Avocado Market

Global Avocado Market Size (2024 to 2029):

The global market for avocados in 2024 was estimated at $10.98 billion. The avocado market has been trending upward since 2012. The avocados market is anticipated to record a CAGR of 6.0% in the forecast period to an estimated US $14.90 billion by the end of 2029.

Avocados are high in vitamins A, B, C, E, and K, as well as 25 other nutrients. It also contains phytochemicals, such as beta-sitosterol, and antioxidants, such as lycopene and beta-carotene. Essential nutrients increase the demand for the fruit.

Global Avocado Market Drivers:

With the growing middle-class population and growing awareness of the nutritional value and health benefits among millennials, the increased demand for avocado imports facilitates the demand for avocado.

In addition, the increasing availability of ready-to-eat avocados and improved online and offline distribution channels are expected to strengthen the avocado market. Additionally, customers are increasingly aware of the many health benefits associated with consuming avocado. This awareness is needed to generate much more interest in superfoods, which will shape the business in the future.

This, in addition, the increase in acceptance and consumption of avocados has increased due to an increase in advertising and promotion spending for avocados in the United States which has driven market demand. Seasonal demand and growing awareness of avocado's health benefits are increasing demand. Avocado may satisfy growing consumer health awareness, as a superfood rich in omega and other multiple quality nutrients boost the avocado market worldwide.

While avocado can be eaten directly in its ripe form, food manufacturers believe it could be used in different variations to appeal to consumers. Various avocado products, such as jellies, jams, juices, sauces, candies, chutney, etc., are introduced into various cuisines to arouse the interest of people. Several players in the food market are exploring new products with the avocado touch to open up new commercial avenues. These aspects are expected to drive the growth of the global avocado market.

Plus, research has shown the benefits of using avocado in skincare products. Avocados are a major component in the cosmetics sector for Skincare products. The positive results in terms of activity indicate a stable growth potential in this new scenario. Hence, consumption in the global avocado market is expected to skyrocket during the forecast period.

Global Avocado Market Restraints:

The expansion of the avocado market is constrained by the rising number of purchasers of healthier food, whether for clinical reasons or to embrace a sound lifestyle.

Competition is intense in the international avocado industry as many new competitors enter the market. Perishability of the fruit, resulting in a huge volume of waste product, is perhaps the largest issue in the market for fresh avocados. Maturation at the destination is difficult to control and can lead to product loss and waste. The appetite for this superfruit seems to be growing continuously around the world. However, the supply of avocado producers does not seem to meet this demand at the same rate.

Impact of COVID-19 on the Global Avocado market:

Amid an extraordinarily rapid decline in global economic activity and international transportation, the global supply and demand for avocados have experienced COVID-19-related disruption and contractions through various transmission channels. On the supply side, the negative effects of physical distancing measures have tended to be more immediate for the production and trade of avocados, which are relatively labor-intensive. Due to their high perishability, avocados require timely and well-coordinated harvest and post-harvest handling, as well as uninterrupted cold chains. Delays in the supply chain are particularly problematic for avocados due to the decrease in transportation during the blockage, which not only affected product quality but also reduced the weight and value of shipments received by countries importers.

REPORT COVERAGE: 

This research report on the Global Avocado Market has been segmented and sub- segmented based on nature, form, & distribution channels. 

Global Avocado Market - By Nature:

the conventional segment is expected to represent the main contributions to the global market revenues. The organic segment is expected to show a significant CAGR in terms of revenue, due to the growing preference for organic foods due to the growing trend of health-conscious consumers to avoid fruits and vegetables grown with pesticides and fertilizers.

• Organic
• Conventional

Global Avocado Market - By Form: processed segment is expected to dominate in terms of revenue share during the forecast period. Revenue from the Processed Forms segment is expected to grow at a higher rate during the forecast period due to the many associated health benefits on offer.

Global Avocado Market - By Distribution Channels:

the indirect sales segment is expected to represent the main revenue contributions in the global target market. This can be attributed to the growing demand for lawyers in the retail industry.

Global Avocado Market - By End-Use:

The retail industry segment is expected to grow rapidly due to the high demand. This can be attributed to the increasing consumption of healthy foods and health awareness among young adults.

• Food Industry
• Retail
• Cosmetic Industry
• Other Uses

Global Avocado Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

The North American market is expected to register a decreasing growth rate during the forecast year due to higher consumption in countries in the region. The European market is estimated to represent the second-highest percentage of income, due to the higher consumption of processed avocado products in countries in the region. The Asia-Pacific market is expected to account for the highest CAGR during the forecast period owing to the growing demand for fresh avocados, the increased shift to healthy food options, and the increase in disposable income of consumers in the countries of this region. Latin America and Middle East & Africa are esteemed to have the significant growth opportunities in the coming years.

KEY MARKET PLAYERS:

Key Market Players of Global Avocado Market are Calavo Growers, Inc, Del Rey Avocado Company, Inc, WestPak, Westfaliafruit, Mission Produce Inc, Avehass, JBR Avocados, Propal.