The global avocado oil market was worth USD 585.08 million in 2022. It is expected to reach USD 915.08 million by 2030 with a CAGR of 5.75% over the period from 2023 to 2030.
The avocado oil market is a significant segment within the global edible oils industry, characterized by the extraction and distribution of oil derived from avocado fruit. Avocado oil, known for its rich flavor, nutritional benefits, and versatility, has gained popularity among health-conscious consumers, culinary enthusiasts, and cosmetic manufacturers worldwide. The market encompasses various products, including virgin avocado oil, refined avocado oil, and extra virgin avocado oil, catering to diverse end-user applications such as cooking, salad dressings, skincare products, and pharmaceuticals. With the increasing consumer awareness about the health benefits of avocado oil, coupled with the rising demand for natural and organic ingredients, the avocado oil market is experiencing steady growth and expansion.
Leading Companies Operating in the Global Avocado Oil Industry:
Spectrum Naturals (United States),Chosen Foods LLC (United States),La Tourangelle (United States),NOW Foods (United States),Avohass (United States),Olivado (New Zealand),Crofts Ltd. (United Kingdom),Bio Planète (France),Olivado (New Zealand),Bella Vado Avocado Oil (United States),Olivado (Kenya),Avocado Oil New Zealand Ltd. (New Zealand),Avocado Oil De Mexico (Mexico),CalPure Foods (United States),Kahangi Estate (Uganda),Ahuacatlan (Mexico),Olivado (Australia),Matutum Oil Mill and Refinery (Philippines),Olivado (Spain),Storino's Quality Products (United States),The Village Press (New Zealand),The Avo Tree (Australia),Grove Avocado Oil (New Zealand),Lypack (Netherlands),Da Gama Avocado Oil (South Africa).
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The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type. This section mentions the volume of production by region. Pricing analysis is included in the report according to each type from the year, manufacturer, region, and global price.
Global Avocado Oil Market Trend Analysis:
Market Driver:
One significant driver in the avocado oil market is the growing demand for healthy cooking oils and natural skincare ingredients. As consumers become more health-conscious and seek alternatives to traditional cooking oils and skincare products, there is a rising interest in avocado oil due to its high monounsaturated fat content, antioxidants, and vitamins. Avocado oil is perceived as a healthier option compared to other cooking oils such as vegetable oil or canola oil, as it is rich in oleic acid, which may help reduce the risk of heart disease. Additionally, avocado oil's moisturizing and anti-inflammatory properties make it a popular ingredient in natural skincare formulations. The increasing demand for healthier and natural products is thus driving the growth of the avocado oil market.
Market Opportunity:
An emerging market opportunity lies in the development of value-added avocado oil products and the expansion of market reach to new geographic regions. While avocado oil has gained popularity in regions such as North America and Europe, there is potential for market expansion in Asia-Pacific, Latin America, and other emerging markets. Manufacturers have the opportunity to innovate and diversify their product offerings by introducing flavored avocado oils, organic avocado oils, and avocado oil-based functional food and cosmetic products. Furthermore, partnerships with retailers, online platforms, and health and wellness companies can help increase market visibility and accessibility, tapping into new consumer demographics and preferences.
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Global Avocado Oil Market Segment Analysis:
By Type
· Extra Virgin Oil
· Virgin Oil
· Pure/Refined Oil
· Blend
By Application
· Food and Beverages
· Pharmaceuticals and Medicinal Formulations
· Personal Care and Cosmetics
· Others
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
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Reasons to Buy This Report:
This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Refined Avocado Oil market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
Key Industry Developments in the Global Avocado Oil Market:
· In November 2023: Australian food company Select Harvest announced the acquisition of New Zealand avocado oil producer Olivado New Zealand. This acquisition aimed to expand Select Harvest's avocado oil business into the lucrative Asian market.
· In July 2023: Spanish olive oil giant Borges Grupo Alimentario acquired a majority stake in Chilean avocado oil producer Olivos del Valle. This acquisition aimed to diversify Borges' product offerings and enter the growing avocado oil market.
· In May 2023: Los Angeles-based avocado oil producer Olivado announced the acquisition of Avohealth, a leading supplier of organic avocado oil in the United States. This move aimed to strengthen Olivado's position in the organic avocado oil market and expand its product portfolio.
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