Mn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Avocado oil is a healthy edible oil extracted from the pulp of avocado fruit. It contains essential fatty acids, polyphenols, and antioxidants that provide several health benefits such as lowering cholesterol levels, reducing inflammation, and moisturizing skin. The growing health-conscious consumers are driving the demand for avocado oil as an alternative cooking oil.
Market key trends:
One of the major trends in the avocado oil market is its wide application in cosmetic and personal care industry. Avocado oil contains vitamins A, D, and E that help hydrate and nourish the skin. It is used in cosmetic products such as moisturizers, hair masks, and massage oils. Moreover, avocado oil reduces signs of aging and gives skin a youthful glow owing to the presence of antioxidants. The rising awareness about the skincare benefits of avocado oil among consumers is augmenting the demand from cosmetic industry.
Market Key Trends
One of the key trends in the avocado oil market is its increasing popularity as a healthy cooking oil. Avocado oil is extracted from the pulp of avocado fruit and is highly nutritious. It contains monounsaturated fatty acids that help lower bad cholesterol levels. Avocado oil also has a high smoke point which makes it suitable for sauteing and frying foods. Moreover, it adds a subtle flavor to foods. Owing to these properties, avocado oil is increasingly being used as a substitute for commonly used oils like olive oil and coconut oil in cooking applications.
SWOT Analysis
Strengths: Avocado oil is highly nutritious as it contains vitamins, minerals, and healthy fats. It has a mild flavor and high smoke point.
Weaknesses: Avocado oil has a relatively expensive price point compared to other vegetable oils. Its production is limited by availability of avocados.
Opportunities: Growing health consciousness is driving demand for healthy edible oils. Increasing use of avocado oil in beauty and personal care products also offers an opportunity.
Threats: Volatility in avocado supply due to climatic conditions and diseases poses a threat. Substitutes like olive oil also compete in the market.
Key Takeaways
The global avocado oil market is expected to witness high growth, exhibiting CAGR of 7.8% over the forecast period, due to increasing consumer preference for healthy cooking oils. The market size for 2023 is US$ 1660.15 Mn.
Regional analysis: North America is currently the largest and fastest growing regional market for avocado oil due to rising health consciousness. Mexico is the dominant producing country globally.
Key players operating in the avocado oil market are Sesajal S.A. de C.V., Olivado, Grupo Industrial Batellero S.A. de C.V, YASIN, Tron Hermanos SA de CV, The Village Press, Bella Vado, Chosen Foods LLC, and Storino’s Quality Products.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
