Global Avocado Oil Market - 2023-2030

Global Avocado Oil Market - 2023-2030

The Global Avocado Oil Market size reached US$ 576 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 870.3 million by 2030. The market is growing at a CAGR of 5.3% during the forecast period 2023-2030.

Avocado oil is perceived as a healthier alternative to traditional cooking oils such as vegetable or canola oil, and hence the market for avocado oil is growing. It is also considered to be a natural product, which appeals to consumers who are increasingly seeking out clean labels and minimally processed food options.

The Mediterranean diet has gained popularity in recent years due to its health benefits and avocado oil is a staple ingredient in this diet. This has contributed to an increase in demand for avocado oil, especially in regions where the Mediterranean diet is popular.

Avocado oil is also used in the cosmetics and personal care industry, particularly in the production of skincare products. The increasing consumer demand for natural and organic skincare products is expected to drive the growth of the avocado oil market in this sector.

Market Dynamics

The Growing Popularity of Plant-Based Diets Fuels the Growth of the Avocado Oil Market

As more people adopt plant-based diets, the demand for plant-based ingredients, including avocado oil, is increasing. For instance, the US annual per capita avocado consumption recently surpassed 9 pounds (4.1 kg). Consumers are looking for healthier and more sustainable alternatives to traditional animal-based products and avocado oil fits the bill.

Avocado oil is considered a healthier alternative to many traditional cooking oils. 100 grams of avocado oil contains 71 grams of monounsaturated and polyunsaturated fats which are good for heart health. Hence, the growing popularity of plant-based diets is driving the avocado oil market growth.

The High Price of Avocado Oil Hampers the Market Growth

The high price of avocado oil can be a significant restraint on the avocado oil market growth. Avocado oil is produced from the flesh of avocados, which have a limited growing season and a limited supply. This can lead to higher production costs and limited availability, which can drive up the price of the oil.

Due to its higher price point, some consumers may be hesitant to purchase avocado oil, especially if they are used to using lower-priced cooking oils. This can limit the potential market for avocado oil and reduce the overall demand for the product.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global avocado oil market is segmented based on product type, end-use, distribution channel, and region.

The Superior Quality of Extra Virgin Avocado Oil is Expected to Drive the Segment Growth

Based on product type, the avocado oil market is divided into extra virgin oil, virgin oil, pure/refined oil and blend.

In 2022, extra virgin avocado oil had the highest share in the avocado oil market. Extra virgin avocado oil is considered the highest quality and most premium grade of avocado oil, which is why it typically commands the highest share in the avocado oil market.

Extra virgin avocado oil is extracted using a cold-press method, which involves crushing the avocado fruit and separating the oil from the pulp without the use of heat or chemicals. This results in an oil with the highest quality and purity, as well as the highest levels of nutrients and antioxidants.

Geographical Analysis

Rising Health Consciousness and Growing Imports of Avocado Oil in the Asia-Pacific Region

The region has seen a rise in health consciousness among consumers, leading to an increase in demand for healthier food options. Avocado oil, which is rich in monounsaturated fats and antioxidants, has gained popularity as a healthy cooking oil and ingredient.

According to Volza's India Import data, 636 shipments of avocado oil were imported into India by 88 India Importers from 134 Suppliers. Overall, the increasing demand, growing production, rising health consciousness and large population have contributed to the Asia Pacific region's significant share in the avocado oil market.

Competitive Landscape

The major global players in the market include Spectrum Organics Products, Bella Vado Inc., The Village Press, La Tourangelle Inc., Proteco Gold pty Ltd., ET Sesajal S.A de C.V., Grupo industrial Batellero, Grove Avocado Oil, Ciberia International and Olivado USA

Why Purchase the Report?
• To visualize the global sunflower oil market segmentation based on product type, end-use, distribution channel and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of avocado market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Avocado Oil Market Report Would Provide Approximately 61 Tables, 60 Figures and 151 Pages.

Target Audience 2023
• Manufacturers / Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies