Global Extra Virgin Avocado Oil Market Report and Forecast 2024-2032

Global Extra Virgin Avocado Oil Market Report and Forecast 2024-2032

Global Extra Virgin Avocado Oil Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global extra virgin avocado oil market size reached a value of USD 505.40 million in 2023. Aided by the growing consumer inclination towards healthier fats and oils, the market is projected to further grow at a CAGR of 4.5% between 2024 and 2032 to reach a value of USD 777.5 million by 2032.

Extra virgin avocado oil is well-known for its exceptional nutritional profile as it is rich in monounsaturated fats, vitamins, and antioxidants, making it a preferred choice among health-conscious consumers. Its versatility extends beyond the kitchen, finding applications in cosmetic formulations and health supplements, thanks to its hydrating properties and high content of beneficial compounds.

The extra virgin avocado oil market growth is largely driven by the heightened awareness and demand for natural and nutritious food ingredients. As consumers become increasingly mindful of the health impacts of their dietary choices, the shift towards food products that offer health benefits without compromising on taste or quality has become evident. This shift has significantly benefited the market, especially the extra virgin variant, known for retaining the maximum nutritional value due to minimal processing.

As per the extra virgin avocado oil market analysis, the global surge in avocados' popularity as a superfood has directly impacted the demand for avocado oil. The integration of avocados into various dietary regimes, coupled with the fruit's versatile use in culinary traditions around the world, has bolstered the market for its oil derivatives.

The expansion of the market is also fuelled by its growing applications beyond culinary uses. In the cosmetic sector, it is prized for its skin-nourishing properties, leading to its inclusion in a variety of skincare products. As per the extra virgin avocado oil market outlook, the health supplement sector has recognised the oil's potential in supporting cardiovascular health and improving nutrient absorption, further broadening its market reach.

Efforts to improve agricultural practices, enhance supply chain efficiency, and develop more cost-effective production methods can mitigate these hurdles. Additionally, the growing interest in sustainable and ethically sourced products opens avenues for brands to differentiate themselves by emphasising organic farming practices and transparent sourcing.

Technological advancements play a crucial role in shaping the future of the extra virgin avocado oil market. Innovations in extraction and processing techniques have the potential to preserve the oil's nutritional integrity while improving yield and efficiency. Furthermore, advancements in packaging technology can extend the shelf life of the oil, ensuring its freshness and nutritional value from production to consumption.

The global market for extra virgin avocado oil showcases notable regional disparities, with North America holding the substantial extra virgin avocado oil market share, attributed to the region's pronounced health and wellness trend and the popularity of avocados in the American diet. Europe follows closely, driven by increasing consumer demand for natural and organic food products. The Asia-Pacific region is identified as an emerging market, with growing awareness of avocado oil's health benefits and expanding culinary applications driving demand.

Leading market players are increasingly investing in precision agriculture technologies to optimise avocado farming. This includes the use of drones for aerial surveillance to monitor crop health and irrigation systems, satellite imaging for land analysis, and IoT-based sensors to track soil moisture levels and nutrient content. Such technologies enable farmers to make data-driven decisions that improve yield quality and quantity, ensuring a more stable supply of avocados for oil production, which can boost the extra virgin avocado oil market expansion.

Market Segmentation

The market can be divided based on application, distribution channel, and region.

Market Breakup by Application

• Food and Beverage
• Cosmetic
• Others

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Store
• Online Store
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global extra virgin avocado oil market. Some of the major players explored in the report by Expert Market Research are as follows:

• Aconcagua Oil & Extract SA
• South Press Co. Ltd.
• Avocado Health Limited
• Tanlay AG (Olivado)
• Avomexicano Inc.
• Avocado Oil New Zealand Ltd.
• The Village Press Ltd.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.