Analytical Report of Avocado Oil Sales in Korea from 2023 to 2033
The sales of avocado oil in Korea are likely to exhibit a CAGR of 5.1% through 2033. Avocado oil in Korea is poised to witness significant opportunities with a valuation of US$ 2.2 million in 2023. Cosmetics manufacturers across the country are increasingly seeking natural ingredients for their products.
Health-conscious consumers and a trend toward a healthy lifestyle are influencing the demand for avocado oil in Korea. With avocados becoming more affordable and health concerns associated with other cooking oils, avocado consumption is expected to rise. By 2033, adoption of avocado oil in Korean countries is likely to secure US$ 3.6 million.
Key Highlights to Understand Emerging and Fast-growing Opportunities
An increase in the demand for organic oil is expected to significantly boost sales.
Increased awareness of ethically sourced products is expected to continue to fuel the usage of avocado oil.
Advances in technology and consumer demands for cost-effective processing techniques are driving avocado oil to reach new heights.
The increasing cosmetic industries and growing skincare awareness are likely to contribute to the growth of this industry.
Attributes
Details
Industry size of Korea in 2023
US$ 2.2 million
Expected Industry Size of Korea by 2033
US$ 3.6 million
Forecasted CAGR between 2023 to 2033
5.1%
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Key Trends Influencing Demand for Avocado Oil in Korea
Avocado oil has become increasingly popular with consumers due to its perceived natural qualities and benefits over other cooking oils.
The growing popularity of plant-based diets and veganism is expected to increase the demand for avocado oil in Korea.
Avocado oil sales in Korea are following an increasing trend toward recyclable packaging to reduce environmental impact.
Edible oil manufacturers are employing cutting-edge technology to make their oils more nutritious, which is expected to increase demand.
Comparative View of Adjacent Avocado Oil in Key Economies
Drawing from the data presented in the table below, a comparison is made between the avocado oil industry demand in Japan and Western Europe along with in Korea.
Demand for Avocado Oil in Korea:
Attributes
Demand for Avocado Oil in Korea
CAGR from 2023 to 2033
5.1%
Expected Valuation in 2023
US$ 2.2 million
Key Trend
A high smoke point and mild, buttery flavor make avocado oil a popular choice.
Key Opportunities
The moisturizing properties of avocados become more widely known, creating new opportunities.
Industry Analysis of Avocado Oil in Western Europe:
Attributes
Industry Analysis of Avocado Oil in Western Europe
CAGR between 2023 and 2033
6.9%
Industry Size in 2023
US$ 146 million
Key Trends
High monounsaturated fat content, known for its heart-healthy properties, makes avocado oil popular for cooking.
Key Opportunities
Rising investment in research and development activities could create opportunities.
Demand for Avocado Oil in Japan:
Attributes
Demand for Avocado Oil in Japan
CAGR (2023 to 2033)
5.4%
Valuation (2023)
US$ 29 million
Key Trend
High quality and premium avocado oil are key trends.
Key Opportunities
Rising e-commerce business and growing social media influence to create opportunities.
Find your sweet spots for generating winning opportunities in this market.
City-wise Insights
Increasing Awareness of Healthy Eating to Boost Avocado Oil in South Gyeongsang
Changing dietary trends are likely to influence South Gyeongsang residents' eating habits and their quest for alternative cooking oils, including avocado oil. In an era where health-conscious individuals are increasingly focused on monounsaturated fats in their diet, avocado oil emerges as an appealing choice.
Popularity of Plant-based Diet among North Jeolla Residents Increases Avocado Oil Demand
As a superfood, avocado, which yields avocado oil, is commonly used in salads, sandwiches, and various other dishes. With consumers seeking natural and healthier alternatives, the popularity of avocado oil may increase. Various diet trends, such as paleo, low-carb, and keto, contribute to avocado oil's popularity among individuals adhering to these diets.
Avocado oil is often promoted as a health-promoting ingredient, particularly for its ability to support heart health, which can pique consumer interest. As consumers grow more environmentally aware and health-conscious, natural, plant-based products are gaining increasing popularity. Hence, the increasing consumer awareness is driving the demand for innovative avocado oil in this area.
