Avocado Market Dynamics and Analysis by 2031
The avocado market is expected to register a CAGR of 5% during 2023–2031. Increasing consumer awareness of its health benefits and the rising popularity of cuisines that feature avocados, such as Mexican and Mediterranean dishes, is likely to remain a key trend in the market.
Avocado Market Analysis
- A glance at the market trend shows that the rising demand for avocados in the world market is growing daily. One of the reasons is the increasing number of people who care about their health, and avocado is a natural fruit with many benefits. Also, the popularity of Latin American and Mexican cuisine increases people's interest in avocados.
- The fruit is a major source of healthy fat, fiber, vitamins, and minerals at minimal caloric cost, and its new-found, entirely deserved reputation as a 'good food' fuelled immense demand among modern consumers. Avocados have now become a staple of much of the Western world and have gained a prime position in North America and Europe – sliced or diced on salads, grilled or smeared on sandwiches, and as the key ingredient in the condiment guacamole.
- Demand has soared, fostering new crops in traditional growing areas such as Mexico, Peru, and California and even creating viable new production areas in Colombia and Kenya. More and more food processors are jumping on the avocado train as avocado-based spreads, oils, and even ice cream have become popular products.
Avocado Market Overview
- The global avocado market in recent years has grown to a great extent, the main factors influencing the growth of the market are customer awareness regarding the health significance of the fruit and growing preference for avocados in cuisines of various parts of the world.
- Avocados have been taken into many kitchens, in many homes, and in regions such as North America and Europe, where they are regarded for the nutritional content they bring, such as healthy fats, vitamins, and minerals. As demand increased, avocado production spread, particularly in traditional avocado-growing countries such as Mexico, Peru, and California, but also new areas opened up and were exploited, such as Colombia and Kenya.
- Its growth has been further boosted by the ubiquity of products containing the fruit, such as guacamole, avocado oil, and a wide array of other foods that have been processed with avocados.
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Avocado Market: Strategic Insights
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Avocado Market: Strategic Insights
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Avocado Market Drivers and Opportunities
Rising Demand from Personal Care Industry Drives Avocados Market
- Healthy, clean, natural, sustainable, and exfoliating: the future of the avocado market category lies in the cosmetics and beauty-care industry.
- Avocado oil is produced from fruit pulp and is rich in vitamins (A, D, and E) and omega-3 fatty acids, thus its popularity in skin, hair, and cosmetic formulas: it's an excellent moisturizer and nourisher, finds application in anti-aging formulas or just a dry skin usage, and is recommended for usage on a hair.
- As consumers become more aware of ingredients, the desire for naturally derived, plant-derived options will increase. AVC-7 will likely be one of these ingredients. Also, the so-called 'clean beauty' trend, as highlighted in an article in Forbes this month, likely will continue to develop. That is, as users become concerned about the chemicals in their skincare products, they will begin to react to more synthetic chemical ingredients and seek out products with ingredients they know – where they likely will see an ingredient such as AVC-7 in their personal care products. An increasing number of manufacturers will add avocado-derived ingredients to a growing list of products beyond current hair offerings – namely, facial serums, body lotions, lip balms, and, potentially, even shampoos and conditioners.
Rising Demand for Natural Ingredients in Various Industries
- Demand for natural ingredients in the food, cosmetics and personal care and pharmaceutical sectors over the next decade will be one of the key growth drivers for the avocado market. With consumers growing health and environmental awareness, there is a new trend toward products using natural, plant-based ingredients in many countries throughout the world.
- It's also making appearances in new beverage goods (plant-based spreads), foods (smoothies), and even desserts, pushing the boundaries of what seemed to be avocado's use.
- Smart business people are investigating avocado-derived ingredients for potential nutraceutical, heart health, and weight management applications, again diversifying the avocado platform and expanding market growth while also helping to level out demand during irregular seasonal pressure in the fresh fruit market.
- Ultimately, continuous investigations with regard to the bioactive compounds derived from avocados are bound to elucidate important health and performance benefits along with novel applications and uses. In this regard, demand will escalate, followed by a tremendous surge in avocado crop investments and natural processing technologies to facilitate product innovations. We can only expect this trend to catapult over time with novel and possibly customized avocado food products that will cater to every niche consumer around the globe across every category.
Avocado Market Report Segmentation Analysis
Key segments that contributed to the derivation of the avocado market analysis are product type, category, and application.
- Based on product type, the market is segmented into whole, oil, puree, and others.
- On the basis of category, the market is divided into organic and conventional.
