Global Avocado Market Overview, 2024-29
The Global Avocado Market is segmented into By Type (Hass, Reed, Fuerte and Others), By End User (Food & Beverages, Retail, Cosmetics & Personal Care and Others), By Form (Fresh and Processed) and By Distribution Channel (Online and Offline).
- Bonafide Research
- 02-09-2024
- Pages : 104
- Figures : 18
- Tables : 30
- Region : Global
- Category : Food & Beverages
- Food
The Global Avocado Market is anticipated to cross USD 24 Billion by 2029, increasing from USD 15.86 Billion in 2023 with 7.40% CAGR by 2024-29.
- Historical Period2018-2022
- Base Year2023
- Forecast Period2024-2029
- Market Size (2023) USD 15.86 Billion
- Market Size (2029) USD 24 Billion
- CAGR (2024-2029) 7.4%
- Largest MarketNorth America
- Fastest Market Asia-Pacific
- Format
Featured Companies
- 1. FieldFresh Foods Private Limited
- 2. Hormel food
- 3. Fresca Group Ltd
- 4. Beva Fruits International
- 5. Austchilli Group
- 6. Costa Group Holdings Limited
- 7. Zespri International Limited
- 8. Avocado Jaguacy
- 9. Exportadora Subsole S.A.
- More...
Avocado Market Analysis
The avocado market has seen unprecedented growth, turning this once niche fruit into a global commodity. Avocados contain vitamins A, B, C, E, and K, including 25 essential nutrients. They also contain phytochemicals (like beta-sitosterol) and antioxidants (like lycopene and beta-carotene). These essential nutrients are boosting the demand for avocados globally, acting as major driving forces behind the growth of the market. The demand for avocados is increasing globally due to their health benefits, as they improve vision, prevent heart-related diseases, and help improve digestion. The increased demand across the globe has resulted in increased production. Increasing awareness of avocados' health benefits and availability in the market is increasing the demand worldwide. The growing consciousness among consumers regarding their health, whose concerns can be met by avocado since it is a superfood rich in omega and other multi-nutrient quality, has helped drive the avocado market worldwide. Avocado is one of the most nutrient-dense foods available. The fruit contains fiber, folate, potassium, vitamin E, and magnesium. Moreover, the expanding food retail business and the growing product launches of avocado-based products (such as dips in fast food retailing giants) have increased restaurant chains' demand for avocados in continental and other cuisines. Due to all these factors, avocados are no longer considered an exotic but an everyday product. In recent years, the demand from Asia-Pacific has increased due to its wide availability in the retail market, affordability, and rising disposable incomes. The avocado market is experiencing a transformation, largely fueled by the growing demand for whole fruits and a rising preference for low-carbohydrate diets. Recognized as a superfood, avocados boast a rich nutrient profile that includes essential vitamins, minerals, and antioxidants. Popular avocado-based dishes like guacamole and avocado toast have further propelled market revenue, especially among health-conscious consumers. According to the research report "Global Avocado Market Overview, 2029," published by Bonafide Research, The Global avocado market was valued at more than USD 15 Billion in 2023. The increased popularity of nutritious snacks among millennials due to the increased health consciousness is expected to bolster the demand in the upcoming years. In recent years, consumers have been opting for snacks referred to as superfoods, including high levels of mono-saturated fat, potassium, fiber, folate, essential vitamins, and minerals. Hence, manufacturers are innovating existing avocado-based snacks to relaunch them in different flavors for consumers. The increasing emphasis on healthier and more nutritious foods, coupled with the growing popularity of specific diets such as vegetarianism, veganism, and ketogenic diets, are expected to significantly enhance the global avocado market growth during the forecast period. Avocados are rich in monounsaturated fats, fibre, vitamins, and minerals, making them a popular choice among health-conscious consumers. Technological advancements related to transportation, preservation of perishable products, and trade network developments have enabled wider distribution of avocados around the world. Globalisation has significantly augmented the global avocado market demand and the reach of the fruit to regions where it was previously considered exotic or seasonal. Countries that was once unable to have access to fresh avocados now have the opportunity to do so year-round. Bilateral and multilateral trade agreements have opened up markets, reducing tariffs and trade barriers, thus facilitating the smoother international trade of agricultural products like avocados. Improved logistics and trade networks have also enabled avocado producers to access new and emerging markets, expanding their global footprint.
