Enjoy complimentary customisation on priority with our Enterprise License!
The avocado oil market size is forecast to increase by USD 516.45 million, at a CAGR of 12.95% between 2022 and 2027. The market is propelled by several factors, notably the health benefits associated with its consumption, including its high content of monounsaturated fats and various vitamins. Another key driver is its higher smoke point, making it suitable for various cooking methods compared to others. Additionally, avocado oil's versatile applications in both culinary and cosmetic industries contribute to its growing demand. These factors collectively fuel the market's growth trajectory, attracting health-conscious consumers and culinary enthusiasts alike to embrace the benefits in their daily lives.
To learn more about this report, Download the Report Sample
This report extensively covers market segmentation by product (refined avocado oil and crude avocado oil), distribution channel (offline and online), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market is driven by increasing consumer preference for natural and organic products, particularly among vegans and vegetarians. It is known for its health benefits and versatility, and finds applications in the beauty and personal care industry, especially in hair care products. Rising awareness about the benefits of plant-based diets further propels market growth, with supermarkets and hypermarkets witnessing increased demand. However, challenges such as competition from other organic, technological advancements in extraction methods, and shelf life concerns pose obstacles to market expansion amidst the trend toward environmental care. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. A holistic analysis of drivers will help companies refine marketing strategies to gain a competitive advantage.
The health benefits of avocado oil are notably driving the market growth. Avocado is a highly nutritious fruit that contains a variety of proteins, iron, magnesium, vitamins, and minerals, including omega-3 fats, oleic acid, dietary fibers, folic acid, potassium, and vitamins A, B1, B2, B3, B5, B6, E, K, and C. The fruit offers numerous benefits such as improving heart health, eyesight, digestion, and detoxifying the body. Its oil is high in oleic acid, which has a significant amount of monounsaturated fats similar to those found in olive oil. Oleic acid helps to lower the risk of cancer, speeds up cell regeneration, and wound healing, eliminates microbial infections, and reduces inflammation. The high amount of oleic acid enables it to remain fresh for a long time, making it ideal for high-temperature cooking without losing its properties and benefits. It is also a good source of vitamins, including vitamin E, K, C, B5, B6, and more, which improve memory, eyesight, skin, boosts the immune system, and increase the overall efficiency of the digestive system.
The monounsaturated fats, minerals, and vitamins are present in improving the overall functioning and efficiency of the digestive system and helping to reduce weight while providing the body with more energy. It is also beneficial for the heart as it reduces inflammation in the arteries, prevents damage to arterial walls, and reduces the risk of heart-related diseases. It improves good cholesterol and bad cholesterol, improves hair, gums, and skin by reducing skin damage and wrinkles, moisturizing the skin, and nourishing the hair. In addition, it helps to reduce joint pains, improves eye conditions, neutralizes free radicals, enhances wound healing, and more. Regular consumption and usage of can significantly improve health conditions.
Natural oil blends and flavoured avocado oil are a trend in the market. Edible oils are usually mixed with other oils to obtain the benefits of all the mixed oils. Oils that are blended are selected so that the characteristics of each oil can complement the other and enhance the value of the blended oil. It is usually blended with coconut oil, safflower oil, olive oil, almond oil, shea butter, grapeseed seed oil, and others. While blending, various properties of the oil, like the color, viscosity, smoke point, fatty acid composition, aroma, and a few other parameters, are studied and taken into consideration to find the optimum blend proportion.
Natural blends of oils have wide applications, including aromatherapy, food and nutrition, skincare, hair care, and more. Other oil blends, such as avocado and olive oil blends, can be used for cooking and for massaging dry, sensitive, and mature skin. It has a mild nutty taste and flavor. It is smooth and light in texture. Its flavor can be changed by adding whole or ground herbs and spices. Thus, varieties such as lime, garlic, lemon, jalapeno, honey almond, and many other flavored are available in the market. These factors will influence the market growth during the forecast period.
Stringent regulations may impede market growth. Companies in the market are required to comply with the stringent regulations and guidelines issued by various government bodies. Different countries have various government regulatory agencies that lay down the standards that need to be followed by seed manufacturers, including avocado producers. For instance, in the US, the United States Department of Agriculture (USDA) frames the regulations for avocado products.
In South Africa, the Ministry of Agriculture, Forestry, and Fisheries has framed grading, packing, and marking regulations for avocados that are intended for sale in South Africa. The avocados imported into the European Union must comply with the United Nations Economic Commission for Europe (UNECE) standards for avocados. Hence, different regulations in different countries can hamper the growth of the market during the forecast period.
