Avocado Oil Market to Surpass 892.3 Million by 2030 Drives Due to the Growing Need for Different Cooking Oils
SkyQuest projects that the avocado oil market will attain a value of USD 892.3 million by 2030, with a CAGR of 5.82% over the forecast period (2023-2030). The increasing global population and the growing need for different cooking oils drive the rising demand in the market. As consumers become more health-conscious, they seek various edible oils that offer specific health benefits. Avocado oil, has gained popularity owing to its numerous advantages.
Westford, USA, June 21, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, a recent trend in the Avocado Oil Market is the growing preference for recyclable packaging to promote environmental sustainability. Consumers are actively seeking alternative packaging options with increasing awareness of the negative impact of plastic waste pollution and the ecological consequences of plastic production.
Browse in-depth TOC on “Avocado Oil Market.”
- Pages – 242
- Tables – 65
- Figures – 72
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Avocado oil contains various beneficial components, including potassium, vitamins such as A, D, and E, and monounsaturated fats. These properties contribute to the growing popularity of avocado oil in the market. One prominent feature of avocado oil is its high smoke point, preventing it from overheating during cooking. This makes it a preferred choice for high-temperature cooking methods.
Prominent Players in Avocado Oil Market
- Olivado
- Sesajal S.A. de C.V.
- The Grove Avocado Oil Co.
- Crofts Limited
- Chosen Foods LLC
- Grupo Industrial Batellero, S.A. de C.V.
- Tron Hermanos, S.A. de C.V.
- Proteco Oils
- La Tourangelle, Inc.
- Ahuacatlan Avocado Oil
- AvoPure
- CalPure Foods, Inc.
- Cibaria International
- Bella Vado, Inc.
- Westfalia Fruit (Pty) Ltd
- Bio Planète
- Hain Celestial Group, Inc.
Cosmetics and Personal Care Goods Segment is Expected to Grow the Market Due to its Favorable Characteristics
The cosmetics and personal care goods segment is expected to take the lead in driving the growth of the avocado oil industry. Avocado Oil is highly valued in this industry, even when compared to lanolin, owing to its favorable characteristics. Despite its green hue and mild scent, avocado oil offers excellent skin penetration, a high concentration of vitamin E, and remarkable preservation properties.
The markets in the United States emerged as the dominant market for avocado oil in the North America region, capturing a significant market share and generating a revenue of USD 170.8 million. The region’s focus on health and wellness has become a long-term trend that continues to gain momentum. Consumers in North America are increasingly prioritizing their health and actively seeking healthier alternatives for various food products, including cooking oils.
Food and Beverages Segment is Expected to Dominate the Market Due to Rising Demand for Avocado Oil
The use of Avocado Oil in the food and beverages industry is anticipated to exhibit the highest CAGR in the coming years. This growth can be attributed to several factors, including the increasing consumer preference for specialty food products. Consumers are increasingly seeking unique and high-quality food items, which has led to a surge in demand for avocado oil as an ingredient in processed food products.
Regional markets in the Asia Pacific region is projected to experience the highest CAGR in the coming years, primarily driven by the increasing popularity of avocados in countries such as China and Japan. China has witnessed significant growth in avocado cultivation in recent years, particularly in provinces such as Guangdong, Yunnan, and Fujian.
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A comprehensive analysis of the major players in the avocado oil market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in Avocado Oil Market
- Recently, Jackson’s Honest, an American company, introduced new packaging for their snack options, including sweet potato chips. Alongside their original Sea Salt with Coconut Oil chips, they have expanded their inventory with three additional flavors: Spicy Tomatillo, Sea Salt, and Carolina BBQ. These new flavors are made using avocado oil, offering consumers various tasty options.
- Vital Farms, a Texas-based company known for its pasture-raised products, recently launched a new product: pasture-raised butter with avocado oil and sea salt. This tub of butter boasts a rich and creamy texture, making it suitable for various cooking applications. The butter is made from a combination of butter, 100% pure avocado oil, and sea salt, creating a flavorful and versatile product.
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Key Questions Answered in Avocado Oil Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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