What Is The Scope Of The Global Avocados Market?
An avocado is a fruit characterized by a thick green skin and a creamy, mild flesh. It is a pulpy fruit with green to purple skin and a nutty flavor. They are rich in fiber, healthy fats, vitamin E, vitamin K, and potassium, making them a nutritious choice.
Avocados Global Market Report 2024 provides data on the global avocados market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Avocados market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Projections Can We Expect For The Size And Growth Rates Of The Global Avocados Market?
The avocados market size has shown strong growth, increasing from $17.66 billion in 2023 to $19.37 billion in 2024 at a CAGR of 9.7%. This growth in the historic period is driven by growing consumer awareness of the health benefits of avocados, their nutritional value, and their popularity in organic food segments. Factors such as changing dietary habits and increased demand for convenient and healthy food options have further boosted market growth. Looking ahead, the market is expected to grow to $28.15 billion in 2028 with a CAGR of 9.8%, driven by the shift towards online platforms for avocado product sales, rising consumer preference for organic foods, and the increasing incorporation of avocados in snacks, convenience foods, and ready-to-eat meals. Major trends in the forecast period include innovations in food processing and packaging technologies, expansion of avocado-based beauty and personal care products, growing adoption of vegan and vegetarian diets, and the versatility of avocados in culinary applications.
What Are The Core Factors Supporting Growth In The Avocados Market?
The avocado market is anticipated to grow driven by increasing awareness of its health benefits. Consumers are increasingly prioritizing preventive healthcare and recognizing the nutritional value of avocados, rich in vitamins (K, C, E, B), minerals (potassium, magnesium, copper), and dietary fiber. According to the International Food Information Council, 52% of Americans followed a diet or eating pattern in 2022, up from previous years. This rising health awareness underscores the avocado's market growth through 2023, 2024, and 2028.
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What Are The Major Segments Within The Global Avocados Market?
The avocados market covered in this report is segmented –
1) By Type: Hass Avocado, Other Types
2) By Form: Fresh, Processed
3) By Application: Food, Cosmetic, Medical, Other Applications
4) By Distribution Channel: Business-To-Business (B2B), Business-To-Consumers (B2C)
Which Trends Are Expected To Transform The Avocados Market?
Major companies in the avocado market are developing new varieties using advanced technologies like high-pressure processing (HPP) to produce high-quality avocados. HPP is a food preservation method that inactivates harmful microorganisms and enzymes, preserving the nutritional quality, flavor, and texture of the food. For instance, in October 2023, Halls Fresh Produce, a South Africa-based food company, launched the Naked Avocado, a product designed to minimize waste and ensure consistently ripe, pre-prepared avocados. Packaged with three avocado halves devoid of skin and pits, this product uses HPP technology to extend its refrigerated shelf life to one month.
What Is The Fastest Growing Region In The Avocados Market?
North America was the largest region in the avocados market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the avocados market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
