Avocado Oil Market Size Estimated to Reach $1.2 Billion by 2025

Avocado Oil Market size is estimated to reach $1.2 Billion by 2025, growing at a CAGR of 6.5% during the forecast period 2020-2025. Avocado Oil is an edible oil, which is obtained from extraction of the pulp and seed of the fruit (Persea Americana). It is used as an additional ingredient in different dishes and as substitute of cooking oil. Increase in the health consciousness among individuals, awareness about the nutritional benefits of avocado oil, changing customer preferences, and increase in the applications of avocado oil in pharmaceuticals and food industries are the factors that are set to drive the growth of the global market for the forecast period 2020-2025.

Key Takeaways

  • Geographically, North America Avocado Oil Market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to the high demand.
  • The increase in the number of chronic diseases and increase in the health consciousness among customers is likely to aid in the market growth of Avocado Oil Market.
  • Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Avocado Oil Market report.
  • The increase in the applications of avocado oil in pharmaceuticals and increase in the demand for plant-based cosmetics are creating higher opportunities for the growth of market for the forecast period 2020-2025.

Avocado Oil Market Segment Analysis – By Type

Based on the Type, the Extra Virgin segment held the largest share in 2019. This is owing to the factors such as rapid increase in the demand from developing countries, increase in the disposable income of individuals, increase in the awareness about the benefits of extra virgin avocado oil and increase in the applications of extra virgin avocado oil in cosmetics and food and Beverages.

Avocado Oil Market Segment Analysis – By Application

Based on the Application, Food and Beverages segment held the largest share in 2019 owing to the factors such as increase in the investment by the major companies, increase in the inclination towards sedentary lifestyle and growing preference for convenience foods.   Pharmaceuticals and Nutraceuticals segment is estimated to be the fastest growing segment owing to the factors such as increase in the number of chronic diseases, increase in the disposable income of individuals, increase in the health consciousness among individuals and increase in the investment by the major companies.

Avocado Oil Market Segment Analysis – By Geography

Based on the Geography, North America held the largest share in 2019. This is owing to the factors such as increase in the investment by the major companies in the developed nations, sedentary lifestyle, and applications of avocado oil in pharmaceuticals and food industries and increase in the demand for plant-based cosmetics. Europe is estimated to be the fastest growing segment owing to the factors such as increase in the health consciousness among individuals, increase in the disposable income of individuals and increase in the number of chronic diseases.

Avocado Oil Market Drivers

  • Increase in the health consciousness among individuals and increase in the demand for plant-based cosmetic products.

The increase in the health consciousness among individuals owing to increase in the number of chronic diseases is estimated to enhance the growth of Avocado Oil Market. Increase in the demand for plant-based cosmetic products is also estimated to enhance the growth of Avocado Oil Market.

  • Increase in the applications of avocado oil in pharmaceuticals 

There is an increase in the applications of avocado oil in pharmaceuticals and food industries owing to the growing demand. This led to rapid increase in the growth of Avocado Oil Market.

Avocado Oil Market Challenges

  • Increase in the alternatives to avocado oil and high costs of avocado oil.

Increase in the alternatives to avocado oil is one of the major concern that is likely to reduce the growth of the Avocado Oil Market. High costs of avocado oil is another setback for growth of the Avocado Oil Market.

Avocado Oil Market Industry outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Avocado Oil Market. Key companies of this market are Spectrum Organic Products LLC, Bella Vado Inc, Choosen Foods, La Tourangelle, The Village Press, Madana Inc, Olivado USA, Crofts Ltd, CalPure Foods Inc, Clibaria International among others.

Acquisitions/Product Launches:

  • In 2017, Choosen Foods has launched Avocado oil sprays at Winter Fancy Food Show to provide consumers with an approachable avenue to incorporate ancient foods into their diet.
  • In 2020, La Tourangelle has launched Salad Dressing Line with four flavors including Creamy made with Organic Avocado Oil, Sesame Salad made with Organic Sesame Oil, Classic Balsamic made with Organic Olive Oil and Cirus Chipotle made with Organic Virgin Avocado Oil.