Avocado Oil Market Analysis

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