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Download SampleMarket Dynamic
Market Drivers • Growth of the Food Service Sector:The food service sector, encompassing restaurants, cafes, and fast-casual chains, has significantly contributed to the global avocado market's growth. Innovative menu items, such as avocado toast, guacamole, and avocado-based salads, have become staples in dining establishments, driven by consumer demand for healthier and trendier food options. The rise of gourmet and casual dining, along with increased consumer spending on dining out, has amplified avocado usage. Restaurants often leverage avocados to attract health-conscious customers and differentiate themselves from competitors, fueling further market expansion and innovation in avocado-based offerings. • Rising Popularity in Culinary Uses:Avocados have gained widespread acclaim in the culinary world for their versatility and health benefits. They are used in a variety of dishes, from traditional guacamole to contemporary items like avocado smoothies and sushi. Their creamy texture and mild flavor make them suitable for diverse cuisines, appealing to a broad audience. The trend towards healthier eating has further boosted their popularity, with avocados featured in numerous recipes and food trends. This versatility and health appeal drive consumer interest and create new opportunities for avocado-based products. Market Challenges • Market Volatility and Supply Chain Issues:The avocado market is prone to volatility due to factors like weather conditions, political instability, and fluctuating crop yields. Weather events such as droughts or floods can impact production, leading to price fluctuations. Additionally, logistical challenges in transporting avocados from producing regions to global markets can result in supply chain disruptions. These issues contribute to price instability and affect availability. Ensuring a stable supply involves addressing these challenges through improved logistics, diversified sourcing, and better forecasting methods to mitigate the effects of market volatility. • Regulatory and Trade Barriers:Regulatory and trade barriers pose significant challenges in the avocado market. Different countries have varying regulations regarding food safety, quality standards, and pesticide use, complicating international trade. Trade disputes and tariffs can also affect the flow of avocados across borders, impacting prices and availability. Compliance with diverse regulations requires exporters to navigate complex legal and bureaucratic environments. Addressing these barriers involves adapting to regulatory requirements, engaging in international trade agreements, and implementing strategies to minimize disruptions and ensure smooth market access. Market Trends • Growing Demand for Organic Avocados:The demand for organic avocados is rising as consumers increasingly prioritize health and environmental sustainability. Organic avocados, grown without synthetic pesticides and fertilizers, appeal to health-conscious individuals and those concerned about environmental impact. Certification programs and labels help consumers identify organic products, driving growth in this segment. This trend reflects a broader movement towards organic and sustainably sourced foods. Producers are investing in organic farming practices to meet this demand, which supports market expansion and aligns with consumer preferences for cleaner and more responsible food choices. • Technological Advancements in Farming:Technological advancements are transforming avocado farming, improving efficiency and sustainability. Innovations like precision agriculture, which utilizes data analytics, drones, and sensors, help optimize irrigation, monitor crop health, and manage resources more effectively. These technologies enhance yield and reduce waste. Additionally, genetic research is developing avocado varieties resistant to pests and diseases, supporting long-term production stability. By adopting these technologies, avocado farmers can address challenges such as climate change and resource management, leading to more resilient and productive farming practices.
Avocado Segmentation
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Europe | Germany | |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Russia | ||
| Asia-Pacific | China | |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| South America | Brazil | |
| Argentina | ||
| Colombia | ||
| MEA | United Arab Emirates | |
| Saudi Arabia | ||
| South Africa |
The primary reason Hass avocados dominate the global avocado market is their superior taste, texture, and adaptability to various climates, which has led to widespread consumer preference and increased cultivation. Hass avocados are favored for their creamy texture and rich flavor, making them a staple in various culinary applications, from guacamole to salads and smoothies. This popularity is bolstered by a growing consumer awareness of the health benefits associated with avocados, such as their high content of healthy fats, vitamins, and minerals. As the middle-class population expands globally, particularly in developed countries, the demand for healthy food options has surged, further driving the preference for Hass avocados. Additionally, their ability to thrive in diverse climatic conditions has allowed for extensive cultivation across multiple regions, including Mexico, the United States, and Peru, ensuring a steady supply to meet the increasing global demand. The global avocado market is primarily driven by the food and beverage industry due to the increasing popularity of avocados as a versatile ingredient in various culinary applications, coupled with the growing health consciousness among consumers and the expansion of the food service sector. Avocados have gained widespread popularity as a favored ingredient in numerous dishes, such as guacamole dip, salads, sandwiches, and even avocado toast, becoming a staple on the menus of numerous restaurants across the globe. The creamy texture and rich flavor of Hass avocados, the most popular variety, make them a perfect addition to various culinary creations. As people become more health-conscious, the demand for