Global Extra Virgin Avocado Oil Market Report and Forecast 2024-2032

Global Extra Virgin Avocado Oil Market Outlook

The global extra virgin avocado oil market size reached approximately USD 462.80 billion in 2023. The market is projected to grow at a CAGR of 4.5% between 2024 and 2032, reaching a value of around USD 678.56 million by 2032.

Key Trends in the Market

Avocado oil is an edible oil obtained from the pulp of the ripened fruit of Persea americana. It is considered to be one of the best fats to consume. It is mainly comprised of oleic acids and palmitoleic acids with healthy amounts of polyunsaturates (linoleic and linolenic acids) and saturates (palmitic and stearic acids.

Extra avocado olive oil is usually produced from pure cold pressed avocados, which enables the oil to possess a slight green colour with a light and nutty flavour. This oil tends to possess a distinctive rich colour and a peppery flavour profile.

• One of the key global extra virgin avocado oil market trends is the rising adoption of vegan and vegetarian lifestyles around the world. Consumers are increasingly becoming aware of animal cruelty, which has led to an increased demand for alternatives to animal-based products.

• The global extra virgin avocado oil market growth is expected to be propelled in the forecast period by the rising application of olive oils in cosmetic products. This trend is amplified by the numerous benefits of the ingredient, including anti-ageing properties and the ability to lock in moisture. In addition, olive oil contains squalene and is capable of penetrating deeper into the skin, making it a potent nourisher.

• Another noticeable factor positively influencing the global extra virgin avocado oil market demand is the rising health awareness among people around the world, which has created a shift in consumer interest towards healthy cooking. Moreover, healthy oils such as extra virgin avocado olive oil can also be beneficial against medical conditions such as diabetes, high blood pressure, and coronary heart diseases.

Market Analysis

Based on application, the market can be segmented into food and beverage and cosmetic, among others. The global extra virgin avocado oil market segmentation, based on distribution channel, includes supermarkets and hypermarkets, convenience store, and online store, among others. The major regional markets for extra virgin avocado oil are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global extra virgin avocado oil market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Aconcagua Oil & Extract SA

• South Press Co. Ltd. 

• Avocado Health Limited

• Tanlay AG (Olivado)

• Avomexicano Inc.

• Avocado Oil New Zealand Ltd.

• The Village Press Ltd.

• Others

Market Share by Application

According to the global extra virgin avocado oil market analysis, the food and beverage sector is one of the main users of extra virgin avocado oil. The increasing interest of consumers towards healthy food products is likely to be the key factor compelling players in the food and beverage sector to include healthy ingredients in processed food products. Moreover, the rising awareness about healthy oils has also led to an increased application of such ingredients in home cooking, which further propels the growth of the market.

Market Share by Distribution Channels

The rapid expansion of the e-commerce sector is expected to significantly augment the global extra virgin avocado oil market share in the near future. E-commerce platforms provide a convenient way to access a large variety of products and the customer can get the products delivered to their desired address. In addition, the growth of the market segment is substantially supported by the rapidly developing network technologies as it enables more users to connect with high-speed internet.

Competitive Landscape

South Press Co. Ltd. is a United Kingdom-based company operating in the food sector. The company was established in the year 2018 and since then has developed avocado, macadamia nuts, and British rapeseed based extra virgin oils.

Avocado Health Limited is a family-owned business engaged in marketing and distributing avocado oils globally. Its current product portfolio includes extra virgin avocado oil, crude/raw unrefined avocado oil, and refined avocado oil. The company’s history dates back to 1998 when it was started on a small scale and later Avocado Health Limited was established in 2002.

Tanlay AG (Olivado) is a New Zealand-based extra virgin avocado oil manufacturing company. Since its incorporation in 2000, the company has established its place in the global market for the production of various products, including avocado oils, olive oils, coconut oils, peanut oil, and macadamia nut oil, among others.

Other global extra virgin avocado oil market players include Aconcagua Oil & Extract SA, Avomexicano Inc., Avocado Oil New Zealand Ltd., and The Village Press Ltd., among others.

Key Highlights of the Report