The avocado oil market was valued US$ 287.2 million in 2022, and it is expected to be worth US$ 975 million by 2033, increasing at a CAGR of 5.9% through 2033. The health-conscious populace, particularly those who are struggling with weight issues, becomes the dominant avocado oil customer base since avocado oil’s nutrient composition boasts of a greater content of healthy fatty acids. Marketers pitch avocado oil as an instant healthier substitute for olive oil and a substitute for other frying and salad dressing oils.
The growth rates of the global market and its potential for future expansion are compared and evaluated by FMI every six months. Certain demographic and innovative elements of the market are dominant as a result of the subjective effects of macro- and industry-level variables.
The prevalence of lifestyle diseases including cardiovascular problems is rising globally. Study into it has advanced because of the advantages to health that come with consuming avocado oil. Avocado oil has several uses, including in cosmetics, medicine, and personal care products.
It has become extremely important in the medical sector due to several advantages, including weight loss, improved digestion, improved heart health, and being a high source of vitamin E. These elements are expected to favorably fuel the development of the global avocado oil market.
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Key Takeaways from the Market Study
- The global avocado oil market saw sales expand significantly between 2018 and 2022, with a CAGR of 4.1%.
- The extra-virgin oil market is projected to represent 44.5% of the global avocado oil market in 2023.
- The food and beverage industry gained a 51.5% market share of the avocado oil market worldwide in 2022.
- The avocado oil market in North America accounted for more than 30% of the worldwide market in 2022.
- The North American market share for avocado oil in the United States was 67.9% in 2022.
“The high-income growth rate in industrialized nations, along with the rapid pace of urbanization and the increase of the upper middle class, is the main driver behind the rising usage of avocado fruit oil in several sectors,” remarks an FMI analyst.
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Prominent players in the avocado oil market are:
- Spectrum Organics Products, LLC
- Bella Vado Inc.
- The Village Press
- La Tourangelle, Inc.
- Proteco Gold Pty Ltd.
- Sesajal S.A de C.V.
- Grupo Industrial Batellero
- Grove Avocado Oil
- Cibaria International
- Olivado USA
Leading manufacturers of avocado oil are zealously pursuing marketing methods such new product innovations, collaborations, technological breakthroughs, R&D activities, investments, and even acquisitions to enhance their worldwide exposure.
- The French company Laboratoires Expanscience introduced a new organic, emollient, and nutritious avocado fruit oil in 2021. It was made by cold pressing entire, previously dried avocados.
- New York-based company Glow Recipe announced the release of Avocado Ceramide Recovery Serum in 2021. This lotion can improve the skin’s moisture barrier as well as improve the complexion. Ceramides along with avocado fruit oil are the two components worth mentioning since they both provide comfort and TLC. Both Sephora.com and the brand’s website offer the product for sale.
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Key Segments Profiled in the Avocado Oil Market
By Type:
- Extra Virgin Oil
- Virgin Oil
- Pure/Refined Oil
- Blend
By Application:
- Food and Beverages
- Pharmaceuticals and Medicinal Formulations
- Personal Care and Cosmetics
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia,
- Middle East and Africa
Author by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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