Avocado oil is extracted from avocado fruit and is highly beneficial for human health. Rich in monounsaturated fatty acids and vitamins, avocado oil helps lower cholesterol levels, reduces risk of heart disease and exhibits anti-inflammatory properties.
Avocado oil is used as cooking oil and in cosmetic and pharmaceutical products due to its various health advantages. It has a high smoke point of 410°F, which makes it suitable for deep frying and stir-frying. Avocado oil helps hydrate and nourish skin and hair and is commonly used in natural skin and hair care products. The oil also finds application in lubricants, biofuels and other industrial uses. The rising health and wellness trend has boosted the popularity of avocado oil globally.
The global avocado oil market is estimated to be valued at USD 665.9 Mn in 2024 and is expected to reach USD 981.7 Mn by 2031, growing at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031.
Key Takeaways
Key players operating in the Avocado Oil market are 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. The companies are focused on high yield avocado cultivars and leveraging advanced extraction technologies to boost production capacities.
A major driver of Avocado Oil Market growth is rising awareness and demand for healthier cooking oils with highsmoke points for various culinary applications. Avocado oil provides a savory and buttery flavor to food preparations. Its versatility for both cooking and cosmetic uses will further supplement demand.
The market is witnessing high international trade of avocado oil across Americas, Europe and Asia Pacific. Major producers including Mexico, Peru, Chile and Dominican Republic are tapping new export markets in USA, Germany, UK and China.
Market key trends
Rising applications of avocado oil in cosmetic and skincare products is a key trend. The natural moisturizing and anti-aging properties make it suitable for lotions, creams and hair care formulations. Manufacturers are innovating new hybrid products leveraging multiple advantages of avocado oil. Its popularity as a natural and premium-positioned ingredient with millennials will continue growth momentum in cosmetics over the forecast period.
Porter's Analysis
Threat of new entrants: New entrants face high costs of production facilities and distribution channels. Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes. Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of substitute raw materials. Threat of new substitutes: Avocado oil faces threat from other edible vegetable oils like olive oil. Competitive rivalry: The market is highly competitive with large number of global and regional players competing based on product quality.
The avocado oil market in North America currently holds the largest share in terms of value. The U.S. dominates the North American market owing to rising health awareness among consumers regarding the benefits of avocado oil. Mexico is also a major producer and exporter of avocados and avocado oil in the global market. The avocado oil market is projected to witness fastest growth in Asia Pacific during the forecast period supported by rising health consciousness. Countries like China, India are expected to drive high demand for avocado oil due to favorable government policies promoting its consumption.
About Author:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )
