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  • Published On : Dec 2022
  • Code : CMI1058
  • Pages :210
  • Formats :
      Excel and PDF
  • Industry : Food Ingredients

Avocado oil is extracted from the Persea Americana fruit and is used as a cooking oil, in cosmetics, and for lubrication, due to its moisturizing and regenerative properties. Avocado fruit is also known as butter pea or vegetable butter originated in Central America.

Global Avocado oil was valued at US$ 1482.0 Million in 2021 in terms of revenue, exhibiting a CAGR of 5.84% during the forecast period (2022 to 2030).

Drivers

Avocado oil consists high concentration of potassium, vitamins such as A, D, and E, and monounsaturated fats. Some of the properties of avocado oil are high smoke point to stop overheating of the oil and high monounsaturated fatty acids, fuels growth of the avocado oil market. Furthermore, increasing demand for healthy and natural foods is anticipated to fuel the market growth. The reduction of cholesterol level, control of psoriasis, and osteoarthritis are some of the benefits associated with avocado oil make it useful for the treatment of coronary heart disease, peripheral artery disease, and carotid artery disease, among others. Avocado is also used for the treatment of diabetes as it has low glycemic index by controlling its blood sugar level.

Avocado oil contains essential fats and vitamins that enhance the health of individuals. Concurrently, they do not contain cholesterol or sodium which helps in maintaining blood levels and managing cholesterol levels effectively. These oils are used in cooking as well as in cosmetics. The moisturizing ability of avocado has created immense growth opportunities for the avocado market in the cosmetic industry. The lifestyle changes due to rapid urbanization have boosted the demand for healthy oils which has eventually contributed to the growth of the avocado oil market

The COVID-19 outbreak has been affecting economies and industries in various countries, including the U.S., India, Brazil, Russia, Italy, the U.K., Iran, Spain, and China. Food and beverages is one the world’s major industries suffering serious disruptions in the form of supply chain breaks, events cancellations, and office shutdowns as a result of the lockdowns imposed in various countries to contain the disease spread. China is the global manufacturing hub and is the largest raw material supplier for various industries; it is also one of the worst-affected countries by the COVID-19 pandemic.

Figure 1. Global Avocado Oil Market Value Share (%), By Region, 2021

AVOCADO OIL MARKET

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Market Restraints

Presence of multiple varieties of viable alternative, such as olive oil, coconut oil, and hemp oil, is restraining the growth of avocado oil market. Avocado oil is relatively expensive in comparison with other oil varieties that are available at affordable rates.

Popular alternatives, such as olive oil and palm oil, are being widely adopted across multiple verticals, including food, cosmetics, and cleaning agents. Such particulars, in turn, are likely to hamper the growth of avocado oil market during the forecast period.

Avocado Oil Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 1482.0 Mn 
Historical Data for: 2017-2020 Estimated Year: 2022
Forecast Period 2022 to 2030 CAGR: 5.84% Forecast Period: 2022-2030
Geographies covered:
  • By Region: North America, Latin America, Europe, Asia Pacific, Middle East & Africa
Segments covered:
  • By Product Type: Virgin Oil, Extra Virgin Oil, Refined Oil, Others
  • By Application: Personal Care Products, Cooking, Medicinal Products, Others
  • By Distribution Channel: Hypermarkets, Supermarkets, Specialty Stores, Convenience Stores, Others
Companies covered:

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

Growth Drivers:
  • Increasing demand for avocado oil in personal care products
Restraints & Challenges:
  • Presence of multiple varieties of viable alternative 

Market Trends

The expanding global population and need for various cooking oils primarily drive up the demand for edible oil. Consumers are exploring multiple kinds of edible oils that can be utilized for cooking as they become more aware of the health advantages of consuming vegetable oils. Avocado oil is not only healthier, but it also tastes lighter and more refreshing than other vegetable oil. This makes it ideal for sautéing, stovetop grilling, and other recipes that call for vegetable oil. Moreover, manufacturers are employing cutting-edge technological solutions to increase the nutritional content of edible oils, which is projected to drive up the demand for edible oils.

Furthermore, the expansion of the global retail sector, combined with an increase in consumer disposable income, is predicted to have a favorable impact on edible oil manufacturing and distribution around the world. As a result, the rapidly rising demand for edible oils from the world's growing population is likely to bolster the growth of the worldwide avocado oil market during the forecast period.

 Figure 2. Global Avocado Oil Market Value Share (%), By Product Type, 2021

AVOCADO OIL MARKET

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Recent Developments

  • In August 2021, Vital Farms, situated in Austin, Texas, launched pasture-raised butter with avocado oil and sea salt. This creamy and flavorful tub of butter is made from 100% pure avocado oil and sea salt.
  • In October 2021, a U.S.-based brand Jackson’s Honest, expanded its snack portfolio of potato chips with new packaging. In addition to company’s original Sea Salt with Coconut Oil chips, the line-up contains three new flavors made with avocado oil: Spicy Tomatillo, Sea Salt and Carolina BBQ.
  • In March 2021, New York-based brand, Glow Recipe launched the Avocado Ceramide Recovery Serum. This product will help to soothe the complexion and overhaul its moisture barrier.

Competitive Section

Major players operating in the global avocado oil market include 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.

Frequently Asked Questions

Global avocado oil market was valued at around US$ 1482.0 Million in 2021.

Increasing demand for avocado oil in personal care products, owing to its beneficial monounsaturated fatty acids like oleic acid and its hydrating property is one of the major factors that is expected to propel growth of the market over the forecast period

Expanding global population and need for various cooking oils and expanding global retail sector are the main trends in market.

Presence of multiple varieties of viable alternative, such as olive oil, coconut oil, and hemp oil, is restraining the growth of market.

Major players operating in the market include, 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 market is estimated to grow at around 5.84 % CAGR in the forecast period (2022-2030).

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