Global avocado oil market to reach US$10B in 2027
The global avocado oil market is expected to reach US$10 billion in 2027, according to a report by ResearchAndMarkets.com.
The product, which is made using the pulp of avocados, contains over 70% of the heart-healthy oleic acid, a monounsaturated omega-9 fatty acid.
This has secured demand in a global scenario where consumers are becoming more and more health conscious.
Worldwide supply and demand for avocado also experienced COVID-19 pandemic-related disruptions and contractions across various transmission pathways through slow growth rate.
In addition, avocados were severely affected by slow development in market demand due to shrinkage in transport during pandemic-induced lockdowns, which harmed product quality and reduced the weight and value of shipments received by importing countries.
However, post-pandemic, the sector reached US$6.7 billion in 2021, with online stores showing the biggest growth.
“The hypermarkets and supermarkets category accounted for a significant share of the worldwide avocado oil market. At the same time, online retail is estimated to develop at the quickest rate throughout the forecast period,” the report said.
The Asia Pacific is the fastest expanding region, partially driven by the rising trend of plant-based personal care and cosmetic products.