Avocado oil is extracted from the fruit of Persea Americana tree through cold pressing. It has a unique texture and flavor that makes it suitable for culinary as well as cosmetic applications. In the food industry, avocado oil is used as a cooking oil and in salads due to its high smoke point. It is also used in various savory dishes, baked goods and spreads owing to its buttery taste. cosmetically, avocado oil is popular as a carrier oil in moisturizers and hair products due to its absorption properties and nourishing fatty acids.

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 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The Global Avocado Oil Market Size is expected to witness significant growth over the forecast period, driven by its wide application range across various industries. The growing health consciousness among consumers has increased the demand for healthy edible oils with desired nutrient profiles. Avocado oil meets this demand well due to presence of monosaturated fatty acids and vitamin E. This is expected to boost the avocado oil market growth during the forecast period. Additionally, rising scope of avocado oil in cosmetic and personal care industry as carrier oil has also augmented the product demand in recent years.

SWOT Analysis

Strength:
- Avocado oil contains high amounts of monounsaturated fatty acids that are beneficial for heart health which boosts demand from health-conscious consumers.
- It has a high smoke point, which makes it ideal for cooking at high temperatures without burning or losing nutritional value.
- Growing awareness about the nutritional and health benefits of avocado oil is driving consumers towards it which is increasing sales.

Weakness:
- Avocado supply and production faces significant challenges from weather conditions, disease, and environmental factors which causes fluctuations in price and supply.
- It has a low shelf life of around six months which creates challenges for storage and transportation when compared to other vegetable oils.

Opportunity:
- Rising health and wellness trends in developed regions are creating strong growth opportunities for nutrient-rich culinary oils such as avocado oil.
- Growing consumption of Latin American cuisines which extensively use avocado oil is expanding the market in non-producing regions.

Threats:
- Presence of various substitutes such as olive oil in the edible oil market poses competitive threats to avocado oil.
- Climatic changes and increasing frequency of extreme weather events threatens avocado production levels.

Key Takeaways

The global avocado oil market is expected to witness high growth. 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 5.3% over the forecast period 2023 to 2030.


The North American region currently dominates the avocado oil market and is expected to witness significant growth over the forecast period. The high consumption of avocado as well as the increasing use of avocado oil in various food applications are major factors driving growth. Furthermore, the rising awareness among consumers about the health benefits of avocado oil is also fueling market growth in the region.

Key players:

Key players operating in the avocado oil market are 3M Company, Turtle Wax, Inc., Meguiar's, Inc., Simoniz USA, Inc., WD-40 Company, Quixx GmbH, Langka Corporation, Scholl Concepts GmbH, Würth Group, BARDAHL Manufacturing Corporation, Gtechniq Ltd., Mothers Polishes, Waxes and Cleaners, SONAX GmbH, Chemical Guys, Surf City Garage. Major players are focusing on business expansion and new product launches catering to the rising demand.

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