- On the basis of application, the market is segmented into food and beverages, pharmaceuticals and nutraceuticals, personal care, and others.
Avocado Market Share Analysis by Geography
- Avocado Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering avocado market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers Porter's analysis, which involves the study of major factors that influence the avocado market in these regions.
Avocado Market Report Scope
Avocado Market News and Recent Development
The avocado market is evaluated by gathering the qualitative and quantitative data post primary and secondary research, which include important corporate publication, association data, and database. The few developments in the avocado market are listed below:
- Unifrutti Group, a leading global producer and distributor of fresh fruit, announced the acquisition of 100% of Bomarea and the Peruvian operations of AvoAmerica (AvoAmerica Peru) from the US- based agribusiness investment firm Solum Partners and the US-based fresh fruit and vegetables company Alpine Fresh. (Source: Unifrutti Group, Press Release, March, 2024)
- Westfalia Fruit India is delighted to announce the launch of its first Avocado ripening facility in Mumbai, India. (Source: Westfalia Fruit India, Press Release, August, 2023)
Avocado Market Report Coverage and Deliverables
The " Avocado Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Avocado market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Avocado market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Avocado market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the avocado market
- Detailed company profiles
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
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Segment Covered
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Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
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Country Scope
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Frequently Asked Questions
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The leading players operating in the avocado market are Calavo Growers; Mission Produce; Del Rey Avocado Company; West Pak Avocado; Henry Avocado Corporation; The Giumarra Companies; Index Fresh; Westfalia Fruit; Camposol; Aguacates Seleccionados JBR; Fresh Del Monte Produce; Costa Group; Sigma Produce; Frutas Finas; and Agricola Cerro Prieto.
Growing demand for natural production from various end-use industries is anticipated to play a significant role in the global avocado market in the coming years.
The global avocado market is expected to grow at a CAGR of 5% during the forecast period 2023 - 2031.
The increasing demand from the personal care industry is one of the major factors driving the avocado market.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Avocado Market - By Category
1.3.2 Avocado Market - By Application
1.3.3 Avocado Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AVOCADO MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. AVOCADO MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. AVOCADO MARKET - GLOBAL MARKET ANALYSIS
6.1. AVOCADO - GLOBAL MARKET OVERVIEW
6.2. AVOCADO - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. AVOCADO MARKET - REVENUE AND FORECASTS TO 2028 - CATEGORY
7.1. OVERVIEW
7.2. CATEGORY MARKET FORECASTS AND ANALYSIS
7.3. ORGANIC
7.3.1. Overview
7.3.2. Organic Market Forecast and Analysis
7.4. CONVENTIONAL
7.4.1. Overview
7.4.2. Conventional Market Forecast and Analysis
8. AVOCADO MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. FOOD AND BEVERAGES
8.3.1. Overview
8.3.2. Food and Beverages Market Forecast and Analysis
8.4. NUTRACEUTICALS
8.4.1. Overview
8.4.2. Nutraceuticals Market Forecast and Analysis
8.5. PERSONAL CARE
8.5.1. Overview
8.5.2. Personal Care Market Forecast and Analysis
8.6. OTHER
8.6.1. Overview
8.6.2. Other Market Forecast and Analysis
9. AVOCADO MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Avocado Market Overview
9.1.2 North America Avocado Market Forecasts and Analysis
9.1.3 North America Avocado Market Forecasts and Analysis - By Category
9.1.4 North America Avocado Market Forecasts and Analysis - By Application
9.1.5 North America Avocado Market Forecasts and Analysis - By Countries
9.1.5.1 United States Avocado Market
9.1.5.1.1 United States Avocado Market by Category
9.1.5.1.2 United States Avocado Market by Application
9.1.5.2 Canada Avocado Market
9.1.5.2.1 Canada Avocado Market by Category
9.1.5.2.2 Canada Avocado Market by Application
9.1.5.3 Mexico Avocado Market
9.1.5.3.1 Mexico Avocado Market by Category
9.1.5.3.2 Mexico Avocado Market by Application
9.2. EUROPE
9.2.1 Europe Avocado Market Overview
9.2.2 Europe Avocado Market Forecasts and Analysis
9.2.3 Europe Avocado Market Forecasts and Analysis - By Category
