by Avocado oil is extracted from the pulp of avocado fruit. It is used in cosmetics and personal care products due to the presence of oleic acid and antioxidants. Avocado oil is a versatile ingredient used in cosmetic formulations like lotions, moisturizers, serums, and hair care products due to its high nutritional value and emollient properties. It absorbs quickly into the skin without leaving an oily residue.
The global Avocado Oil Market is estimated to be valued at US$ 1660.15 Million in 2024 and is expected to exhibit a CAGR Of 5.7% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising adoption of avocado oil in cosmetics industry due to its skin benefiting properties is expected to drive the growth of the global avocado oil market over the forecast period. Avocado oil contains anti-inflammatory and antioxidant properties that help hydrate, nourish and soothe the skin. It is absorbed quickly into the skin without leaving any greasy after feel. These factors have increased the popularity of avocado oil among cosmetic manufacturers. Avocado oil promotes collagen production, reduces signs of aging, and improves the skin’s elasticity when used topically. Many cosmetic brands are incorporating avocado oil into their products such as moisturizers, lotions, serums and hair masks. Expanded cosmetic applications of avocado oil are projected to boost the demand significantly over the next few years.
Segment Analysis
The global avocado oil market is dominated by the commercial segment. This segment accounted for over 70% share of the total market in 2024 owing to the widescale use of avocado oil in food processing, cosmetics and personal care industries. Avocado oil is gaining popularity as a healthier cooking oil alternative to olive oil and other oils. It is rich in antioxidants, mono-unsaturated fatty acids and vitamins which make it suitable for various commercial applications.
PEST Analysis
Political: No major trade barriers exist for avocado oil trade globally. Most countries allow free import and export of avocado oil.
Economic: Rising disposable incomes and growing health consciousness is driving greater demand for premium products like avocado oil. Higher prices of avocado oil compared to other oils is a restraint.
Social: Changing lifestyles and busy schedules have increased the demand for convenience foods where avocado oil is used. Rising obesity levels is making people prefer healthier cooking oils.
Technological: Advancements in oil extraction processes have improved avocado oil yields and reduced costs. New varieties of disease resistant avocado trees are also being developed.
Key Takeaways
The Global Avocado Oil Market Demand is expected to witness high growth over the forecast period of 2023 to 2030 supported by rising health awareness.
Regional analysis:
The Asia Pacific region is projected to be the fastest growing regional market for avocado oil during the forecast period growing at a CAGR of over 8%. Countries like India, China, Thailand and Indonesia are witnessing higher avocado cultivation and oil extraction. Changing dietary patterns and expansion of global fast food chains is boosting avocado oil demand.
Key players operating in the avocado oil market are Cargill, Olivado, Spectrum Organics, Crofton, Avocado Global, Bella Vado and Madana.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