Rising Safety and Regulation in South Jeolla to Boost Avocado Oil Growth
Avocado oil demand has experienced significant growth in South Jeolla. Mayonnaise and sauces, which are high in calories, are increasingly being flavored with avocado oil, leading to a rise in demand. The demand for avocado oil is anticipated to continue to grow considerably in during the forecast period, attributed to its content of fiber and beneficial vitamins for humans.
The popularity of avocado-based dishes and products likely contributed to the use of avocado oil in South Jeolla. Avocado is becoming an increasingly popular and versatile ingredient in various cuisines. With an increase in safety regulations in the country, there is a rising demand for higher-quality avocado oil products.
Category-wise insights
Extra Virgin Oil Remains a Prominent Avocado Oil Type in Korea
Extra virgin oil holds a larger industry share in the Korean avocado oil industry. Increased consumption of personal care and purchasing power has likely increased demand for extra virgin oil in the future years.
Korea Avocado Oil Industry Based on Product Type
Extra Virgin
Industry Share in 2023
47.6%
Korea’s avocado oil industry is projected to be dominated by extra virgin oil until 2033 with an industry share of 47.6%. Various food industries are becoming increasingly concerned about the safety and health of the food they serve. Various studies about how these oils can benefit skin are driving the business. The emergence and increasing popularity of Korean skincare is likely to be influenced by social trends.
Hass Avocado Oil is Transforming Beauty and Culinary Landscapes in Korea
The Hass segment is likely to be dominant in 2023 holding 81.5% industry share. Hass-based avocado oil enjoys immense popularity in Korea due to its exceptional nutritional profile, particularly prized for enriching salads and sandwiches. This variant of avocado is widely accessible in both fresh and frozen forms through prominent retail outlets and online marketplaces.
Korea Avocado Oil Industry Based on Variety
Hass
Industry Share in 2023
81.5%
In Korea, the production of premium extra virgin avocado oil primarily relies on the robustly aromatic Hass and Fuerte varieties, known for their superior quality. This highly sought-after oil finds extensive applications in both the cosmetics and food and beverage industries, cementing its status as the preferred choice for health-conscious consumers and discerning culinary enthusiasts.
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Competitive Landscape
Companies producing avocado oil actively contribute to expansion through their expertise, resources, and commitment to sustainability. Avocado oil manufacturers also engage in strategic collaborations with influential social media users, cultivating long-term relationships for future business opportunities. Mergers and acquisitions serve as a strategy employed by many large companies to extend their geographic reach and bolster revenue.
SOLMOI F G CO: SOLMOI F G CO is recognized as the premier exporter and supplier of avocado oil in Korea. The company is renowned for its expertise in producing and providing high-quality avocado oil products. Its specialization includes the export and supply of avocado oil.
ChungCheong K-VENTURE: ChungCheong K-VENTURE is a company that specializes in producing extra virgin avocado oil. The company is dedicated to maintaining high standards of quality and purity in its avocado oil products. It excels in crafting extra virgin avocado oil.
Olivado: Olivado is a globally recognized company and is considered the world's leading producer of avocado oil. The company has a significant presence in the Korean avocado oil industry and is known for its extensive experience and expertise in avocado oil production. Its specialization lies in being a world leader in the production of avocado oil.
Korea Avocado Oil Industry Key Players Include
O'Farm
Solmoi F G Co Ltd
AvoLov
Green Envy
ChungCheong K-VENTURE
Ottavio
The Face Shop
Jeju Orchards
Olivado
Beksul
Aguacate
Nature's Way
Skin Food
Berjé Inc
Scope of Report
Attributes
Details
Estimated Industry Size in 2023
US$ 2.2 million
Projected Industry Valuation by 2033
US$ 3.6 million
Value-based CAGR 2023 to 2033
5.1%
Historical Analysis of the Avocado Oil in Korea
2018 to 2022
Demand Forecast for Avocado Oil in Korea
2023 to 2033
Report Coverage
Industry Size, Industry Trends, Analysis of key factors influencing Avocado Oil in Korea Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korea Providers
Key Cities Analyzed While Studying Opportunities in Avocado Oil in Korea
South Gyeongsang
North Jeolla
South Jeolla
Jeju
Key Companies Profiled
Sabrina Cho
Vaga Trading & Services Corp.
