NEW
YORK, June 19, 2024 /PRNewswire/ -- The global
avocado oil market size is estimated to grow by USD 778.7 million from 2024-2028, according
to Technavio. The market is estimated to grow at a CAGR of
almost 16.24% during the forecast period. Health benefits of
avocado oil is driving market growth, with a trend towards natural
oil blends and flavored avocado oil. However, stringent regulations
poses a challenge. Key market players include A.G. Industries, AMD
Oil Sales LLC, AOS Products Pvt. Ltd., Avi Naturals, Avocado Global
Pte Ltd., Avocado Oil New Zealand Ltd., Bella Vado, BIO PLANETE - Huilerie Moog GmbH, Bo
International, Chosen Foods LLC, Crofts Ltd., Kevala International
LLC, La Tourangelle Inc., Olivado Ltd., Plenty Foods, Storinos
Quality Products, SVA Naturals, The Hain Celestial Group Inc., The
Village Press, and Westfalia Fruit Pty Ltd..
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Avocado Oil Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
16.24%
|
Market growth
2024-2028
|
USD 778.7
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
13.6
|
Regional
analysis
|
North America, APAC,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
North America at
42%
|
Key
countries
|
US, China, Canada,
Japan, UK, and Germany
|
Key companies
profiled
|
A.G. Industries, AMD
Oil Sales LLC, AOS Products Pvt. Ltd., Avi Naturals, Avocado Global
Pte Ltd., Avocado Oil New Zealand Ltd., Bella Vado, BIO PLANETE -
Huilerie Moog GmbH, Bo International, Chosen Foods LLC, Crofts
Ltd., Kevala International LLC, La Tourangelle Inc., Olivado Ltd.,
Plenty Foods, Storinos Quality Products, SVA Naturals, The Hain
Celestial Group Inc., The Village Press, and Westfalia Fruit Pty
Ltd.
|
Market Driver
Avocado oil is a popular edible oil used in various applications
due to its beneficial properties. It is often blended with other
oils like coconut, safflower, olive, and almond oil to enhance its
value. The ratio of oils used in blending is carefully considered
to maintain the smoke point and other characteristics. Avocado
oil's mild nutty taste and light texture make it suitable for
cooking and various other uses, including aromatherapy, food and
nutrition, skincare, and hair care. Brands offer flavored avocado
oils, such as lime, garlic, and jalapeno, for specific cuisines,
expanding the market's reach.
The avocado oil market is experiencing significant growth due to
its numerous health benefits. Consumers are increasingly turning to
this product for its unsaturated fats and antioxidants. In 2020,
the demand for organic avocado oil was particularly high. Producers
are focusing on improving yield and quality to meet this demand.
The trend towards plant-based diets is also driving up the use of
avocado oil in the food industry. Additionally, its versatility as
a cooking oil and its role in personal care products is expanding
its applications. The future looks bright for the avocado oil
market with continued growth expected.
Research report provides comprehensive data on
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Report
Market Challenges
- The global avocado oil market faces challenges due to stringent
regulations set by various government agencies. In the US, the
United States Department of Agriculture establishes import
standards for avocados, including maturity and color requirements.
South Africa's Ministry of
Agriculture, Forestry, and Fisheries sets grading, packing, and
marking regulations. The European Union enforces UNECE
standards, requiring a minimum dry matter content for Hass and
Fuerte varieties. Labeling regulations, such as prohibiting toxic
ink or glue and requiring traceability, also apply. These differing
regulations can hinder market growth during the forecast
period.
- The avocado oil market faces several challenges. Production
involves extracting oil from avocados, a process that can be costly
and time-consuming. The industry also deals with inconsistent
supply due to factors like weather conditions and crop yields.
Additionally, competition from other edible oils and increasing
consumer preference for organic and cold-pressed oils add to the
market's challenges. Furthermore, regulatory requirements and
certifications can increase production costs. Lastly, the market
must address sustainability concerns, as avocado farming can have
environmental impacts. Despite these challenges, the avocado oil
market continues to grow due to its health benefits and consumer
demand.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This avocado oil market report extensively covers market
segmentation by
- Product
- 1.1 Refined avocado oil
- 1.2 Crude avocado oil
- Distribution Channel
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Refined avocado oil- The avocado oil market
offers various forms of refined avocado oil, including extra virgin
and virgin oil. Extra virgin avocado oil, produced through
cold-pressed extraction, has a high smoke point and retains its
nutritional content, aroma, and strong flavor. It is suitable for
emulsifying, spreading, cooking, and frying purposes. Virgin
avocado oil, also cold-pressed, has a higher acidity level but is
ideal for all cooking methods due to its high smoke point. Other
forms like avocado butter, blends, and sprays have unique
applications and properties. The market is driven by the increasing
demand for healthy cooking oils and the launch of flavored avocado
oil products. Manufacturers like Chosen Foods offer a range of
avocado oil options.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The avocado oil market encompasses the production and
distribution of monounsaturated fats derived from the extraction of
avocados. This market caters to various sectors, including skincare
products, hair care products, and cosmetics, due to the high
vitamin E and antioxidant content of avocado oil. The upper-middle
class and vegan/vegetarian populations, who prioritize plant-based
diets and organic food products, contribute significantly to the
demand for certified organic oils. In contrast, the processed food
industry and personal care industry also utilize avocado oil for
its good fat content and long shelf life. Extraction technology and
environmental care are essential considerations in the market, with
nanotechnology offering alternatives to traditional methods.
Sunflower oil and olive oil serve as competitors in the market,
each with their unique benefits and applications.
Market Research Overview
The Avocado Oil market is a significant segment of the global
edible oils industry. This market is driven by the increasing
health awareness among consumers and the growing demand for healthy
cooking oils. Avocado oil is rich in monounsaturated and
polyunsaturated fatty acids, making it a popular choice for
heart-healthy cooking. Its high smoke point and mild flavor also
make it an excellent option for high-heat cooking. The market for
avocado oil is expected to grow significantly due to its numerous
health benefits and increasing consumer preference for natural and
organic food products. The market is also influenced by various
factors such as production costs, supply and demand dynamics, and
government regulations. The market for avocado oil is diverse and
includes various types of avocado oils, such as cold-pressed,
refined, and organic. The market is also segmented by regions,
including North America,
Europe, Asia Pacific, and the Rest of the World.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Refined Avocado Oil
- Crude Avocado Oil
- Distribution Channel
-
- Geography
-
- North America
- APAC
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio