Latin America And North America Contribute Large Share To Global Avocado Oil Market

https://www.coherentmarketinsights.com/market-insight/avocado-oil-market-1058
Avocado Oil Market 



Market Overview:

Avocado oil is obtained from ripe avocados through pressing or extruding. It is a source of healthy monounsaturated fat and vitamins A, D, E and K. Avocado oil has a rich flavor and high smoke point, making it suitable for cooking and cosmetic applications. The growing health-conscious population is driving the need for healthier cooking oils like avocado oil.

Market Key Trends:

Latin America accounts for the largest share in the global avocado oil market, primarily driven by countries like Mexico, Peru, Colombia and Chile. The ideal climatic conditions in these countries make them suitable for large-scale avocado cultivation. In Mexico alone, annual avocado production is over 1.8 million tons. Further, the increasing product export from Latin American countries to North America and Europe is also contributing to the regional market growth over the forecast period.

Segment Analysis

The global avocado oil market is segmented by source, grade, application and distribution channel. Based on source, it is segmented into hass, fuertes, reed and Others. The hass segment dominates the market and accounts for around 70% share as it has a buttery and creamy texture. Hass avocados are considered premium quality and therefore fetch higher prices.

The global Avocado Oil Market Growth is estimated to be valued at US$ 287.2 Million in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023-2033, as highlighted in a new report published by Coherent Market Insights

Key Takeaways

The global avocado oil market size is expected to reach US$ 482.5 million by 2033, expanding at a CAGR of 5.9% during the forecast period. The increased awareness regarding the health benefits of avocado oil such as the presence of antioxidants, vitamins and omega fatty acids is propelling the market growth.

Regional analysis
North America dominates the global avocado oil market and is estimated to account for around 45% share of the overall market by 2033. Mexico is the largest producer as well as exporter of avocado oil and growing health-conscious population in the US is driving high demand.

Key players
Key players operating in the avocado oil market are Sesajal S.A. de C.V., Olivado, Grupo Industrial Batellero S.A. de C.V, YASIN, Tron Hermanos SA de CV, The Village Press, Bella Vado, Chosen Foods LLC, and Storino's Quality Products. These players are focusing on new product developments and expansion of their distribution channels to strengthen their market position.

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