Mayak Inc
SOLMOI FG CO LTD
KWANGCHEONKIM CO LTD
KMARTGROUP CO LTD
Key Segments
By Type:
Extra Virgin Oil
Virgin Oil
Pure/Refined Oil
Blend
By Application:
Food and Beverages
Pharmaceuticals and Medicinal Formulation
Personal Care and Cosmetics
Others
By Cities/Provinces:
South Gyeongsang
North Jeolla
South Jeolla
Jeju
Frequently Asked Questions
What is the Current Size of the Avocado Oil Industry in Korea?
The avocado oil industry in Korea is currently valued at US$ 2.2 million by 2023.
By 2033, what will be the Overall Value Share of Avocado Oil in Korea?
By 2033, avocado oil sales in Korea is estimated to reach a value of US$ 3.6 million.
What is the Anticipated Growth Rate of Avocado Oil in Korea?
Between 2023 and 2033, avocado oil industry is expected to increase by 5.1% in Korea.
Which Product Type of Avocado Oil in Korea is likely to Dominate?
Based on product type, the demand for extra virgin oil is likely to increase in the coming years.
Table of Content
1. Executive Summary
1.1. Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Litres) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Litres) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Product Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Litres) Analysis By Product Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Litres) Analysis and Forecast By Product Type, 2023 to 2033
5.3.1. Extra Virgin Oil
5.3.2. Virgin Oil
5.3.3. Refined
5.4. Y-o-Y Growth Trend Analysis By Product Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product Type, 2023 to 2033
6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Variety
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Litres) Analysis By Variety, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Litres) Analysis and Forecast By Variety, 2023 to 2033
6.3.1. Hass
6.3.2. Fuerte
6.3.3. Zutano
6.3.4. Bacon
6.3.5. Lamb Hass
6.3.6. Gwen
6.3.7. Others
6.4. Y-o-Y Growth Trend Analysis By Variety, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Variety, 2023 to 2033
7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Nature
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (Litres) Analysis By Nature, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) & Volume (Litres) Analysis and Forecast By Nature, 2023 to 2033
7.3.1. Organic
7.3.2. Conventional
7.4. Y-o-Y Growth Trend Analysis By Nature, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Nature, 2023 to 2033
8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By End Use
8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Million) & Volume (Litres) Analysis By End Use, 2018 to 2022
8.3. Current and Future Market Size Value (US$ Million) & Volume (Litres) Analysis and Forecast By End Use, 2023 to 2033
8.3.1. Personal Care and Cosmetics
8.3.1.1. Skin care
8.3.1.2. Hair Care
8.3.1.3. Bath Care
8.3.2. Food and Beverage Processing
8.3.3. Functional Food and Dietary Supplements
8.3.4. Foodservice
8.3.5. Retail
8.4. Y-o-Y Growth Trend Analysis By End Use, 2018 to 2022
8.5. Absolute $ Opportunity Analysis By End Use, 2023 to 2033
9. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel
9.1. Introduction / Key Findings
9.2. Historical Market Size Value (US$ Million) & Volume (Litres) Analysis By Distribution Channel, 2018 to 2022
9.3. Current and Future Market Size Value (US$ Million) & Volume (Litres) Analysis and Forecast By Distribution Channel, 2023 to 2033
9.3.1. Direct Sales
9.3.2. Indirect Sales
9.3.2.1. Hypermarket/Supermarket
9.3.2.2. Convenience Stores
9.3.2.3. Independent Small Stores
9.3.2.4. Online Retailing
9.3.2.5. Others
9.4. Y-o-Y Growth Trend Analysis By Distribution Channel, 2018 to 2022
9.5. Absolute $ Opportunity Analysis By Distribution Channel, 2023 to 2033
10. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
10.1. Introduction
10.2. Historical Market Size Value (US$ Million) & Volume (Litres) Analysis By Region, 2018 to 2022
10.3. Current Market Size Value (US$ Million) & Volume (Litres) Analysis and Forecast By Region, 2023 to 2033
10.3.1. South Gyeongsang
10.3.2. North Jeolla
10.3.3. South Jeolla
10.3.4. Jeju
10.3.5. Rest of Korea
10.4. Market Attractiveness Analysis By Region
11. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
