Avocado Oil Market Size By Product Type (Refined Avocado Oil, Extra Virgin Avocado Oil, Virgin Avocado Oil, Others), By Application (Food and Beverages, Cosmetics and Personal Care, Pharmaceuticals, Others), Distribution Channel & Global Forecast, 2023 – 2032

Avocado Oil Market Size

Avocado Oil Market size valued at USD 593.62 million in 2022 and is estimated to expand at over 5.4% CAGR from 2023 to 2032. Avocado oil is known for its various health benefits. It is rich in monounsaturated fats, vitamin E, and antioxidants. As consumers become more health-conscious and seek out healthier alternatives in their diets, the demand for avocado oil as a healthier cooking oil and ingredient has risen. With the increasing focus on natural and organic products, avocado oil has gained significant popularity. It is considered a natural, minimally processed oil that is free from chemicals and additives, making it attractive to consumers who prefer organic and clean-label products.
 

 Avocado oil is widely used in the cosmetics and personal care industry due to its moisturizing, anti-aging, and skin-nourishing properties. The demand for natural and organic ingredients in skincare and haircare products has fueled the growth of avocado oil in this sector. Personal Care Ingredients Market size was valued at nearly USD 11.62 billion in 2021 and is estimated to grow at a CAGR of 6.3% during the forecast timeframe.
 

Avocado oil prices can be subject to significant fluctuations due to factors such as avocado crop yields, weather conditions, and global demand. Fluctuating prices can impact profit margins for producers, processors, and distributors, making it challenging to maintain stability in the market. Avocado oil production involves a complex supply chain that includes farmers, processors, distributors, and retailers. Coordinating and managing the supply chain effectively can be challenging, particularly when dealing with multiple suppliers, ensuring consistent quality, and meeting demand fluctuations.
 

COVID-19 Impact

The foodservice sector, including restaurants, cafes, and catering services, has been severely affected by lockdowns, social distancing measures, and reduced dining-in options. This has led to a decline in the demand for avocado oil from the foodservice industry, which is a significant consumer of cooking oils. International trade disruptions, including travel restrictions and border closures, have affected the export and import of avocados and avocado oil. This has impacted the global availability and pricing of avocado oil, particularly in regions that heavily rely on imports.
 

Avocado Oil Market Trends

The growing adoption of plant-based diets, including vegan and vegetarian lifestyles, has contributed to the rising demand for avocado oil. As consumers seek healthier and sustainable alternatives to animal-based products, avocado oil has gained prominence as a versatile and nutritious cooking oil and ingredient. The demand for natural and organic food products continues to grow, and this trend extends to avocado oil as well. Consumers are increasingly seeking clean-label, minimally processed oils, free from additives and chemicals. Avocado oil, with its natural extraction process and organic variants, fits well with this trend and has gained popularity among health-conscious consumers.
 

Avocado Oil Market Analysis

The virgin avocado oil market holds majority industry value of USD 149.59 million in 2022. Virgin avocado oil is known for its excellent nutritional profile. It is rich in monounsaturated fats, which are considered heart healthy. Additionally, it contains vitamins and minerals such as vitamin E, potassium, and antioxidants, which offer various health benefits. As people become more health-conscious, they are seeking out healthier cooking oil options, and virgin avocado oil fits the bill. Virgin avocado oil is also gaining popularity in the beauty and personal care industry. It is known for its moisturizing and nourishing properties, making it a sought-after ingredient in skincare products, hair care products, and cosmetics. The natural and organic qualities of virgin avocado oil appeal to consumers looking for clean and sustainable beauty options.
 

The food and beverages application held around 26.2% of avocado oil market share in 2022. Avocado oil is considered a healthier alternative to traditional cooking oils due to its beneficial fat composition. It is high in monounsaturated fats, particularly oleic acid, which is known to have positive effects on heart health. Consumers are becoming more health-conscious and are seeking out healthier options in their food and beverages, leading to an increased demand for avocado oil. Cosmetic oil market size exceeded USD 4.8 billion in 2020 and is estimated to grow at over 5.5% CAGR during the forecast period. Food additives market size valued at USD 100 billion in 2022 and is projected to register 7% CAGR from 2023 to 2032.
 

The avocado oil market from supermarkets and hypermarkets segment accounted for 26.8% revenue share in 2022. Supermarkets and hypermarkets offer a wide range of products under one roof, making them convenient shopping destinations for consumers. Avocado oil has become more widely available in these retail outlets, increasing its accessibility to a larger consumer base. As more supermarkets and hypermarkets stock avocado oil, consumers are exposed to and can easily purchase the product, leading to increased demand.
 

U.S. dominated the North American region with majority avocado oil market share and a revenue of USD 170.8 million in 2021. The focus on health and wellness is a long-term trend that shows no signs of slowing down. Consumers in North America are increasingly seeking healthier alternatives in their diets, including cooking oils. Avocado oil, with its perceived health benefits and nutritional profile, aligns well with this growing health-consciousness. North American consumers have shown a growing preference for natural and organic products, including cooking oils. Avocado oil, being minimally processed and free from additives, fits well with this trend and has seen increased demand as consumers seek clean-label and sustainable options.
 

Avocado Oil Market Share

Some of the major companies operating in the avocado oil market are:

• Chosen Foods
• Olivado
• La Tourangelle
• Primal Kitche
• Baja Precious
• Now Foods.

These companies focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these companies are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Avocado Oil Industry News:

• In March 2022, Grove Avocado Oil, has purchased Fressure Foods from New Zealand food service produce supplier, Fresh Technologies. By acquiring the company, Grove will be able to enhance its product output through the utilization of avocado parts that were previously unused and discarded during the process of making avocado oil, specifically the flesh.
   

The avocado oil market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD Million from 2018 to 2032 for the following segments:

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Market, By Product Type

• Refined Avocado Oil
• Extra Virgin Avocado Oil
• Virgin Avocado Oil
• Others

Market, By Application

• Food and Beverages
  • Bakery & Confectionery
  • Beverages
  • Dairy & Frozen Dessert
  • Sweet & Savory Snacks
  • Cooking Oil
  • Salad Dressings
  • Snacks and Appetizers
  • Others
• Cosmetics and Personal Care
• Pharmaceuticals
• Others

Market, By Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Retail
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE