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Avocado Oil Market

Avocado Oil Market By Product (Extra-virgin Oil, Virgin Oil, Pure Oil, Blends Oil), By Application (Retail, Cosmetics & Personal Care, Medicinal), By Sales Channel (Modern Trade, Drug Stores, Online Stores), By Source (Hass, Fuertes) & By Region - Global Insights 2022 to 2032

Analysis of Avocado Oil market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Avocado Oil Market Outlook (2022-2032)

The global avocado oil market is expected to evolve at a CAGR of 5.5% and increase from its present value of US$ 556 million to US$ 950 million by the end of 2032.

North America, led by the United States, is set to dominate the global market throughout the forecast period. The North American avocado oil market garnered revenue worth US$ 272.21 million in 2021. Moreover, extra-virgin avocado oil is estimated to account for 44% share of global sales over the decade.

Report Attributes

Details

Avocado Oil Market Size (2022)

US$ 556 Million

Projected Market Value (2032)

US$ 950 Million

Global Market Growth Rate (2022-2032)

5.5% CAGR

North America Market Value (2021)

US$ 272.21 Million

Market Share of Extra-Virgin Oil (2022-2032)

44%

Key Companies Profiled

  • Sesajal S.A de C.V
  • Crofts Ltd
  • Westfalia Fruit (Pty) Ltd
  • The Village Press
  • Olivado Ltd
  • Tron Hermanos SA de CV
  • Cibaria International
  • Diricom S.A. de C.V

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Consumption Analysis of Avocado Oil (2016-2021) Vs. Market Forecasts (2022-2032)

The emergence of COVID-19 raised global public health awareness. Natural sources are increasingly in demand in the oil, food, and cosmetic industries. Essential oils serve an important role in stimulating the human sensory system. Furthermore, due to their health and skin benefits, these oils are used in a variety of therapeutic and medical sectors. Avocado oil is a highly recommended essential oil for its rich fiber, vitamins, and omega fats.

Avocado oil, unlike other oils, is produced from the pulp of the avocado fruit rather than the seed. Most fruits are abundant in carbohydrates; however, avocado is high in potassium, fiber, and healthy fats. Avocado has a rich texture, flavor, and guacamole.

The avocado fruit pulp contains about 30% oil, which comprises 20 different vitamins, including vitamins C, K, E, B6, & B5, oleic acid, and omega-9 fatty acids. Avocado oil is utilized in cooking oil as well as hair and skin care products due to its proven great health benefits.

The worldwide avocado oil market is likely to profit from the increased adoption of healthy lifestyles and heightened awareness about the health benefits of avocados.

Worldwide sales of avocado oil are anticipated to grow at a CAGR of 5.5% during the forecast period (2022 to 2032).

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Which Factors are Aiding Global Avocado Oil Market Growth?

“High Awareness Regarding Health Advantages of Avocado Oil”

The global avocado oil market is currently expanding at a consistent rate. The growing awareness of avocado oil's nutritional and health benefits is projected to fuel the growth of the global avocado oil market during the forecast period.

Customers are now willing to incorporate nutritional components into their daily dietary patterns as health consciousness grows around the world.

Moreover, the global prevalence of lifestyle diseases, such as cardiovascular disease, is increasing.

  • For example, in the United States over 600,000 people die each year as a result of heart disease.

Consequently, public awareness of health risks and appropriate preventative actions has grown in importance. Furthermore, scientists and medical specialists have researched natural remedies and cures for such chronic conditions. This has accelerated the research on avocado oil due to the health advantages linked with its usage.

Avocado oil is utilized in a variety of applications, including medicine, personal care, and cosmetics. It has acquired prominence in medicinal applications due to its numerous benefits, such as weight loss, better heart health, improved digestion, increased wound healing rate, skin radiance, and detoxification.

As a result, avocado oil usage is likely to rise during the forecast period, propelling the global avocado oil market.

“Rising Popularity of Plant-Based Personal Care & Cosmetic Products”

Plant-based personal care and cosmetic products are becoming increasingly popular among consumers. Growing awareness of the possible side effects of hazardous chemicals is a crucial aspect driving the sales of plant-based personal care and cosmetic products.

Avocado oil shines out as a good ingredient for usage in the creation of personal care and cosmetic products. Avocado oil penetrates the skin efficiently and has strong healing properties. Moreover, avocado oil is high in oleic acid and monosaturated fats, making it an excellent ingredient for hair care treatments.

Such dermatological advantages are anticipated to raise the demand for avocado oil in the cosmetic and personal care industry.

“Growing Demand for Clean-Label Products across the World”

The global avocado oil market is anticipated to benefit from the growing demand for clean-label products. Consumers are getting more interested in clean label categories than ever before and are rapidly shifting away from conventional equivalents.

The growing popularity of clean-label products in both packaged and fresh foods, such as sweets, salad dressings, frozen pizzas, and others, is projected to open up new prospects for key participants in the global avocado oil market.

“Rapidly Rising Demand for Edible Oil”

The expanding global population and need for various cooking oils primarily drive up the demand for edible oil. Consumers are exploring multiple kinds of edible oils that can be utilized for cooking as they become more aware of the health advantages of consuming vegetable oils.