Our market forecasting analysis of the lifecycle of the market research and growth indicates a movement from the innovator’s stage to the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries including the US, Canada, China, Japan, the UK, and Germany. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop market growth and forecasting strategies from 2022 to 2027.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market
A G Industries - The company offers avocado oil, such as cold-pressed avocado oil.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market is witnessing significant segmentation driven by a surge in health-conscious consumer trends. As antioxidants gain prominence in health circles, avocado oil emerges as a favored choice due to its rich antioxidant content. Moreover, the market is buoyed by the growing demand for vegan and vegetarian products, with avocado oil being a popular option in natural and organic segments. Its versatility spans across various applications in the beauty and personal care industry, particularly in hair care products. Food and beverages applications dominate, with avocado oil being stocked in major supermarkets and hypermarkets, catering mainly to consumers in developed countries. This growth is further propelled by the increasing urbanization and the rising preference among the upper-middle class for organic food products. Technological advancements in extraction technology ensure the retention of essential nutrients, enhancing shelf life and promoting environmental care by offering sustainable alternatives to traditional oils like sunflower oil.
The market share growth by the refined avocado oil segment will be significant during the forecast period. Refined avocado oils are available in the market in three primary forms, namely extra virgin avocado oil, and others (butter, blends, and sprays). Extra virgin has a very high smoke point. It is manufactured using the cold-pressed extraction process. Since it is produced at a low temperature, it has high nutritional content, aroma, and strong flavour.
Get full insights on the market contribution of various segments Request a PDF Sample
The refined avocado oil segment showed a gradual increase in market share with USD 303.39 million in 2017 and will continue to grow by 2021. Other forms include avocado butter, avocado oil blends, and spray avocado oil products. Avocado butter is produced through a cold-pressed technique. Avocado oil is also used along with other oils. It is blended with other oils to extract the benefit of both oils. Many manufacturers like Chosen Foods LLC and others have introduced avocado blend oil varieties. Similarly, the demand for flavoured avocado oil is also rising, and manufacturers have introduced avocado oil in different flavours like lime, garlic, and others. Moreover, the cost of crude oil is comparatively lower than that of processed oil, and several vendors in the market offer it in bulk to local and international end-users, especially to body care and skin care cosmetic manufacturers. For example, South Africa-based company Westfalia Fruit Pty Ltd. supplies crude to the cosmetic and food and beverage industries in bulk, which is used as an essential ingredient in products like bathing soaps and skin moisturizers.
Get a glance at the market contribution of various segments Request PDF Sample now!
North America is projected to contribute 43% of the market's growth by 2027. Technavio’s analysts have elaborately explained the regional market trends and drivers that shape the market during the forecast period. The US, Canada, and Mexico are the leading consumers in the region. Growing awareness about a healthy lifestyle is one of the factors that is driving the demand oil in the region. The demand is mainly due to its health benefits. The increased prevalence of health conditions, such as chronic diseases and heart diseases, caused by the increased consumption of high-fat oils and butter has led to an increased demand for healthy oils. The increasing awareness among consumers about the various health benefits, such as the presence of essential vitamins and minerals, fiber, and ant-oxidants, is also increasing the demand in North America. The consumers in the region prefer purchasing healthy oils over other oils. Hence, the demand for oils, such as olive oil, canola oil, rice bran oil, and other similar oils, is increasing in the region.
Our report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by product, distribution channel, and region.
The market is thriving with diverse applications across the food and beverages industry, catering to health-conscious consumers in the food sector. With growing concerns about saturated fat content in traditional oils, avocado oil stands out for its good fat content and is increasingly preferred in the processed food industry. Recognized for its certified organic status, its benefit from technological advancements like supercritical fluid extraction and ultrasound-assisted oil extraction, ensuring purity and quality. It finds applications not only in the culinary world but also in the pharmaceutical industry due to its nutritional benefits and vitamin E content. Avocado oil's emollient properties make it a sought-after ingredient in the cosmetics and personal care industry, offering natural solutions for skincare. As the demand for plant-based products surges, emerges as a staple, providing essential protein, fibers, vitamins, and minerals, reflecting consumers' growing health consciousness.
Additionally, the market thrives across various sectors, with notable applications in food and beverages due to its versatility and health benefits. Consumers seek certified organic oils for their purity, while technological advancements like nanotechnology ensure product quality and safety, combating counterfeit products. Avocado oil comes in different variants, including extra virgin, virgin, and pure/refined oil, catering to diverse preferences in the food and beverage application segment. It extends beyond culinary use, finding its way into cosmetics and personal care products, where its properties rival those of lanolin. Rich in soluble and insoluble fibers, along with essential vitamins
Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2022 |
Historical year |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.95% |
Market growth 2023-2027 |
USD 516.45 million |
Market structure |
Fragmented |
YoY growth (%) |
12.65 |
Regional analysis |
North America, APAC, Europe, South America, and the Middle East and Africa |
Performing market contribution |
North America at 43% |
Key consumer countries |
US, Canada, China, Japan, UK, and Germany |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
A.G. Industries, AMD Oil Sales LLC, AOS Products Pvt. Ltd., Avi Naturals, Avocado Global Pte Ltd., Avocado Oil New Zealand Ltd., Bella Vado, BIO PLANETE - Huilerie Moog GmbH, Bo International, Chosen Foods LLC, Crofts Ltd., Kevala International LLC, La Tourangelle Inc., Olivado Ltd., Plenty Foods, Storinos Quality Products, SVA Naturals, The Hain Celestial Group Inc., The Village Press, and Westfalia Fruit Pty Ltd. |
Market dynamics |
Parent market growth analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.