Guacamole Market Global Size, Growth Insight, Share, Trends
Guacamole has several health advantages and is a fantastic source of potassium, antioxidants, and healthy fats. As a result, the demand for guacamole is expected to rise dramatically as more people try to lead healthier lives by eating wholesome meals. Guacamole enhances heart health, prevents stroke, lessens liver damage, and fights inflammation. It also helps the brain and liver to operate better. It also helps to reduce deeper visceral belly fat and keeps a person full until their next meal by encouraging satiety. The guacamole market was valued at $852.30 million in 2021, and is estimated to reach $1.5 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031.
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𝐌𝐚𝐣𝐨𝐫 𝐊𝐞𝐲 Players In This Market
The major players operating in the guacamole industry focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. Some of the key players in the guacamole market industry, include Avoking, Calavo Growers, Inc., Casa Sanchez SF, Hormel Foods Corporation, Sabra Dipping Co., LLC, Salud Foodgroup Europe b.v, Snowcrest, Westfalia Fruit Ltd, Woolworths Group ltd, and Landec Corporation.
𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:
In 2021, North America accounted for a 48.4% share of the guacamole market and is expected to maintain its dominance during the forecast period. The popularity of Mexican food outside of Mexico is helping the guacamole business expand. Major market participants are also all concentrated in North America, where domestic production of raw material is declining.
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Key finding of the study
By end-user, the food service industry segment was the highest revenue contributor to the market with $394.5 million in 2021, and is estimated to reach $675.2 million by 2031, with a CAGR of 5.7%.
By packaging, the glass bottles segment was the highest revenue contributor to the market, with $417.1 million in 2021, and is estimated to reach $720.4 million by 2031, with a CAGR of 5.8%.
By distribution channel, the specialty store was significant revenue contributor to the market, with $164.6 million in 2021, and expected to grow at CAGR of 5.8% during forecast period.
Region-wise, North America was the highest revenue contributor, accounting for $412.5 million in 2021, and is estimated to reach $653.3 million by 2031, with a CAGR of 4.9%.
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