The avocado oil market is expected to gain considerable growth across the assessment period of 2017-2025, owing to their exceptional nutritional content presence. The use of avocado oil in cooking and hair and skincare solutions will bring promising growth. In addition, it is rich in texture and tastes good. All these factors bring tremendous growth opportunities for the avocado oil market.
- The pharmaceutical sector also generates extensive demand for avocado oil due to its exponential health benefits. The products also have an antioxidant, moisturizing, and toning effect that helps maintain the quality of the skin. Thus, all these aspects bode well for the growth of the avocado oil market.
- The players indulge in expansion activities and advertising strategies. Expansion activities help in seamless production and distribution of the products, while advertising strategies help reach out to the consumer and ultimately increase the revenues. All these aspects bring immense growth to the avocado oil market.
- Research and development activities also play a vital role in the growth of the avocado oil market. The players indulge in mergers, acquisitions, joint ventures, and partnerships for increasing their influence across the avocado oil market. This aspect eventually strengthens the web of growth across the avocado oil market.
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Avocado oil is directly extracted from the pulp of avocado fruit, instead of seed, like other oils. Most fruits primarily contain carbohydrates; however, avocado is high in fiber, potassium, possesses rich texture, healthy fats, good flavor, and guacamole. Pulp of the avocado fruit consists of about 30% oil, which is majorly composed of 20 different vitamins including vitamin K, C, E, B5, B6, omega 9 fatty acid, and oleic acid. Avocado oil is used in cooking oil and hair and skin care solutions due to its proven powerful health benefits. There are various types of avocados, which vary according to shape, from pear-shaped to round or and from green to black colored avocado; however, a highly popular type is the Hass avocado. Avocadoes do not contain any sodium or cholesterol, and they further helps reduce blood triglycerides, LDL (Low Density Lipoprotein) cholesterol and HDL (High Density Lipoprotein) cholesterol levels significantly.
Factors such as positive perception among health experts and consumers, nutrient rich composition, and rising awareness about healthy lifestyle are some of the factors which are expected to drive the global avocado market during the forecast period. Significant rise in health issues such as heart diseases and chronic diseases arising from substantial consumption of high fat butter and oils is boosting the demand for healthy oils. Some beneficial properties of avocado oils such as an optimum level of antioxidants and good fatty acids are the primary reasons for health experts to recommend its consumption. Furthermore, the availability of avocado all year round provides it with a competitive advantage to sustain demand all year. A major factor which is likely to hamper the market is the price of avocado oil. Avocado oils are marginally expensive, especially in developing countries, which is expected to hinder the adoption of avocado products. A major trend observed in market is mixing of flavored avocado oil with natural edible oils including almond oil, olive oil, safflower oil, coconut oil, grape seed oil, and shea butter. The mixture is blended in such a way that, characteristics of each oil can complement each other.
The global avocado oil market can be segmented based on type, variety, application, and region. Owing to the presence of numerous varieties of avocados, oil can be extracted from various sources. Therefore, based on variety, the market can be classified into Hass, Pinkerton, Gwen, Lamb Hass, Bacon, Zutano, Fuerte, and others. The Hass segment is expected to hold a significant share of the market share during the forecast period due to its considerable popularity and major health benefits. In terms of type, the avocado oil market can be segregated into extra-virgin oil, virgin oil, pure oil, and blends oil. Extra-virgin oil is extracted from superior quality avocado fruits at low temperatures without the addition of any chemical additives. Extra-virgin oil is of highest quality among all four type. Based on application, the market can be classified into personal care products, cooking, medicinal products, and others. Avocado oil is an ideal choice as frying oil while cooking due to its high smoking point. In terms of region, the global avocado oil market can be segmented into North America, Europe, Middle East & Africa, Asia Pacific, and South America. Developed regions, including the U.S. and Western Europe where awareness and price are not major concerns, are expected to witness strong demand for avocado oil. Countries in South America including Dominican Republic, Chile, Peru, Mexico, Brazil, and Colombia are major producers of avocado in the world.
Key players operating in the global avocado oil market include Bella Vado, Olivado, SESAJAL S.A. de C.V., CHOSEN FOODS LLC, Avocado Global Pte Ltd, Avoolio Oil De Mexico, BIO Planète, Kevala, The Village Press, Tron Hermanos, and La Tourangelle.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.