USD 553.27 million
Avocado Oil Market Size, Share, Growth Analysis, By Type(Virgin Oil, Refined Oil, Blend), By Application(Food and Beverages, Pharmaceuticals and Medicinal Formulations, Personal Care and Cosmetics, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30K2021 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
64
|Figures:
72
Avocado Oil Market Insights
Avocado Oil Market size was valued at USD 553.27 million in 2022 and is poised to grow from USD 578.34 million in 2023 to USD 892.3 million by 2031, growing at a CAGR of 5.82% in the forecast period (2024-2031).
The use of organic food items has greatly expanded as a result of consumers' growing preference for nutritious food as a means of achieving wellbeing and good health. Internet-facilitated access to a seemingly limitless amount of information has increased customer awareness of their need for better eating, which has increased demand for organic goods.
The high-income growth rate in industrialized nations, coupled with the acceleration of urbanization and the growth of the upper middle class, is the main driver behind the rising use of avocado fruit oil in numerous industries. Also, the fact that it is the most expensive oil used in the food and cosmetics industries has been advantageous to the producers who use it because it distinguishes their goods as high-quality goods. As a result, big businesses tend to include these specialist components to their products. Due to its nutritional value, adaptability, and health benefits, it is one of the food ingredients with the fastest expanding market.
US Avocado Oil Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Extra virgin oil
Fastest Growth
Extra virgin oil
Growth Rate
5.82% CAGR
Global Avocado Oil Market ($ Bn)
Country Share for North America Region (%)
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Avocado Oil Market Segmental Analysis
Global Avocado Oil Market is segmented by type, application, and region. Based on type, the market can be segmented into Virgin Oil, Refined Oil, and Blend. Based on application, the market is segmented into Food and Beverages, pharmaceuticals and Medicinal Formulations, Personal Care and cosmetics, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Avocado Oil Market Analysis by Application
Based on the application, the market is segmented into food and beverages, pharmaceuticals and medicinal formulations, personal care and cosmetics, others. The product's use in food and beverages is predicted to experience the fastest CAGR growth over the next few years. The increasing consumer preference for specialty goods and the leading players' increased focus on using such components in processed food products are expected to sustain the segment's stable expansion. For instance, General Mills' keto-friendly brand just introduced yoghurt, which has 12 to 15 grammes of protein per serving and is high in fat, low in carbs and sugar. They add avocado fruit oil in their yoghurt to raise the fat content.
In terms of revenue, the industry is predicted to be led by the cosmetics and personal care goods segment. The product is compared favorably to lanolin despite having a green hue and little smell because of its excellent skin penetration, high vitamin E concentration, and great keeping properties. When included in skin lotions and creams, it also results in finer emulsions. As a result, cosmetics companies tend to use this component to raise the caliber of their goods.
Global Avocado Oil Market By Type
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Avocado Oil Market Regional Insights
In 2022, North America region held significant share in the global Avocado Oil market. The dominance of the region is linked to rising customer interest in the product and its applications as a result of the product's technological and nutritional attributes. Due to its high oleic fatty acid content and vitamin E content, avocado fruit oil is used in cooking and has certain established advantages. From this point forward, it is projected that rising interest in various dietary components, with a focus on fat, which has been linked to a number of ailments, including obesity and diabetes, would support the steady rise of the regional market. Spectrum Organics Products, La Tourangelle, Inc., and Olivado USA are a few of the significant competitors active in the avocado market in North America that are consistently concentrating on increasing their product offers.
The region with the greatest projected CAGR is Asia Pacific, primarily because the product is becoming more and more popular in China, Japan, and other countries. China has just begun extensive avocado cultivation in the provinces of Guangdong, Yunnan, and Fujian. The Chinese government claims that because raw materials are so readily available, China will be able to produce more avocado fruit oil over the next years. Additionally, it is anticipated that the regional market would be driven by the growing demand for the product from other Asian nations, including Malaysia and Japan, as well as its widespread availability through both online and offline distribution channels.
