June 18, 2024

The Growing Popularity Of Avocado Oil Is Driven By Its Numerous Health Benefits

Avocado oil is derived from the fruit of Persea Americana tree through a process of cold pressing. It has a rich, nutty flavor and offers a variety of health benefits due to its high concentration of antioxidants, monounsaturated fatty acids, and vitamins. Avocado oil is commonly used in cooking, baking, and cosmetic products. It has a high smoke point, which makes it suitable for sauteing or heating. The oil also helps reduce cholesterol levels and supports heart health. Avocado oil contains oleic acid, which may help control blood sugar levels and reduce inflammation. The numerous health advantages of avocado oil have led to rising popularity in the food industry and personal care products.

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 5.7% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

 

One of the major trends in the avocado oil market is its increasing usage in cosmetic products. Avocado oil contains vitamin E and K along with omega fatty acids that help nourish and hydrate skin. It is commonly used in moisturizers, sunscreens, anti-aging creams and massage oils due to its anti-inflammatory and regenerative properties. The hydrating and soothing qualities of avocado oil make it suitable for all skin types including sensitive skin. The growing personal care industry has led to a surge in demand for avocado oil. Manufacturers are incorporating avocado oil into various skincare formulations to capitalize on the trend.

 

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate. While avocado oil production has low capital requirements, the market is highly competitive with well established players.

Bargaining power of buyers: The bargaining power of buyers is high given many substitutes are available. Buyers can switch to other edible oils easily.

Bargaining power of suppliers: The bargaining power of suppliers is moderate. Few large suppliers control the supply of avocado fruits.

Threat of new substitutes: The threat of substitutes is high as there are many edible oil alternatives like olive oil, soybean oil available.

Competitive rivalry: The competitive rivalry is high among existing producers and private label brands.

Key Takeaways

The Global Avocado Oil Market Demand is expected to witness high growth over the forecast period.

The Latin America region currently dominates the avocado oil market owing to the large production of avocados in Mexico and Chile. Mexico is the largest producer of avocado oil worldwide.

Key players operating in the avocado oil market are Cargill, Olivado, Sesajal, Chosen Foods, Grupo Industrial Batellero, Yasin, Bella Vado, La Tourangelle, Avoolio, Ahuacatlan Avocado Oil, Mt. Kenya Fresh Avocados, Kevala, Bio Planete, Hain Celestial Group, Da Gama Avocado Oil, Cate de mi Corazon, Tron Hermanos, Proteco Oils, Westfalia, Aconcagua Oil & Extract. Cargill is one of the leading players in the global avocado oil market.

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