Avocado oil is extracted from the fruit of the avocado plant through cold pressing. It has a rich, buttery texture and mild flavor. Avocado oil contains monounsaturated fatty acids like oleic acid which provides various health benefits. It helps reduce inflammation, lower cholesterol levels and supports heart health. The oil also contains vitamins A, D, E and K along with antioxidants which help protect skin and hair. Due to these health promoting qualities of avocado oil, it is gaining traction as a superfood worldwide.
The global avocado oil market is estimated to be valued at US$ 665.9 Mn in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031.
Key Takeaways
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, Storino's Quality Products., Aromex Industry, AOS Products Pvt. Ltd., Gustav Heess, Spectrum Organics Products, LLC, La Tourangelle, Inc., Proteco Gold Pty Ltd., Grove Avocado Oil, Cibaria International, Plenty Foods, Avocado Oil New Zealand Ltd, and AG Organica.
There is a growing demand for avocado oil owing to rising health consciousness and shifting preferences towards plant-based superfoods. The rich nutritional profile and various culinary applications of avocado oil are driving its uptake in the food industry, contributing to the growth of the Avocado Oil Market size production and exports from countries such as Mexico, Indonesia, Peru, Colombia and Dominican Republic. The growth of retail and food service sectors especially in Asia Pacific and South America are propelling international trade of avocado oil.
Market Key Trends
Growing popularity of cold-pressed extraction method for avocado oil is one key trend. Cold pressing retains maximum nutrients and flavor compared to other extraction processes like solvent extraction. It involves mechanically crushing avocados without applying any heat thus maintaining the delicate phytonutrients. Premiumization of avocado oil as a result of its attributed health image is fueling consumer shift towards cold-pressed varieties.
Porter's Analysis
Threat of new entrants: New companies find it difficult to enter this market as established players have strong brand recognition and distribution channels.
Bargaining power of buyers: Buyers have moderate bargaining power as there are several established brands to choose from.
Bargaining power of suppliers: Suppliers of avocado have significant bargaining power as avocados are an essential raw material with fluctuations in supply.
Threat of new substitutes: Vegetable and other cooking oils are substitutes but avocado oil has certain health benefits that reduce threat of substitution.
Competitive rivalry: The market has several international and domestic players competing on price and quality.
Geographical Regions
Mexico is also a major producer and consumer of avocado oil in this region, highlighting key insights from the Avocado Oil Market Regional Analysis accounts for the major share of the global avocado oil market value owing to high consumption and availability in the US and copyright.
Asia Pacific region is expected to witness the fastest growth during the forecast period due to the rising health-conscious population and increased use of avocado oil as a cooking medium in countries like India, China, and Japan. There is an increasing inclination towards healthy oils with various nutritional benefits.
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