nutrient-rich foods like avocados has surged, further driving their consumption in the food and beverage industry. Avocados are packed with essential nutrients such as vitamins C, B5, B6, E, and K, along with potassium, folate, protein, and beneficial fats, making them an attractive choice for health-conscious consumers. Additionally, the expansion of the food service sector, particularly in developed countries, has contributed to the growth of the avocado market in the food and beverage industry. As more people dine out or order takeout, the demand for avocado-based dishes has increased, leading to a rise in their usage by restaurants and food chains. The surge in demand has also led to a rise in avocado production worldwide, with Mexico leading as the top producer, followed by other countries like Peru, Chile, and the Dominican Republic. The food and beverage industry's focus on delivering high-quality avocado products with superior texture and packaging has further fueled the market growth. The leading position of fresh avocados in the global avocado market is primarily attributed to the rising consumer demand for healthy, natural food options, which has significantly boosted their popularity in both retail and food service sectors. Fresh avocados have become increasingly sought after as consumers prioritize health and wellness in their diets. This shift is driven by the growing awareness of the nutritional benefits of avocados, which are rich in healthy fats, vitamins, and minerals. Fresh avocados are now commonly featured in various dishes, from salads and smoothies to gourmet entrees, appealing to a wide range of culinary preferences. The convenience of fresh avocados, which can be easily incorporated into meals or consumed as snacks, further enhances their appeal. Additionally, the rise of plant-based diets and the increasing popularity of clean eating have led to a surge in demand for fresh produce, with avocados often being highlighted as a superfood. The retail landscape has also adapted to this trend, with supermarkets and specialty stores expanding their fresh produce sections and emphasizing the availability of high-quality avocados. Innovative marketing strategies, such as promoting avocados as a versatile ingredient for quick and healthy meals, have helped to solidify their presence in consumers' minds. Furthermore, the food service industry has embraced fresh avocados, integrating them into menus to cater to health-conscious diners, particularly in cafes and restaurants. The leading position of offline sales in the global avocado market is primarily due to the established consumer preference for purchasing fresh produce directly from physical retail outlets, which offer the advantage of immediate product inspection and a wider variety of options. Offline retail channels, including supermarkets, grocery stores, and farmers' markets, provide consumers with the opportunity to personally select avocados based on their ripeness and quality, which is particularly important for a product that is sensitive to freshness and texture. Many consumers prefer to physically inspect avocados to ensure they are buying ripe, high-quality fruit, as avocados can vary significantly in quality even within the same batch. Additionally, the sensory experience of shopping in person where consumers can touch, smell, and compare different avocados plays a crucial role in their purchasing decisions. The offline market is also supported by the strong distribution networks that ensure fresh avocados are readily available in stores, making them easily accessible to consumers. Moreover, the cultural habits of shopping in physical stores remain strong in many regions, particularly in areas where online shopping infrastructure is still developing. The convenience of picking up groceries during routine shopping trips further reinforces the dominance of offline channels.
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Avocado Market Regional Insights
North America is leading the global avocado market primarily due to the increasing consumer demand driven by health-conscious dietary trends and the popularity of avocados as a versatile food ingredient. The surge in avocado consumption in North America can be attributed to several interrelated factors. The growing awareness of the health benefits associated with avocados has significantly influenced consumer preferences. Avocados are rich in healthy fats, particularly monounsaturated fats, which are known to support heart health, and they are packed with essential nutrients such as vitamins K, E, and C, as well as fiber. This nutritional profile aligns well with the rising trend of plant-based and low-carbohydrate diets, such as keto and paleo, which have gained traction among health-conscious consumers. Moreover, the culinary versatility of avocados has contributed to their popularity. They are not only used in traditional dishes like guacamole but also feature prominently in salads, smoothies, and as toppings for various meals, appealing to a broad spectrum of culinary preferences. The rise of social media and food blogs has further amplified this trend, as visually appealing avocado dishes have become popularized online, encouraging consumers to incorporate avocados into their diets. The North American avocado market benefits from a well-established supply chain and distribution network, which facilitates the availability of fresh avocados year-round. Mexico, being the largest producer of avocados globally, plays a crucial role in supplying the North American market, ensuring that consumers have access to high-quality avocados. The proximity of Mexico to the U.S. allows for efficient transportation and reduced shipping times, enhancing the freshness of the product upon arrival. The economic factors also play a significant role; as disposable incomes rise in North America, consumers are more willing to spend on premium food products, including avocados. The increasing purchasing power, combined with a cultural shift towards healthier eating habits, positions North America as a dominant player in the global avocado market, with expectations for continued growth in consumption and market share in the coming years.
