Avocado oil is extracted from the fruit of Persea americana tree by pressing and processing. It is commonly used for cooking purpose due to high smoke point and subtle flavor. The oil contains monounsaturated fatty acids, vitamins, minerals and antioxidants that provide various health benefits like reducing cholesterol, protecting heart health, and promoting skin and hair health. It is used as a cooking oil for sauteing foods and making salad dressings. The avocado oil also finds applications in cosmetic products due to moisturizing and rejuvenating properties.

The global avocado oil market is estimated to be valued at US$ 1660.15 Mn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The avocado oil market is expected to witness significant growth over the forecast period, owing to increasing health awareness among consumers regarding health benefits of avocado oil. Avocado oil contains monounsaturated fatty acids that help lower LDL (bad) cholesterol and reduce risk of heart diseases, which is a major driver for increased demand of avocado oil. According to American Heart Association, nearly half of the U.S. adult population suffers from some form of cardiovascular disease. In addition, rising disposable incomes in developing countries is also fueling market growth as consumers are willing to pay premium prices for nutritional cooking oils.

SWOT Analysis

Strength: Avocado oil contains healthy fats and nutrients that are beneficial for health. It consists of 76% monounsaturated fat and 13% saturated fat which helps lower cholesterol levels and reduce risks of heart diseases. Avocado oil has a high smoke point of approximately 520°F making it suitable for high-heat cooking methods. It also provides various vitamins, minerals, and antioxidants important for overall wellness.

Weakness: Avocado oil production is highly dependent on climatic conditions. Unfavorable weather can damage avocado crops and reduce yields affecting the supply of avocado oil. It is relatively more expensive than other vegetable oils due to low avocado yields and labor-intensive production process.

Opportunity: Rising health consciousness among consumers is driving the demand for healthier oils low in saturated fat and rich in nutrients. Avocado oil meets this demand due to its nutritional profile. Growing food service industry is presenting opportunities for avocado oil use in commercial cooking and catering applications. Emerging markets in Asia Pacific region offer new growth avenues.

Threats: Fluctuating raw material prices and supply disruptions pose major threats. Pests and plant diseases can negatively impact avocado cultivation. Substitute edible oils provide competition. Trade barriers and regulations in import markets can restrict international trade.

Key Takeaways

The Global Avocado Oil Market Share is expected to witness high growth over the forecast period supported by increasing health awareness. It is projected to grow at a CAGR of 7.8% to reach a value of US$ 1660.15 Mn by 2023.

Regional analysis: North America dominates currently accounting for over 35% market share led by the US. Mexico is the largest producer and exporter globally. Asia Pacific is emerging as the fastest growing regional market with countries like India experiencing rising avocado oil consumption.

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, and Chosen Foods LLC. They are focusing on capacity expansions and new product launches to strengthen their positions and tap the market potential.

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