Avocado Market By Form (Raw and Processed), By Nature (Organic and Conventional), By End-User (Food Industry, Retail, Cosmetic Industry), By Sales Channel (Direct Sales and Indirect Sales) & Region For 2024-2031
Report ID: 137171|No. of Pages: 202
Avocado Market By Form (Raw and Processed), By Nature (Organic and Conventional), By End-User (Food Industry, Retail, Cosmetic Industry), By Sales Channel (Direct Sales and Indirect Sales) & Region For 2024-2031
Avocado Market Valuation – 2024-2031
Avocados are becoming more popular due to their high content of beneficial fats, fiber, vitamins and minerals. This nutritional profile is consistent with the increased consumer interest in health and wellbeing, fueling demand among health-conscious individuals. The Avocado Market is estimated to reach a valuation of USD 25.13 Billion over the forecast subjugating around USD 13.05 Billion in 2023.
Improvements in living standards and a surge in disposable income, particularly in developing countries, are enabling the market to grow at a CAGR 8.54% from 2024 to 2031.
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Avocado Market: Definition/ Overview
The avocado, scientifically known as Persea americana, is a tropical fruit characterized by its creamy texture and rich flavor. This pear-shaped fruit typically features a thick, dark green to purple skin and contains a large, single seed surrounded by soft, pale green flesh. Avocados are renowned for their nutritional benefits, being high in healthy fats, particularly monounsaturated fat, as well as vitamins such as E, K, and various B vitamins. They are often consumed raw in salads, spreads, or as a key ingredient in dishes like guacamole.
The fruit is also referred to as “alligator pear” due to its leathery skin and shape. Originating from Central and South America, avocados have gained global popularity for their versatility in both savory and sweet culinary applications.
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What Role does Increasing Disposable Income Play in the Growth of the Avocado Market?
Increasing disposable income is playing a significant role in the growth of the Avocado Market. As disposable income levels rise, consumers are more likely to spend on premium and nutritious food options, including avocados, which are perceived as a healthy choice. According to government statistics, the global middle-class population is projected to reach
5.3 billion by 2030, leading to heightened demand for healthier food products. This shift in consumer spending habits is being reflected in the increased import rates of avocados, with imports reaching over 1.26 million metric tons in 2023, marking an 11.2% growth from the previous year.
Furthermore, as consumers seek out high-quality and health-oriented foods, avocados are increasingly being incorporated into diets, driven by their nutritional benefits and versatility in various culinary applications. Consequently, these economic factors are fostering a favorable environment for the expansion of the Avocado Market globally.
What Environmental Concerns are Associated With Increased Avocado Production?
Environmental concerns associated with increased avocado production are being increasingly recognized as significant issues. The high water consumption required for avocado cultivation is particularly alarming, with approximately 320 liters of water needed to produce a single avocado. This demand places considerable stress on local water supplies, especially in regions already facing water scarcity.
Additionally, the practice of monoculture farming, prevalent in avocado production, leads to soil degradation and nutrient depletion, requiring the increased use of fertilizers and pesticides that can contaminate surrounding ecosystems. Deforestation is also a critical concern, as large areas of forest are being cleared to establish avocado plantations, particularly in Mexico, where it is estimated that up to 25,000 hectares of forest are lost annually for this purpose. These activities not only threaten biodiversity but also contribute to greenhouse gas emissions, exacerbating climate change. Consequently, the environmental impact of avocado production raises important questions about sustainability and resource management in the face of rising global demand.
Category-Wise Acumens
How does Consumer Preference for Affordability Influence the Dominance of Conventional Avocados in the Market?
Consumer preference for affordability is significantly influencing the dominance of conventional avocados in the market. As prices for organic avocados are often higher due to more labor-intensive farming practices and lower yields, conventional avocados are perceived as a more budget-friendly option. Government statistics indicate that the average retail price of organic avocados was approximately $3.57 per pound in 2022, while conventional varieties are typically priced lower, making them more accessible to a broader range of consumers. This price sensitivity leads many shoppers, particularly those with limited disposable income, to favor conventional avocados over organic ones.
