Packaged Food Segment driving the growth of Avocado Oil Market
One of the major trends driving the growth of the avocado oil market is its increasing popularity and usage due to various health benefits. Avocado oil is high in monounsaturated fatty acids and polyhydroxylated fatty alcohols, which have anti-inflammatory properties. It also contains vitamins A, D, E and K along with minerals like potassium, magnesium and folate. The oil also contains phytochemicals that help reduce cholesterol levels and protect against heart disease. Due to these nutritional advantages, avocado oil is increasingly being used as a cooking alternative to other vegetable oils. The rising health and wellness trend has further boosted the product demand globally over the forecast period.
The global avocado oil market is expected to witness high growth at a CAGR of 7.8% over the forecast period, due to increasing awareness about the health benefits of avocado oil. Mexico dominates the avocado oil market with a share of over 30% in 2023, owing to large avocado production. California and Chile are other major markets growing rapidly.
Regionally, North America leads the avocado oil market with over 40% share in 2023 owing to high avocado consumption, especially in the US. Asia Pacific exhibits bright prospects due to changing lifestyles and diets in countries like India and China.
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. The players are focused on business expansion and new product launches catering to consumer preference for organic and cold-pressed avocado oil.
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