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The Avocado Market is expected to reach USD 20,100 million by 2027, growing at a CAGR of 5.7% over the forecast period (2020-2027).
The factors driving the growth of Avocado Market includes rising consumers inclination towards adopting healthy lifestyle, growing demand for healthy foods, juices, and smoothies, increasing use of avocados in salads, desserts, and savory dishes, and prevalence of breast cancer around the world. Moreover, easy availability of avocados at supermarkets and online stores, rising awareness about the health benefits of avocado and growing popularity of sandwiches, omelets, and burritos amongst millennials, are some of the additional factors supplementing the market growth. In addition, rise in the launch of innovative avocado based beverages by companies, increasing investments by leading players on research and development, rapid urbanization, and growing population growth rates, are further contributing towards the market growth.
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However, growth of the Avocado Market is hindered attributed to fluctuations in the prices of fruits across the globe.
The leading players operating in the Avocado Market are The Horton Fruit Co., Inc., Fresh Del Monte, Superior Foods Companies, MCDANIEL FRUIT CO, West Pak Avocado, Inc., Henry Avocado Corporation, Del Rey Avocado Company, Inc., Brooks Tropicals, Salud Foodgroup Europe B.V. and Costa Group, among others.
Based on Nature, the Organic segment is predicted to grow at a significant CAGR during the forecast period
As per the Avocado Market Report, avocados possess adequate amount of iron, calcium, magnesium, and copper, along with growing demand for organic fruits and vegetables, are some of the factors responsible for the segment’s growth.
Based on Sales Channel, the Indirect segment is projected to expand at a remarkable CAGR over the forecast period
Indirect channels such as supermarkets and specialty stores, offer different varieties of avocado with attractive discount, are propelling the segment’s growth.
Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period
According to the Avocado Market Trends, easy availability of avocado at distribution channels, rising consumers consciousness about adopting healthy diets, rapid urbanization, increasing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
Key Development
In 2019, Del Rey Avocado Co. Inc., Fallbrook, Calif., planned to open a 43,000-square-foot cold storage, bagging and ripening operation in Vista, Calif. This expansion will help the company to move the avocados faster to the market.
Market Segmentation
Segmentation by Nature
Organic
Conventional
Segmentation by Form
Raw
Processed
Segmentation by End-Use
Food Industry
Retail
Cosmetic Industry
Other
Segmentation by Sales Channel
Direct
Indirect
Supermarket/Hypermarket
Specialty stores
E-retailers
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
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