Additionally, the well-established distribution networks for conventional avocados ensure their widespread availability in supermarkets and grocery stores, further reinforcing consumer choices based on cost. As a result, the affordability of conventional avocados is a key factor driving their market dominance despite the growing interest in organic options.
What Specific Avocado-Based Dishes have Contributed to the Food Industry’s Dominance in the Avocado Market?
Specific avocado-based dishes that have contributed to the food industry’s dominance in the Avocado Market are being increasingly recognized for their popularity and versatility. Dishes such as guacamole, avocado toast, and salads featuring fresh avocados are widely consumed and have become staples in many restaurants and cafes. Government statistics indicate that the demand for guacamole alone has surged, with consumption increasing by over 600% since 1998 in the United States.
Additionally, the incorporation of avocados into smoothies and health bowls is being embraced by health-conscious consumers, further driving their use in the food industry. The rising trend of plant-based diets is also leading to the inclusion of avocados in various vegan and vegetarian recipes, enhancing their appeal. As a result, these avocado-based dishes are playing a crucial role in solidifying the food industry’s position as a dominant force in the Avocado Market.
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Country/Region-wise Acumens
What Factors Contribute to North America’s Significant Share of the Avocado Market?
The rising awareness of health benefits associated with avocados is being recognized as a primary driver, with fresh avocados being favored for their rich content of healthy fats, vitamins, and minerals. Government statistics indicate that per capita consumption in the United States reached 8.0 pounds in 2019, reflecting a strong preference for nutritious foods. Additionally, the favorable climate conditions in regions like California and Florida support domestic production, allowing for consistent supply throughout the year. The robust supply chain infrastructure is facilitating the importation of avocados from Mexico, which supplies approximately 80% of U.S. avocado imports.
Furthermore, the growing food service industry is prominently featuring avocados in menus, enhancing their appeal as a trendy superfood. As disposable incomes rise, consumers are increasingly willing to invest in high-quality food products, further driving demand. These combined factors are solidifying North America’s position as a dominant player in the global Avocado Market, ensuring sustained growth and consumption trends in the coming years.
What Role does the Growing Retail Industry Play in Driving Avocado Consumption in the Asia-Pacific Region?
The growing retail industry is playing a crucial role in driving avocado consumption in the Asia-Pacific region. Increased availability of avocados is being facilitated by the expansion of supermarkets, hypermarkets, and online retail platforms, which are making fresh avocados more accessible to consumers. Government statistics indicate that the retail sector now accounts for the largest share of avocado sales in the region, reflecting a shift towards health-conscious eating habits among the population. As consumer awareness of the nutritional benefits of avocados rises, demand is being significantly boosted.
Furthermore, innovative marketing strategies and product placements within retail outlets are helping to educate consumers about avocado-based recipes and their versatility in various cuisines. This trend is supported by the culinary industry’s growing interest in incorporating avocados into traditional dishes, which further enhances their appeal. As a result, the synergy between a thriving retail sector and increasing consumer interest in healthy food options is driving substantial growth in avocado consumption across Asia-Pacific, with projections indicating a compound annual growth rate (CAGR) of 8.54% from 2024 to 2031.
Competitive Landscape
The Avocado Market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions and political support. The organizations focus on innovating their product line to serve the vast population in diverse regions.
Some of the prominent players operating in the Avocado Market include:
McDaniel Fruit, Henry Avocado Corporation, Del Rey Avocado , Inc., The Horton Fruit Company, Fresh Del Monte, Produce, Superior Foods Companies, Brooks Tropicals Holdings, Salud Food group Europe V., Costa Group Holdings, and West Pak Avocado.
Latest Developments
- In July 2023, McDaniel Fruit Co announced plans to import a consistent volume of avocados from Peru, anticipating around 200-220 million pounds to meet S. market needs despite a smaller overall Peruvian crop.
