The global avocado oil market is expected to evolve at a CAGR of 5.5% and increase from its present value of US$ 556 million to US$ 950 million by the end of 2032.

North America, led by the United States, is set to dominate the global market throughout the forecast period. The North American avocado oil market garnered revenue worth US$ 272.21 million in 2021. Moreover, extra-virgin avocado oil is estimated to account for 44% share of global sales over the decade.

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By product, the pure oil category is set to generate a sizable market share during the anticipated time frame. Pure oil is highly valued in the cosmetics and personal care industry due to its high vitamin E content, low cost, and emollient properties. In addition, the benefits of applying avocado oil on the skin will also drive sales.

Avocados are a popular choice among health-conscious consumers who want to use an oil that is high in monounsaturated fatty acids and has a light flavor. It also does not have any of the cholesterol or trans fats found in butter and cooking oils. As more people turn to avocado oil for cooking, demand for the same will continue to grow. A third of all restaurants in the U.S., including McDonald’s, offer avocado oil as an option for their customers.

Key Takeaways:

In 2021, the North America avocado oil market created an absolute dollar opportunity of nearly US$ 272.21 Million.
Based on product, the extra-virgin oil segment is expected to account for 44% of the global avocado oil sales during the next ten years.
The global avocado oil market is projected to reach a valuation of US$ 556 Million by the end of 2022.
In Asia Pacific, China is set to generate maximum revenue by 2032 amid large-scale avocado planting activities in Guangdong, Yunnan, and Fujian provinces.
The U.S. avocado oil market is estimated to remain at the forefront in North America on the back of presence of key players like Olivado USA in the country.

Growth Drivers:

Growing popularity of organic personal care and cosmetic products is set to boost sales of specialty ingredients like avocado oil.
Avocado oil companies are projected to use recyclable packaging rather than plastic to attract more consumers who are concerned about the environment.

Restraints:

Easy availability of cost-effective avocado oil substitutes like olive oil and sunflower oil may hamper sales in the market.
Presence of many counterfeit products on supermarket and hypermarket shelves can hinder demand in the next ten years.