March 1, 2024

The Global Avocado Oil Market is expected to be Flourished by Growing Health Awareness

Avocado oil is extracted from the fruit of Persea Americana tree through various extraction processes such as cold pressing, hydrolic pressing and others. Avocado oil is popular due to its various health benefits such as improving heart health, skin health, digestion and others. It has high smoke point which makes it suitable for cooking. Growing consumer awareness about health benefits of natural and plant-based oils isdriving the demand for avocado oil as cooking oil. Avocado oil is used in cosmetics and personal care products due to its antioxidants content and hydrating properties.

The global avocado oil Market is estimated to be valued at US$ 1912.5 Bn in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics
Increasing cases of chronic diseases and conditions such as heart diseases, diabetics, obesity etc. have raised health consciousness among consumers. They are seeking for nutritious cooking oils that provide additional health benefits other than basic nutrition. Avocado oil has gained popularity as a healthier alternative to conventional vegetable oils. Furthermore, knowledge about various health advantages of avocado oil through social media and online content is influencing consumers’ purchase decision and boosting the market growth.

Rising interest in natural cosmetic products is also fueling the demand for avocado oil. It is widely used in cosmetic formulations due to high antioxidant content and emollient properties. Avocado oil penetrates deep into skin and locks moisture, thus popular among skincare and hair care products. Increasing use of natural oils in cosmetics to cater growing demand for chemical-free personal care products works in favor of avocado oil market.

Segment Analysis
The global avocado oil market is dominated by food service and retail sub-segments. The food service sub-segment holds around 40% market share owing to increasing adoption of avocado oil in restaurants, cafes and hotels for cooking purposes. It has a high smoke point and enhances flavor of food items. The retail sub-segment is the fastest growing segment growing at a CAGR of 6.4% during the forecast period due to rising health conscious consumers preferring avocado oil for cooking at homes.

PEST Analysis
Political: Supportive regulations in various countries for adoption of avocado oil as it provides several health benefits.

Economic: Increasing disposable income and changing lifestyle driving higher demand for avocado oil across regions.

Social: Growing health awareness among consumers about benefits of consuming plant-based oils.

Technological: Advanced extraction processes ensuring high quality oil with rich flavor and nutritional value.

Key Takeaways
The Global Avocado Oil Market Size is estimated to be valued at US$ 1912.5 Bn in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031.

Regional analysis – North America dominates the market with around 35% share owing to rising health awareness and changing consumer preferences in the US and Canada.

Key players operating in the avocado oil market are Cargill Incorporated, Archer Daniels Midland Company (ADM), Bunge Limited, Ingredion Incorporated, Tate & Lyle PLC, Didion Milling, Semo Milling, Agrana Beteiligungs-AG, The Andersons, Inc., LifeLine Foods.  Key players are focusing on new product launches to cater to increasing demand for avocado oil. Cargill launched high oleic avocado oil to provide nutritional benefits.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it