- In May 2023, Fresh Del Monte partnered with Inteligistics to implement advanced digital solutions for tracking and monitoring avocado quality throughout the supply chain. This technology allows for real-time data collection on temperature, humidity, and product quality, leading to improved management of cooling operations and reduced energy consumption by 15-30%.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2020-2031 |
| Growth Rate | CAGR of ~8.54% from 2024 to 2031 |
| Base Year for Valuation | 2023 |
| Historical Period | 2020-2022 |
| Forecast Period | 2024-2031 |
| Quantitative Units | Value in USD Billion |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Players | McDaniel Fruit, Henry Avocado Corporation, Del Rey Avocado , Inc., The Horton Fruit Company, Fresh Del Monte, Produce, Superior Foods Companies, Brooks Tropicals Holdings, Salud Food group Europe V., Costa Group Holdings, and West Pak Avocado. |
| Customization | Report customization along with purchase available upon request |
Avocado Market, By Category
Form:
- Raw
- Processed
Nature:
- Organic
- Conventional
End User:
- Food Industry
- Retail
- Cosmetic Industry
Sales Channel:
- Direct Sales
- Indirect Sales
- Modern Trade
- Convenience Store
- Specialty Store
- E-Retailers
Region:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Research Methodology of Verified Market Research:
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our Sales Team at Verified Market Research.
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
• In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met.
Frequently Asked Questions
1 INTRODUCTION OF GLOBAL AVOCADO MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL AVOCADO MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL AVOCADO MARKET, BY FORM
5.1 Overview
5.2 Raw
5.3 Processed
6 GLOBAL AVOCADO MARKET, BY NATURE
6.1 Overview
6.2 Organic
6.3 Conventional
7 GLOBAL AVOCADO MARKET, BY END-USER
7.1 Overview
7.2 Food Industry
7.3 Retail
7.4 Cosmetic Industry
7.5 Other Uses
8 GLOBAL AVOCADO MARKET, BY SALES CHANNEL
8.1 Overview
8.2 Direct Sales
8.3 Indirect Sales
8.3.1 Modern Trade
8.3.2 Convenience Store
8.3.3 Specialty Store
8.3.4 E-Retailers
8.3.5 Other Retail Formats
9 GLOBAL AVOCADO MARKET, BY GEOGRAPHY
9.1 Overview
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 U.K.
9.3.3 France
9.3.4 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 Japan
9.4.3 India
9.4.4 Rest of Asia Pacific
9.5 Rest of the World
9.5.1 Latin America
9.5.2 Middle East and Africa
10 GLOBAL AVOCADO MARKET COMPETITIVE LANDSCAPE
10.1 Overview
10.2 Company Market Ranking
10.3 Key Development Strategies
11 COMPANY PROFILES
11.1 Salud Foodgroup Europe B.V.
11.1.1 Overview
11.1.2 Financial Performance
11.1.3 Product Outlook
11.1.4 Key Developments
11.2 Brooks TropicalS Holdings, Inc.
11.2.1 Overview
11.2.2 Financial Performance
11.2.3 Product Outlook
11.2.4 Key Developments
11.3 Costa Group Holdings Ltd
11.3.1 Overview
11.3.2 Financial Performance
11.3.3 Product Outlook
11.3.4 Key Developments
11.4 Fresh Del Monte Produce Inc
11.4.1 Overview
11.4.2 Financial Performance
11.4.3 Product Outlook
11.4.4 Key Developments
11.5 Superior Foods Companies
11.5.1 Overview
11.5.2 Financial Performance
11.5.3 Product Outlook
11.5.4 Key Developments
11.6 West Pak Avocado, Inc
11.6.1 Overview
11.6.2 Financial Performance
11.6.3 Product Outlook
11.6.4 Key Developments
11.7 The Horton Fruit Company
11.7.1 Overview
11.7.2 Financial Performance
11.7.3 Product Outlook
11.7.4 Key Developments
11.8 McDaniel Fruit Co
11.8.1 Overview
11.8.2 Financial Performance
11.8.3 Product Outlook
11.8.4 Key Developments
11.9 Henry Avocado Corporation
11.9.1 Overview
11.9.2 Financial Performance
11.9.3 Product Outlook
11.9.4 Key Developments
11.10 Del Rey Avocado Co. Inc
11.10.1 Overview
11.10.2 Financial Performance
11.10.3 Product Outlook
11.10.4 Key Developments
12 Appendix
12.1 Related Research
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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| Supplier side |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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