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Key Development
• April 2024: The California Avocado Commission launched a new consumer advertising campaign to promote local and sustainable stories surrounding California avocados. This campaign highlighted the people and places integral to producing the fruit, emphasizing locally grown and sustainably farmed avocados. • October 2023: Eurosemillas SA, a company based in Spain, launched a new avocado variety called Luna in collaboration with the University of California, Riverside. This new avocado variety offers consumers great flavor, a rind that turns black when ripe, and high postharvest quality. • August 2023: Westfalia Fruit, a global avocado supplier, launched India's first dedicated avocado ripening facility. The launch of the ripening facility aims to support the growing demand for avocados in India and ensure a consistent supply of high-quality fruit to consumers.
Companies Mentioned
- FieldFresh Foods Private Limited
- Hormel food
- Fresca Group Ltd
- Beva Fruits International
- Austchilli Group
- Costa Group Holdings Limited
- Zespri International Limited
- Avocado Jaguacy
- Exportadora Subsole S.A.
- Halls Fresh Produce
Table of Contents
- 1. Executive Summary
- 2. Market Dynamics
- 2.1. Market Drivers & Opportunities
- 2.2. Market Restraints & Challenges
- 2.3. Market Trends
- 2.3.1. XXXX
- 2.3.2. XXXX
- 2.3.3. XXXX
- 2.3.4. XXXX
- 2.3.5. XXXX
- 2.4. Covid-19 Effect
- 2.5. Supply chain Analysis
- 2.6. Policy & Regulatory Framework
- 2.7. Industry Experts Views
- 3. Research Methodology
- 3.1. Secondary Research
- 3.2. Primary Data Collection
- 3.3. Market Formation & Validation
- 3.4. Report Writing, Quality Check & Delivery
- 4. Market Structure
- 4.1. Market Considerate
- 4.2. Assumptions
- 4.3. Limitations
- 4.4. Abbreviations
- 4.5. Sources
- 4.6. Definitions
- 5. Economic /Demographic Snapshot
- 6. Global Avocado Market Outlook
- 6.1. Market Size By Value
- 6.2. Market Share By Region
- 6.3. Market Size and Forecast, By Geography
- 6.4. Market Size and Forecast, By Type
- 6.5. Market Size and Forecast, By End User
- 6.6. Market Size and Forecast, By Form
- 6.7. Market Size and Forecast, By Distribution
- 7. North America Avocado Market Outlook
- 7.1. Market Size By Value
- 7.2. Market Share By Country
- 7.3. Market Size and Forecast, By Type
- 7.4. Market Size and Forecast, By End User
- 7.5. Market Size and Forecast, By Form
- 7.6. Market Size and Forecast, By Distribution
- 8. Europe Avocado Market Outlook
- 8.1. Market Size By Value
- 8.2. Market Share By Country
- 8.3. Market Size and Forecast, By Type
- 8.4. Market Size and Forecast, By End User
- 8.5. Market Size and Forecast, By Form
- 8.6. Market Size and Forecast, By Distribution
- 9. Asia-Pacific Avocado Market Outlook
- 9.1. Market Size By Value
- 9.2. Market Share By Country
- 9.3. Market Size and Forecast, By Type
- 9.4. Market Size and Forecast, By End User
- 9.5. Market Size and Forecast, By Form
- 9.6. Market Size and Forecast, By Distribution
- 10. South America Avocado Market Outlook
- 10.1. Market Size By Value
- 10.2. Market Share By Country
- 10.3. Market Size and Forecast, By Type
- 10.4. Market Size and Forecast, By End User
- 10.5. Market Size and Forecast, By Form
- 10.6. Market Size and Forecast, By Distribution
- 11. Middle East & Africa Avocado Market Outlook
- 11.1. Market Size By Value
- 11.2. Market Share By Country
- 11.3. Market Size and Forecast, By Type
- 11.4. Market Size and Forecast, By End User
- 11.5. Market Size and Forecast, By Form
- 11.6. Market Size and Forecast, By Distribution
- 12. Competitive Landscape
- 12.1. Competitive Dashboard
- 12.2. Business Strategies Adopted by Key Players
- 12.3. Key Players Market Share Insights and Analysis, 2022
- 12.4. Key Players Market Positioning Matrix
- 12.5. Porter's Five Forces
- 12.6. Company Profile
- 12.6.1. McDaniel Fruit Co.
