The global market value for avocado oil is valued to be ~ US$ 1 billion in 2019.
Fact.MR’s recent study on the avocado oil market shows that the market is expected to grow with a CAGR of ~ 8% in the forecast period. Avocado oil contains high protein, antioxidant properties, soluble & insoluble fibers and various vitamins and minerals. The demand for avocado oil is expected to increase over the forecast period owing to its extensive use in cooking. Moreover, the beauty and cosmetics industry is also using avocado oil in numerous products as an ingredient, mainly to reduce blemishes, dry skin, wrinkles, and acne. Avocado oil is also used for the treatment of major health-related problems such as coronary heart diseases and cholesterol. Overall, the avocado oil market has set its footprint in three major industries, which is expected to boost the demand for avocado oil in the future.
Incidences of lifestyle diseases such as cardiovascular disorders, are mounting across the globe. For instance, in the United States about 610,000 individuals die due to heart disorders each year. Awareness regarding health issues and suitable precautionary measures have gained increased importance ever since. Scientists and medical experts have been researching upon various natural treatments and solutions for such chronic diseases. This has pushed the research on avocado oil owing to the health benefits associated with its consumption.
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Fact.MR, in its new research publication, has stated that the global market for avocado oil is projected to expand at a stellar rate in the coming years. According to this research, the global avocado oil market growth is expected to rise significantly during the period of forecast, 2019-2029. In addition, the volume of avocado oil being sold is estimated to be more than 160,000 metric tons in 2019 and the demand is expected to increase in the forecast period. This growth is largely driven by its nutrient rich composition, increased awareness regarding the benefits of the product among consumers and health experts alike, and higher demand for avocado oil in cosmetics and personal care products.
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Growing Awareness for a Healthy Lifestyle to Fuel the Demand for Avocado Oil
Higher consumer inclination towards a healthy lifestyle has pushed the consumption of healthy food products and ingredients. Of late, people have become more conscious regarding their diet and food intake. In addition, obesity rate has also increased since 2016. During this period, more than 1.9 billion people, especially adults, were overweight. According to WHO, obesity and over weight problems are the main causes of deaths. To combat these health issues, individuals are increasing their consumption of healthy vegetables and fruits, such as avocados that reduce cholesterol levels and triglycerides, which is expected to aid the demand for avocado oil.
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Product Innovation is Proving to be a Winning Imperative in the Avocado Oil Market
The cold pressed extraction technique was first investigated in the 1980s but its commercial use was only possible a few years back. This opened up new possibilities of manufacturing virgin and extra-virgin oil from avocado as the oil after extraction did not need an additional extraction process. Also, avocado oil can be produced organically and the yield was also high when this process was used. This improved the quality of the oil processed and the manufacturers could manufacture avocado oil of cosmetic and food grade quality.
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