Market Overview:
Avocado oil is obtained from ripe avocados through pressing or extruding. It is a source of healthy monounsaturated fat and vitamins A, D, E and K. Avocado oil has a rich flavor and high smoke point, making it suitable for cooking and cosmetic applications. The growing health-conscious population is driving the need for healthier cooking oils like avocado oil.
Market Key Trends:
Latin America accounts for the largest share in the global avocado oil market, primarily driven by countries like Mexico, Peru, Colombia and Chile. The ideal climatic conditions in these countries make them suitable for large-scale avocado cultivation. In Mexico alone, annual avocado production is over 1.8 million tons. Further, the increasing product export from Latin American countries to North America and Europe is also contributing to the regional market growth over the forecast period.
Segment Analysis
The global avocado oil market is segmented by source, grade, application and distribution channel. Based on source, it is segmented into hass, fuertes, reed and Others. The hass segment dominates the market and accounts for around 70% share as it has a buttery and creamy texture. Hass avocados are considered premium quality and therefore fetch higher prices.
The global Avocado Oil Market Growth is estimated to be valued at US$ 287.2 Million in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023-2033, as highlighted in a new report published by Coherent Market Insights
Key Takeaways
The global avocado oil market size is expected to reach US$ 482.5 million by 2033, expanding at a CAGR of 5.9% during the forecast period. The increased awareness regarding the health benefits of avocado oil such as presence of antioxidants, vitamins and omega fatty acids is propelling the market growth.
Regional analysis
North America dominates the global avocado oil market and is estimated to account for around 45% share of the overall market by 2033. Mexico is the largest producer as well as exporter of avocado oil and growing health-conscious population in the US is driving high demand.
Key players
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, Chosen Foods LLC, and Storino's Quality Products. These players are focusing on new product developments and expansion of their distribution channels to strengthen their market position.
The Avocado Oil Market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the avocado oil market include Olivado Ltd., The Hain Celestial Group, Inc., Bella Vado Avocado Oil, Hans Merensky Holdings (Pty) Ltd., SESAJAL S.A. de C.V., Tron Hermanos, S.A. de C.V., Cibaria International Inc., Crofts Ltd., MADANA Inc., Proteco Oils.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Avocado Oil Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/avocado-oil-market/download-sampleMarket DynamicsThe market has been primarily driven by the rising awareness of the nutritional and health benefits associated with avocado oil among consumers.
Apart from this, driven by an increasing prevalence of various lifestyle disorders such as diabetes, obesity, cardiovascular disorders, etc.
resulting from an increasing consumption of high fat butter and oils is further expected to increase the demand for healthy oils such as avocado oil.