9.2.4 Europe Avocado Market Forecasts and Analysis - By Application
9.2.5 Europe Avocado Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Avocado Market
9.2.5.1.1 Germany Avocado Market by Category
9.2.5.1.2 Germany Avocado Market by Application
9.2.5.2 France Avocado Market
9.2.5.2.1 France Avocado Market by Category
9.2.5.2.2 France Avocado Market by Application
9.2.5.3 Italy Avocado Market
9.2.5.3.1 Italy Avocado Market by Category
9.2.5.3.2 Italy Avocado Market by Application
9.2.5.4 United Kingdom Avocado Market
9.2.5.4.1 United Kingdom Avocado Market by Category
9.2.5.4.2 United Kingdom Avocado Market by Application
9.2.5.5 Russia Avocado Market
9.2.5.5.1 Russia Avocado Market by Category
9.2.5.5.2 Russia Avocado Market by Application
9.2.5.6 Rest of Europe Avocado Market
9.2.5.6.1 Rest of Europe Avocado Market by Category
9.2.5.6.2 Rest of Europe Avocado Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Avocado Market Overview
9.3.2 Asia-Pacific Avocado Market Forecasts and Analysis
9.3.3 Asia-Pacific Avocado Market Forecasts and Analysis - By Category
9.3.4 Asia-Pacific Avocado Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Avocado Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Avocado Market
9.3.5.1.1 Australia Avocado Market by Category
9.3.5.1.2 Australia Avocado Market by Application
9.3.5.2 China Avocado Market
9.3.5.2.1 China Avocado Market by Category
9.3.5.2.2 China Avocado Market by Application
9.3.5.3 India Avocado Market
9.3.5.3.1 India Avocado Market by Category
9.3.5.3.2 India Avocado Market by Application
9.3.5.4 Japan Avocado Market
9.3.5.4.1 Japan Avocado Market by Category
9.3.5.4.2 Japan Avocado Market by Application
9.3.5.5 South Korea Avocado Market
9.3.5.5.1 South Korea Avocado Market by Category
9.3.5.5.2 South Korea Avocado Market by Application
9.3.5.6 Rest of Asia-Pacific Avocado Market
9.3.5.6.1 Rest of Asia-Pacific Avocado Market by Category
9.3.5.6.2 Rest of Asia-Pacific Avocado Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Avocado Market Overview
9.4.2 Middle East and Africa Avocado Market Forecasts and Analysis
9.4.3 Middle East and Africa Avocado Market Forecasts and Analysis - By Category
9.4.4 Middle East and Africa Avocado Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Avocado Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Avocado Market
9.4.5.1.1 South Africa Avocado Market by Category
9.4.5.1.2 South Africa Avocado Market by Application
9.4.5.2 Saudi Arabia Avocado Market
9.4.5.2.1 Saudi Arabia Avocado Market by Category
9.4.5.2.2 Saudi Arabia Avocado Market by Application
9.4.5.3 U.A.E Avocado Market
9.4.5.3.1 U.A.E Avocado Market by Category
9.4.5.3.2 U.A.E Avocado Market by Application
9.4.5.4 Rest of Middle East and Africa Avocado Market
9.4.5.4.1 Rest of Middle East and Africa Avocado Market by Category
9.4.5.4.2 Rest of Middle East and Africa Avocado Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Avocado Market Overview
9.5.2 South and Central America Avocado Market Forecasts and Analysis
9.5.3 South and Central America Avocado Market Forecasts and Analysis - By Category
9.5.4 South and Central America Avocado Market Forecasts and Analysis - By Application
9.5.5 South and Central America Avocado Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Avocado Market
9.5.5.1.1 Brazil Avocado Market by Category
9.5.5.1.2 Brazil Avocado Market by Application
9.5.5.2 Argentina Avocado Market
9.5.5.2.1 Argentina Avocado Market by Category
9.5.5.2.2 Argentina Avocado Market by Application
9.5.5.3 Rest of South and Central America Avocado Market
9.5.5.3.1 Rest of South and Central America Avocado Market by Category
9.5.5.3.2 Rest of South and Central America Avocado Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. AVOCADO MARKET, KEY COMPANY PROFILES
11.1. CALAVO GROWERS, INC
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. DEL REY AVOCADO COMPANY, INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. FRESHKAMPO
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. FRUTAS MONTOSA
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. GALILLEE EXPORT LTD
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. MCDANIEL FRUIT CO.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. SALUD FOODGROUP EUROPE B.V.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SFI LLC
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. THE HORTON FRUIT COMPANY, INC
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. WEST PAK AVOCADO, INC.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. Calavo Growers, Inc
2. Del Rey Avocado Company, Inc.
3. FreshKampo
4. Frutas Montosa
5. Galillee Export LTD
6. MCDANIEL FRUIT CO.
7. Salud Foodgroup Europe B.V.
8. SFI LLC
9. The Horton Fruit Company, Inc
10. West Pak Avocado, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.