February 25, 2024

The Global Avocado Oil Market Is Estimated To Propelled By Growing Health Benefits Awareness

Avocado oil has become a popular substitute for other vegetable oils owing to its numerous health benefits. Avocado oil is extracted from the pulp of avocado fruit and is loaded with monounsaturated fatty acids, vitamins, minerals and antioxidants. It is considered beneficial for heart health due to the presence of oleic acid.

The global avocado oil market is estimated to be valued at US$ 1912.5 Bn in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Avocado oil contains oleic acid which is a heart-healthy monounsaturated fat that helps reduce LDL or “bad” cholesterol levels. It also contains antioxidants such as vitamin E, vitamin K and polyhydroxylated fatty alcohols which helps reduce oxidative stress and protect cells from damage. The nutritional profile and various health benefits offered by avocado oil has made it a popular substitute for other commonly used vegetable oils, thereby propelling the avocado oil market growth over the forecast period.

SWOT Analysis
Strength: Avocado oil contains healthy fats that provide numerous health benefits like lowering risk of heart diseases. It has a neutral taste and high smoke point making it suitable for cooking.
Weakness: Avocado oil production is regional and seasonal based on availability of avocado fruits, resulting in unpredictable supply. Its production requires large acreage of avocado trees leading to high production costs.
Opportunity: Rising health consciousness is driving global demand for plant-based oils with nutritional benefits. Growing vegan population and clean label trend open new opportunities.
Threats: Price fluctuations in raw material avocado fruits depend on crop harvests exposed the market to supply risks. Growing awareness about environmental and social impacts of monocultures cultivation is a challenge.

Key Takeaways
The Global Avocado Oil Market Size is estimated to be valued at US$ 1912.5 Bn in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031.

North America holds the largest share in global avocado oil market due to rising consumption in cuisines and health drinks. Mexico is the dominating producer and supplier of avocado oil in the world attributed to suitable climatic conditions for avocado cultivation.

Key players
Key players operating in the avocado oil market are Cargill Incorporated, Archer Daniels Midland Company (ADM), Bunge Limited, Ingredion Incorporated, Tate & Lyle PLC, Didion Milling, Semo Milling, Agrana Beteiligungs-AG, The Andersons, Inc., LifeLine Foods. Cargill holds the leading position with wide global presence and established supply chain for avocado oil. ADM and Bunge are other major players focusing on strategic acquisitions and product innovation.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it