11.1. Historical Market Size Value (US$ Million) & Volume (Litres) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Litres) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Product Type
11.2.2. By Variety
11.2.3. By Nature
11.2.4. By End Use
11.2.5. By Distribution Channel
11.3. Market Attractiveness Analysis
11.3.1. By Product Type
11.3.2. By Variety
11.3.3. By Nature
11.3.4. By End Use
11.3.5. By Distribution Channel
11.4. Key Takeaways
12. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
12.1. Historical Market Size Value (US$ Million) & Volume (Litres) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Litres) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Product Type
12.2.2. By Variety
12.2.3. By Nature
12.2.4. By End Use
12.2.5. By Distribution Channel
12.3. Market Attractiveness Analysis
12.3.1. By Product Type
12.3.2. By Variety
12.3.3. By Nature
12.3.4. By End Use
12.3.5. By Distribution Channel
12.4. Key Takeaways
13. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
13.1. Historical Market Size Value (US$ Million) & Volume (Litres) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) & Volume (Litres) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Product Type
13.2.2. By Variety
13.2.3. By Nature
13.2.4. By End Use
13.2.5. By Distribution Channel
13.3. Market Attractiveness Analysis
13.3.1. By Product Type
13.3.2. By Variety
13.3.3. By Nature
13.3.4. By End Use
13.3.5. By Distribution Channel
13.4. Key Takeaways
14. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
14.1. Historical Market Size Value (US$ Million) & Volume (Litres) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) & Volume (Litres) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Product Type
14.2.2. By Variety
14.2.3. By Nature
14.2.4. By End Use
14.2.5. By Distribution Channel
14.3. Market Attractiveness Analysis
14.3.1. By Product Type
14.3.2. By Variety
14.3.3. By Nature
14.3.4. By End Use
14.3.5. By Distribution Channel
14.4. Key Takeaways
15. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
15.1. Historical Market Size Value (US$ Million) & Volume (Litres) Trend Analysis By Market Taxonomy, 2018 to 2022
15.2. Market Size Value (US$ Million) & Volume (Litres) Forecast By Market Taxonomy, 2023 to 2033
15.2.1. By Product Type
15.2.2. By Variety
15.2.3. By Nature
15.2.4. By End Use
15.2.5. By Distribution Channel
15.3. Market Attractiveness Analysis
15.3.1. By Product Type
15.3.2. By Variety
15.3.3. By Nature
15.3.4. By End Use
15.3.5. By Distribution Channel
15.4. Key Takeaways
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Product Type
16.3.3. By Variety
16.3.4. By Nature
16.3.5. By End Use
16.3.6. By Distribution Channel
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. AVO F&C
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.2. Crofts Ltd.
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.3. H&K Co., Ltd.
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.4. Nobel Foods
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.5. Spectrum Organics Products, LLC
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.6. Bella Vado Inc.
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.7. The Village Press
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.8. La Tourangelle, Inc.
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.9. Proteco Gold Pty Ltd.
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.10. Sesajal S.A de C.V.
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
17.1.11. Grupo Industrial Batellero
17.1.11.1. Overview
17.1.11.2. Product Portfolio
17.1.11.3. Profitability by Market Segments
17.1.11.4. Sales Footprint
17.1.11.5. Strategy Overview
17.1.11.5.1. Marketing Strategy
17.1.12. Grove Avocado Oil
17.1.12.1. Overview
17.1.12.2. Product Portfolio
17.1.12.3. Profitability by Market Segments
17.1.12.4. Sales Footprint
17.1.12.5. Strategy Overview
17.1.12.5.1. Marketing Strategy
17.1.13. Cibaria International
17.1.13.1. Overview
17.1.13.2. Product Portfolio
17.1.13.3. Profitability by Market Segments
17.1.13.4. Sales Footprint
17.1.13.5. Strategy Overview
17.1.13.5.1. Marketing Strategy
17.1.14. Olivado USA
17.1.14.1. Overview
17.1.14.2. Product Portfolio
17.1.14.3. Profitability by Market Segments
17.1.14.4. Sales Footprint
17.1.14.5. Strategy Overview
17.1.14.5.1. Marketing Strategy
18. Assumptions & Acronyms Used19. Research Methodology