- 12.6.1.1. Company Snapshot
- 12.6.1.2. Company Overview
- 12.6.1.3. Financial Highlights
- 12.6.1.4. Geographic Insights
- 12.6.1.5. Business Segment & Performance
- 12.6.1.6. Product Portfolio
- 12.6.1.7. Key Executives
- 12.6.1.8. Strategic Moves & Developments
- 12.6.2. Calavo Growers, Inc.
- 12.6.3. Henry Avocado Corporation
- 12.6.4. Hormel Foods Corporation
- 12.6.5. Fresh Del Monte Produce Incorporated
- 12.6.6. Salud Foodgroup Europe B.V.
- 12.6.7. Westfalia Fruit Pty Ltd.
- 12.6.8. Greenyard
- 12.6.9. Fresca Group Ltd
- 12.6.10. Beva Fruits International
- 13. Strategic Recommendations
- 14. Annexure
- 14.1. FAQ`s
- 14.2. Notes
- 14.3. Related Reports
- 15. Disclaimer
Table 2: Influencing Factors for Avocado Market, 2023
Table 3: Top 10 Counties Economic Snapshot 2022
Table 4: Economic Snapshot of Other Prominent Countries 2022
Table 5: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 6: Global Avocado Market Size and Forecast, By Geography (2018 to 2029F) (In USD Billion)
Table 7: Global Avocado Market Size and Forecast, By Type (2018 to 2029F) (In USD Billion)
Table 8: Global Avocado Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 9: Global Avocado Market Size and Forecast, By Form (2018 to 2029F) (In USD Billion)
Table 10: Global Avocado Market Size and Forecast, By Distribution (2018 to 2029F) (In USD Billion)
Table 11: North America Avocado Market Size and Forecast, By Type (2018 to 2029F) (In USD Billion)
Table 12: North America Avocado Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 13: North America Avocado Market Size and Forecast, By Form (2018 to 2029F) (In USD Billion)
Table 14: North America Avocado Market Size and Forecast, By Distribution (2018 to 2029F) (In USD Billion)
Table 15: Europe Avocado Market Size and Forecast, By Type (2018 to 2029F) (In USD Billion)
Table 16: Europe Avocado Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 17: Europe Avocado Market Size and Forecast, By Form (2018 to 2029F) (In USD Billion)
Table 18: Europe Avocado Market Size and Forecast, By Distribution (2018 to 2029F) (In USD Billion)
Table 19: Asia-Pacific Avocado Market Size and Forecast, By Type (2018 to 2029F) (In USD Billion)
Table 20: Asia-Pacific Avocado Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 21: Asia-Pacific Avocado Market Size and Forecast, By Form (2018 to 2029F) (In USD Billion)
Table 22: Asia-Pacific Avocado Market Size and Forecast, By Distribution (2018 to 2029F) (In USD Billion)
Table 23: South America Avocado Market Size and Forecast, By Type (2018 to 2029F) (In USD Billion)
Table 24: South America Avocado Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 25: South America Avocado Market Size and Forecast, By Form (2018 to 2029F) (In USD Billion)
Table 26: South America Avocado Market Size and Forecast, By Distribution (2018 to 2029F) (In USD Billion)
Table 27: Middle East & Africa Avocado Market Size and Forecast, By Type (2018 to 2029F) (In USD Billion)
Table 28: Middle East & Africa Avocado Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 29: Middle East & Africa Avocado Market Size and Forecast, By Form (2018 to 2029F) (In USD Billion)
Table 30: Middle East & Africa Avocado Market Size and Forecast, By Distribution (2018 to 2029F) (In USD Billion)
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Avocado Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global Avocado Market Share By Region (2023)
Figure 6: North America Avocado Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: North America Avocado Market Share By Country (2023)
Figure 8: Europe Avocado Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: Europe Avocado Market Share By Country (2023)
Figure 10: Asia-Pacific Avocado Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Asia-Pacific Avocado Market Share By Country (2023)
Figure 12: South America Avocado Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 13: South America Avocado Market Share By Country (2023)
Figure 14: Middle East & Africa Avocado Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 15: Middle East & Africa Avocado Market Share By Country (2023)
Figure 16: Competitive Dashboard of top 5 players, 2023
Figure 17: Market Share insights of key players, 2023
Figure 18: Porter's Five Forces of Global Avocado Market
Avocado Market Research FAQs
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