Avocado oil is not only healthier, but it also tastes lighter and more refreshing than other vegetable oil. This makes it ideal for sautéing, stovetop grilling, and other recipes that call for vegetable oil.

Moreover, manufacturers are employing cutting-edge technological solutions to increase the nutritional content of edible oils, which is projected to drive up the demand for edible oils.

Furthermore, the expansion of the global retail sector, combined with an increase in consumer disposable income, is predicted to have a favorable impact on edible oil manufacturing and distribution around the world.

As a result, the rapidly rising demand for edible oils from the world's growing population is likely to bolster the growth of the worldwide avocado oil market during the forecast period.

“Ongoing Developments in Extraction Technology”

Avocado oil is highly appealing to the personal care, food, and pharmaceutical businesses, and it is gaining traction in other fields, such as environmental care and nanotechnology.

Recently, innovative supplemental technologies have been used to increase the quality and quantity of extracted products while decreasing pollution. These technologies include pressurized fluids, ultrasound-assisted oil extraction, and supercritical fluid extraction.

The global avocado oil market benefits from ongoing developments in extraction technology. Technological advancement positively impacts the oil's health profile and raises the performance bar with high prolonged shelf life.

Moreover, many energy-effective methods and technologies that help avocado extract have steadily been adopted.

Know thy Competitors

Competitive landscape highlights only certain players
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What Can Restrict Avocado Oil Market Growth to Some Extent?

“Increasing Availability of Counterfeit Products”

The increasing availability of counterfeit products on store shelves is expected to restrict the growth of the global avocado oil market during the forecast period.

  • According to statistics released by experts from the University of California (UC), Davis, the bulk of the product sold in the United States is either of poor quality, mislabeled, or tainted with other oils.

Country-wise Insights

Why Does the United States Dominate the North American Market?

North America is set to dominate the global avocado oil market during the forecast period. The North American avocado oil market garnered US$ 272.21 million in 2021. The United States is projected to lead the avocado oil market in North America during the forecast period.

Rising awareness about healthy lifestyles and growing interest in different dietary components, with an emphasis on fat, which has been linked to numerous ailments such as diabetes and obesity, are expected to boost the avocado oil market in the United States.

Moreover, the presence of prominent players such as Spectrum Organics Products and Olivado USA is projected to support the avocado oil market in the United States. These players are consistently expanding their product ranges, which is expected to aid the avocado oil market in the United States.

What is the Market Outlook for Avocado Oil in China?

The Asia Pacific avocado oil market is anticipated to experience considerable growth during the forecast period. China is expected to be the largest revenue generator in the avocado oil market in Asia Pacific.

China has recently begun large-scale avocado planting in Fujian, Yunnan, and Guangdong provinces.

  • According to the Chinese government, due to the easy availability of raw materials, China will expand its avocado oil production capacity in the coming years.

Such aspects are anticipated to spur the growth of the avocado oil market in China.

Category-wise Insights

Why is Extra-virgin Avocado Oil the Most Preferred?

The extra-virgin oil segment is projected to capture 44% of the global avocado oil market during the forecast period.

Extra-virgin avocado oil is a thick edible oil with an enticing dark green color and mild flavor obtained from the avocado fruit, generally by cold pressing, without undergoing any chemical or later processing.

Unlike other edible oils derived from seeds, extra-virgin avocado oil is identified as a high-quality oil with discernible texture, color, and flavor. These benefits, along with its excellent quality in cosmetics and food, boost its demand.

Competitive Landscape

Leading suppliers of avocado oil are aggressively pursuing marketing tactics such as new product developments, collaborations, technological innovations, R&D activities, investments, and acquisitions to broaden their worldwide exposure.

  • Jackson's Honest, a U.S.-based company, extended its snack assortment of sweet potato chips with new packaging in October 2021. In addition to the traditional Sea Salt with Coconut Oil chips, there are three new avocado oil flavors: Sea Salt, Carolina BBQ, and Spicy Tomatillo.
  • Vital Farms, situated in Austin, Texas, launched pasture-raised butter with avocado oil and sea salt in August 2021. This creamy and flavorful tub of butter is made from 100% pure avocado oil and sea salt.

Key Segments of Avocado Oil Industry Research

  • By Product :

    • Extra-virgin Oil
    • Virgin Oil
    • Pure Oil
    • Blends Oil
  • By Application :

    • Retail
    • Cosmetics and Personal Care
    • Medicinal
    • Other Applications
  • By Sales Channel :

    • Specialty Stores
    • Modern Trade
    • Drug Stores
    • Online Stores
    • Other Sales Channels
  • By Source :

    • Hass
    • Fuertes
    • Other Sources
  • By Region :

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

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The global avocado oil market is expected to reach US$ 950 million by 2032, expanding at a CAGR of 5.5% from 2022 to 2032.

The global market for avocado oil is valued at US$ 556 million in 2022.

Increased adoption of healthy lifestyles and growing awareness about the health benefits of avocado oil are key factors driving global market expansion.

North America is set to dominate the worldwide market for avocado oil.

Extra-virgin oil is expected to hold the largest market share of 44%.

Sesajal S.A de C.V., Crofts Ltd., Westfalia Fruit (Pty) Ltd., The Village Press, Olivado Ltd, Tron Hermanos SA de CV, Cibaria International, and Diricom, S.A. de C.V are key manufacturers of avocado oil.

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