Global Avacado Oil Market, Size, Share, Growth ⅼ Forecast (2024 – 2032) ⅼ Renub Research

Global Avocado Oil Market share is foreseen to be approximately US$ 1.00 Billion by 2032. The CAGR for the avocado oil market from 2024 to 2032 is 5.84%. Renub Research stated that it was valued at US$ 0.60 Billion in 2023.

Avocado fruit is used to obtain avocado oil using a cold-press technique. Avocado oil was mentioned in literature from the sixteenth century. Avocado oil is commonly derived from Hass avocados, farmed across several nations, including the US, Chile, Mexico, Spain, and New Zealand. Compared to a few years ago, avocado oil has grown in popularity and is now used more frequently. Avocado oil is tasty, healthful, and simple to use. Rich in carotenoids, polyunsaturated fats, oleic acid, and other antioxidant-rich elements, it has been associated with better skin, heart, and eye health. 

• Oleic fatty acid (47.2%) was the primary fatty acid in avocado oil, followed by palmitic (23.6%), linoleic (13.4%), docosadienoic (8.88%), palmitoleic (3.58%), linolenic (1.60%), eicosenoic (1.29%), and myristic acids (0.33%). This information is based on a ScienceDirect article.
• According to the American Heart Association, fats can provide the body with energy, aid in producing hormones, shield organs, keep the body warm, and support cell activity.

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Global Avocado Oil Market Trends

1. Growth in Demand for Plant-Based Diets

Plant-based diets and alternative protein sources have gained substantial traction in recent years. Many issues, including concerns about human health, environmental sustainability, and animal welfare, have increased interest in these diets. A suitable replacement is avocado oil, which has a creamy consistency and is a heart-healthy choice for baking and cooking with plants. This is propelling the avocado oil market globally.

• According to Unilever, this year, on January 1st, one individual registered to consume only plant-based food for 31 days, one person every 2.4 seconds. 36% of participants in the annual Veganuary challenge say they will stay vegan, but most of those who do not also indicate they intend to reduce meat consumption by more than 50% over time.
• In February 2024- The fourth generation of Beyond Burger® and Beef®, Beyond Meat® unveils its Beyond IV platform, with essential advances in taste, health, and clean label. The latest iterations of the company’s meatiest, juiciest beef products are produced with avocado oil, which offers heart-healthy monounsaturated fats.

• Increasing Usage in the Cosmetics Industry

Avocado oil is gaining popularity as a component in cosmetic products. This results from businesses wanting to use unusual substances and the growing customer demand for natural cosmetics. There are numerous advantages of avocado oil for human skin. In addition to being soothing and hydrating, it provides UV protection. In addition to many other elements that nourish the skin, it contains antioxidants, potassium, lecithin, and vitamin E. It can also help prevent acne and reduce inflammation. Companies in post-sun care and anti-aging treatments use avocado oil. Because avocado oil helps hydrate hair and enhance scalp health, it is also frequently found in hair care products, driving growth in the avocado oil market worldwide.

• In January 2024- This Valentine’s Day, Chosen Foods, the company that makes America’s #1 Avocado Oil* and one of the few products on the market that is assured to be 100% pure, is kicking things up with the introduction of a limited-edition Sensual Massage Oil made entirely of pure avocado oil.

• Improvements in oil extracting methods

Avocado oil is rich in health-promoting beneficial chemicals and unsaturated fatty acid concentrations. There are several ways to extract the oil. The global avocado oil market has grown due to ongoing research into new extraction methods spurred by interest in emerging technology. Solvent extraction, rapid solvent extraction, ultrasound-assisted extraction, critical fluid extraction, biological method-assisted extraction, and cold pressing are a few techniques for extracting avocado oil.

Asia-Pacific Avocado Oil Market

Asia-Pacific could see steady growth in the worldwide avocado oil market. It is becoming increasingly well-liked in China, Japan, and other nations. China has been importing and experimenting with avocados for eight decades. Avocados are now successfully planted in Guangdong, Guangxi, Hainan, Fujian, Sichuan, Yunnan, Zhejiang, Guizhou, and other regions on a trial basis. According to the Chinese government, China will be able to produce more avocado fruit oil in the coming years because raw materials are so easily accessible. Furthermore, the growing demand for the product from other Asian countries, such as Malaysia and Japan, as well as its extensive availability through online and offline distribution channels, are expected to propel the regional market.

Global Avocado Oil Industry News

The companies operating in the worldwide avocado oil market include Olivado Group, Grupo Industrial Batellero, The Village Press, Chosen Foods LLC, La Tourangelle, Spectrum Organics, Crofts Limited, Kevala, and Bella Vado Avocado Oil. 

• In August 2022- Trash avocados are being used by a Michoacán company to produce biogas and organic fertilizer. Fertilizer and fuel can also be made from avocado peels and seeds. The tons of wasted avocados in Michoacán are converted into renewable energy.
• In October 2021- The American company Jackson’s Honest expanded its snack menu to include sweet potato chips in new packaging. In addition to the company’s original Sea Salt with Coconut Oil chips, three new flavors, spicy Tomatillo, Sea Salt, and Carolina BBQ, and made with avocado oil have been added.
• In September 2021- Butterfly announced a collaboration with industry pioneer Chosen Foods, makers of fundamental culinary items made with avocados, such as guacamole, salsa, simmer sauces, dressings, and cooking sprays.
• In March 2021- the pharmaceutical company Laboratoires Expanscience, which develops, produces, and sells dermo-cosmetic products, introduced a new organic, nutritious, and emollient oil made by cold-pressing entire avocados.

Type – Market breakup in 4 viewpoints:

1.    Extra Virgin Oil

2.    Virgin Oil

3.    Refined Oil

4.    Blends

Application– Market breakup in 4 viewpoints:

1.    Food and Beverages

2.    Cosmetics and Personal Care

3.    Pharmaceuticals

4.    Others

Distribution Channel – Market breakup in 5 viewpoints:

1.    Polyvalent Anti-Venom Supermarkets/Hypermarkets

2.    Specialty Stores

3.    Convenience Stores

4.    Online Stores

5.    Others

Country – Market breakup of 25 Countries:

1.    North America

1.1    United States

1.2    Canada

2.    Europe

2.1    France

2.2    Germany

2.3    Italy

2.4    Spain

2.5    United Kingdom

2.6    Belgium

2.7    Netherlands

2.8    Turkey

3.    Asia Pacific

3.1    China

3.2    Japan

3.3    India

3.4    South Korea

3.5    Thailand

3.6    Malaysia

3.7    Indonesia

3.8    Australia

3.9    New Zealand

4.    Latin America

4.1    Brazil

4.2    Mexico

4.3    Argentina

5.    Middle East & Africa

5.1    Saudi Arabia

5.2    UAE

5.3    South Africa

All the Key players have been covered from 3 Viewpoints:

•    Overview

•    Recent Development

•    Revenue Analysis

Company Analysis:

1.    Olivado Group, Grupo Industrial Batellero

2.    The Village Press

3.    Chosen Foods LLC

4.    La Tourangelle

5.    Spectrum Organics

6.    Crofts Limited

7.    Kevala

8.    Bella Vado Avocado Oil

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