Global Avocado Market size to reach USD 22.26 billion by 2030, at growth rate (CAGR) of 4.8%

The global market for Avocados estimated at USD 15.30 Billion in the year 2022, is projected to reach a revised size of USD 22.26 Billion by 2030, growing at a CAGR of 4.8% over the period 2023-2030

Market Overview:

Avocados, also known as alligator pears or butter fruit, are a popular and versatile bright green fruit with a large pit and leathery skin. They are widely used in guacamole dips, salads, wraps, smoothies, and even brownies.

Although high in calories and fat, the monounsaturated fat they contain is considered beneficial for cholesterol levels if consumed in moderation. The global demand for avocados is rising due to their high-nutrient content, with processed avocados gaining popularity.

Avocado-based snacks are particularly favored in countries with busy lifestyles and large working-age populations, such as India, China, Brazil, Turkey, South Africa, Italy, Germany, the U.S., and Russia.

Top Key Players for Avocado Market:

McDaniel Fruit Co. (California), Henry Avocado Corporation (U.S.), Del Rey Avocado Co. Inc. (U.S.), Calavo Growers Inc.

(U.S.), West Pak Avocado Inc. (California), Westfalia Fruit (South Africa), Fresh Del Monte Produce Inc. (U.S.), Olivado (U.S.), Superior Foods Companies (U.S.), Brooks Tropicals Holding Inc.

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The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels.

For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.

Market Dynamics and Factors for Avocado Market:

Drivers:

Increasing Health Consciousness Among People

Growing consumer interest in healthy living has led to a rise in the consumption of nutritious foods and ingredients. Avocados, being exceptionally nutritious fruits, are packed with healthy fats, fiber, and essential vitamins and minerals like magnesium, B6, vitamin C, vitamin E, and folate.

Research indicates that regular avocado consumption may positively impact heart disease risk factors and promote gut health, as demonstrated in a study with overweight adults consuming avocados daily for 12 weeks. This increased awareness of healthy eating habits is driving the popularity of avocados as a beneficial addition to people's diets.

Opportunities:

Increasing Demand For Avocados Including Hass Avocados

Consumers' preference for healthier options has led to a shift towards smaller, more frequent meals and an increasing demand for better-for-you snacks. Avocado, Greek yogurt, and nutrition bars fall into this category.

In the European market, the Hass avocado variety is gaining prominence due to its nutritional value and versatility. It has become the most popular choice in supermarkets, meeting certification, and pesticide residue requirements.

The retail sector is expected to dominate the global avocado market, driven by the growing demand for fresh avocados. In the United States, avocados have experienced a remarkable surge in popularity, with consumption increasing significantly from 436 million pounds in 1985 to over 2.7 billion pounds in 2020, especially among the Millennial generation.

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Segmentation Analysis of the Avocado Market:

By Form, the Raw segment is Anticipated to Dominate the Market Over the Forecast period. Global manufacturers are implementing new production technologies as a result, of the increasing demand for raw fruit, and fresh avocados' popularity among consumers can be attributed to rising fresh food consumption and easy product availability.

By End-Users, Food and Beverages Industry is dominating among the end-users in the avocado market due to the fruit's versatility and widespread use in various culinary applications.

By Nature

• Organic
• Conventional

By Form

• Raw
• Processed

By Distribution Channel

• Online
• Supermarkets
• Specialty stores
• Others

By End Users

• Food and Beverages Industry
• Retail Industry
• Cosmetics and Personal Care
• Others

Regional Analysis of the Avocado Market:

North America is projected to dominate the avocado market in the forecast period, with a per capita consumption of 8.0 pounds in 2019. The increasing demand for nutritious foods is expected to sustain the consumption of fresh avocados in the coming years.

The avocado has become a dietary staple in the region, fueled by the rising popularity of Mexican cuisine and a health-conscious population seeking longevity.

• North America (US, Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)

Key Industry Development:

In April 2022, West Pak Avocado, a global supplier of premium avocados, announced the expansion of its Apeel treatment capabilities with a new installation at the company’s facility in Michoacán, Mexico. The first installation took place at West Pak’s Murrieta, California facility in 2021.

The addition of the Michoacán installation in early 2022 will significantly increase the company’s capacity to supply Apeel-protected avocados.

In May 2022, West Pak Avocado, Inc. announced the official launch of the Party Pak of avocados.

This bag of jumbo fruit transitions with every season, featuring a new look and a reason to celebrate the goodness of avocados. Festive seasonal packing highlights recipes on the grab-and-go bag.

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