Global Avocado Oil Market By Region
- Largest
- Fastest
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Avocado Oil Market Dynamics
Avocado Oil Market Driver
- The use of organic food items has greatly expanded as a result of consumers' growing preference for nutritious food as a means of achieving wellbeing and good health. Internet-facilitated access to a seemingly limitless amount of information has increased customer awareness of their need for better eating, which has increased demand for organic goods.
With a lower percentage of saturated fat and a larger percentage of healthy fats, organic avocado oil is one of the best oils and offers a number of advantages to consumers. As a result, the business of processed foods is increasingly using organic oil. Also, the majority of customers are willing to spend a little bit more for items of the highest calibre, which motivates producers of processed foods to use such ingredients. Businesses that are active in the market continue to improve their goods with certified organic oils, which is anticipated to support the expansion of the avocado oil industry. For instance, the American brand of plant-based organic foods Nutiva will release three different varieties of organic avocado fruit oil in April 2020.
Avocado Oil Market Restraint
- Alternatives to avocado fruit oil, such sunflower oil and olive oil, are widely available and less expensive, which is anticipated to limit market expansion. Moreover, it is projected that the market will be badly impacted by the rising number of fake goods on supermarket shelves. For instance, the majority of the goods marketed in the United States are either of low quality, are mislabeled, or are contaminated with other oils, according to data from researchers at the University of California (UC), Davis.
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Avocado Oil Market Competitive Landscape
The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Avocado Oil Market Top Player’s Company Profiles
- Olivado
- Sesajal S.A. de C.V.
- The Grove Avocado Oil Co.
- Crofts Limited
- Chosen Foods LLC
- Grupo Industrial Batellero, S.A. de C.V.
- Tron Hermanos, S.A. de C.V.
- Proteco Oils
- La Tourangelle, Inc.
- Ahuacatlan Avocado Oil
- AvoPure
- CalPure Foods, Inc.
- Cibaria International
- Bella Vado, Inc.
- Westfalia Fruit (Pty) Ltd
- Bio Planète
- Hain Celestial Group, Inc.
Avocado Oil Market Recent Developments
- In October 2021, with new packaging, the American company Jackson's Honest has added more snack options, including sweet potato chips. Three additional flavors—Spicy Tomatillo, Sea Salt, and Carolina BBQ—made with avocado oil have been added to the company's inventory in addition to the original Sea Salt with Coconut Oil chips.
- In August 2021, the pasture-raised butter from Vital Farms, situated in Austin, Texas, comes with avocado oil and sea salt. This tub butter's rich and creamy texture makes it ideal for any cooking situation. It is made from butter, 100% pure avocado oil, and sea salt.
Avocado Oil Key Market Trends
- One of the most recent developments in the market is the growing preference for recyclable oil packaging in order to maintain environmental sustainability. Due to plastic waste pollution and the negative environmental effects of plastic manufacture, plastic packaging has drawn the attention of many consumers. Less plastic is used in oil packaging, which promotes recycling and lowers greenhouse gas emissions. From filling to use, the bag-in-box packaging offers environmentally beneficial ways to guarantee that oil stays safe and fresh. The International Life Sciences Institute of India (ILSI) claims that bag-in-box edible oil packaging is a high-performance, economical option created to satisfy institutional users. To satisfy client needs, it can also be integrated with distribution choices. Its polyethylene monomer structure is reusable.
Avocado Oil Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, Global Avocado Oil market is segmented based on type, application and region. Based on the type, the virgin segment of the market is projected to hold the most lucrative share. Based on the application, the food & beverages segment of the market is projected to hold the most lucrative share. Based on the region, the North America region of the market is projected to hold the most lucrative share.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 553.27 million |
| Market size value in 2031 | USD 892.3 million |
| Growth Rate | 5.82% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Avocado Oil Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Avocado Oil Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Avocado Oil Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Avocado Oil Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Avocado Oil Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Avocado Oil Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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