Avocado

Avocado

Global Avocado Market to Reach US$23.0 Billion by 2030

The global market for Avocado estimated at US$16.7 Billion in the year 2023, is expected to reach US$23.0 Billion by 2030, growing at a CAGR of 4.7% over the analysis period 2023-2030. Organic Avocado, one of the segments analyzed in the report, is expected to record a 5.5% CAGR and reach US$7.1 Billion by the end of the analysis period. Growth in the Conventional Avocado segment is estimated at 4.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$4.4 Billion While China is Forecast to Grow at 7.3% CAGR

The Avocado market in the U.S. is estimated at US$4.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.1 Billion by the year 2030 trailing a CAGR of 7.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.4% and 4.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.8% CAGR.

Global Avocado Market - Key Trends & Drivers Summarized

Why Is Avocado Demand Skyrocketing Worldwide?

The global avocado market has seen a significant surge in demand over the past decade, largely driven by the fruit`s rise in popularity as a health food staple. Avocados are recognized for their rich nutritional content, including healthy monounsaturated fats, fiber, and various essential vitamins and minerals. As consumer preferences shift towards plant-based, nutrient-dense foods, avocados have become a favorite for health-conscious individuals and culinary enthusiasts alike. The expansion of the "superfood" category and the increasing global awareness of healthy eating trends have greatly contributed to the growing consumption of avocados across both developed and emerging markets.

How Are Production and Supply Trends Impacting the Avocado Market?

Avocado production has expanded significantly, with countries like Mexico, Peru, and Chile leading the global supply. However, despite increased production, the market faces challenges related to sustainability, such as water usage and land availability, as avocado cultivation requires significant natural resources. Technological advancements in agricultural practices, such as irrigation efficiency and pest control, are helping farmers enhance productivity while addressing environmental concerns. Furthermore, the rise of organic farming practices and fair trade certifications has catered to growing consumer demands for sustainably and ethically sourced avocados, which in turn boosts market appeal in environmentally-conscious segments.

How Are Consumer Trends Driving Changes in the Avocado Market?

Consumer preferences for healthier diets and plant-based lifestyles are major drivers of the avocado market. Avocados are widely used in various cuisines, particularly in vegan and vegetarian diets, due to their creamy texture and versatility in dishes ranging from salads to smoothies. The fruit’s association with popular diets such as keto, paleo, and low-carb has also propelled its demand among health enthusiasts. Additionally, the influence of social media and food influencers has played a pivotal role in popularizing avocados, with aesthetically pleasing dishes like avocado toast becoming a cultural phenomenon. The growing focus on nutritional value and the role of healthy fats in cardiovascular health have also contributed to the surge in avocado consumption.

The Growth in the Avocado Market Is Driven by Several Factors.

The growth in the avocado market is driven by several factors, including the increasing consumer focus on healthy eating habits and the growing popularity of plant-based diets. The nutritional benefits of avocados, particularly their high content of healthy fats and fiber, have made them a staple in many health-oriented diets. Technological advancements in agricultural practices, such as improved irrigation techniques and sustainable farming methods, have enhanced production capacity while addressing environmental concerns. The influence of food trends promoted through social media, coupled with increased consumer awareness about the benefits of good fats, has further driven the demand for avocados globally. Additionally, the expansion of exports from major producing regions like Mexico, Peru, and Chile has made avocados more widely available across international markets.

Select Competitors (Total 69 Featured) -

• Brooks Tropicals, Inc.
• Calavo Growers, Inc.
• Costa Group Holdings Ltd.
• Del Rey Avocado Company, Inc.
• Fresh Del Monte Produce, Inc.
• Henry Avocado Corporation
• McDaniel Fruit Co.
• Olivado USA
• Salud Foodgroup Europe B.V.
• Superior Foods Companies
• The Horton Fruit Co., Inc.
• West Pak Avocado Inc.

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