What are the Historical Developments and Current Growth Metrics of the Avocado Market?
The avocado market has seen considerable growth due to a variety of factors.
• The size of the avocado market has seen substantial growth in the past few years. It's projected to increase from $16.24 billion in 2024 to $17.56 billion in 2025, with an 8.2% compound annual growth rate (CAGR). Factors such as health and nutrition trends, shifts in dietary habits, cooking trends, enhancements in the supply chain, and globalization of markets are believed to have propelled this growth.
What Is The Projected Growth Of The Avocado Market?
The Avocado market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the avocado market is projected to witness significant expansion in the upcoming years. It is anticipated to reach a valuation of $23.29 billion in 2029, growing at a compound annual growth rate (CAGR) of 7.3%.
Factors contributing to the projected growth during this period include the persisting trend of health-consciousness, versatile culinary uses, adoption of sustainable farming methods, growth in global production and tapping into new markets. Key trends that will shape the forecast period encompass innovative packaging for avocados, emphasis on social and environmental impacts, diversification of avocado types, inclusion of avocado in beauty and personal care products and the global spread of avocado consumption.
What Are The Key Drivers Fueling Growth In The Avocado Market?
The surge in demand from end consumers, like the food and beverage sector, is projected to spur the growth of the avocado market in the coming years. The food and beverage industry is composed of companies involved in the handling, processing, packaging, and distribution of raw food items. Avocados, which are highly nutritious and adaptable, can support heart health, digestion, as well as weight management. Including these foods in a nutritious diet can offer numerous health advantages and aid individuals in leading healthier lives. For instance, in April 2022, Common Thread Collective, a US-based digital sales firm, reported that in 2022, worldwide food and beverage eCommerce sales amounted to $506 billion, indicating a 16.3% annual growth. Sales are predicted to rise to $857 billion by 2025, with an estimated compound annual growth rate (CAGR) of 19.2%. Hence, the escalating demand from end customers, such as the food and beverage industry, is propelling the growth of the avocado market.
What Are The Principal Market Segments In The Global Avocado Industry?
The avocado market covered in this report is segmented –
1) By Type: Hass Avocado, Bacon Avocado, Other Types
2) By Form: Raw, Processed
3) By Nature: Organic, Conventional
4) By Distribution Channel: Hyper markets Or Super markets, Departmental Stores, Online Channels, Other Distribution Channels
5) By End-User: Food And Beverage Industry, Retail, Cosmetics And Personal Care, Other End-User Industries
Subsegments:
1) By Hass Avocado: Regular Hass Avocado, Organic Hass Avocado
2) By Bacon Avocado: Regular Bacon Avocado, Organic Bacon Avocado
3) By Other Types: Fuerte Avocado, Pinkerton Avocado, Zutano Avocado, Other Varieties
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Which Emerging Market Trends Are Altering The Avocado Industry?
The avocado market is experiencing a trend of improved storage capacities. To enhance efficiency, minimize waste, and better product quality, numerous avant-garde storage and maturation units for avocados are being constructed and integrated into the business. For example, Westfalia Fruit France, a French firm specializing in the storage and supply of fresh fruits, initiated the building of a new location in Graveson, a part of the Bouches-du-Rhône department in southern France, as of October 2022. The upcoming facility, scheduled to commence operations in November 2022, will incorporate avocado storage and ripening rooms along with packaging facilities. It is planned to be state-of-the-art, giving Westfalia Fruit France an opportunity to expand its regional operations. The main advantage of this new construction is to ensure sustained viability through the use of innovative technology and materials like thermal insulation, common area motion detectors, and green energy.
Who Are the Key Players In The Avocado Market?
Major companies operating in the avocado market include:
• Calavo Growers Inc.
• West Pak Avocado Inc.
• Westfalia Fruit
• Mission Produce Inc.
• Empacadora Avehass S.A. de C.V.
• Aguacates JBR
• Duclos Farms
• AustChilli Group
• Simpson Farms
• McDaniel Fruit Co.
• Henry Avocado Corporation
• Del Rey Avocado Co. Inc.
• Brooks Tropicals LLC
• Melissas World Variety Produce Inc.
• Oppy
• Costa Group Holdings Ltd.
• Camposol S.A.
• Hormel Foods Corporation
• Yucatan Foods LP
• Olivado
• Avogratto
• Fresh Del Monte
• Limoneira
• MegaMex Foods LLC
What Are The Regional Insights Into The Avocado Market?
North America was the largest region in the avocado market in 2024. The regions covered in the avocado market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
