Global Avocado Market Size, Share and Growth Analysis Report - Forecast Trends and Outlook (2024-2032)

Global Avocado Market Growth

Avocados are oval and have a bright green colour. In addition to the creamy texture, avocados pack an excellent nutritional punch as they're full of heart-healthy monounsaturated fats that are proven beneficial to your cardiovascular system. In addition to that, avocados are loaded with essential nutrients such as vitamins C, E, K and B-6 and minerals like magnesium, potassium. It improves immune function, clears up the skin and cuts inflammation. These benefits of avocado are boosting the avocado market demand.

The main reason for the avocado demand growth in the United States and Europe would be their application both in modern and traditional cuisines. It serves as a key ingredient in an array of edibles many people enjoy ranging anywhere from guacamole to avocado toast and smoothies. Avocados are also one of the most intriguing foods out there due to not only their culinary flexibility but also their health benefits. Packed with heart-healthy monounsaturated fats, fibre, and essential nutrients such as vitamins C, E and potassium, avocados are linked to helping in managing weight, and promoting good heart health while potentially decreasing the risk for lifelong conditions like diabetes or hypertension. Their ability to fit into health-conscious diets, including plant-based, keto, and low-carb diets, has made them particularly popular among consumers focused on wellness and nutrition.

Global Avocado Market Analysis

The avocado industry growth is fuelled by the increasing demand for avocado-based cosmetic products. This trend is growing worldwide based on the nutritious combination of vitamins E, B, C, and D, potassium, and fibre in avocados, which provides effective nourishment and hydration to the skin, thereby helping create a higher appeal for avocado-based cosmetics. Avocado oil and extracts are used in moisturizers, serums, face masks, and lotions. They go well with dry, dehydrated, or ageing skin. Avocado-based shampoos, conditioners, and hair masks nourish the scalp and give the hair strength because of the presence of vitamins and fats contained in the fruit. There are applications of avocado oil in makeup products like foundations and lip balms. Also, an increasing trend toward healthy and nutritious foods, especially concerning specific diets like vegetarianism, veganism, and ketogenic diets, is expected to enhance the growth of the global market for avocados during the forecast period. Avocados are rich in monounsaturated fats, fibre, vitamins, and minerals, and hence, they are mostly consumed by health-conscious consumers.

The avocado market dynamics and trends are being influenced by advancements in transportation technologies, improved preservation methods for perishable goods, and the development of robust trade networks. Globalisation has increased consumer demand as access to previously unknown products becomes widely available and as seasonal perceptions change. New container systems have also been developed to improve the shelf-life of fresh produce including avocados during their export journey. More recently developed refrigerated containers became available on returned voyages to carry other types of cargo especially high-value goods such as pharmaceuticals. The introduction of controlled atmosphere technology into these advanced reefer containers greatly minimises fruit respiration activity and thus prolongs shelf life whereas well-managed cold chains ensure that environmental constraints are minimised throughout the journey from harvesting through post-harvesting processes up to its final stages with processing, transport, storage, and retail.

Avocado Industry Outlook

According to the Servicio de Información Agroalimentaria y Pesquera (SIAP), Mexico's avocado production has grown consistently and significantly between 2014 and 2023. In 2014, the country produced 1.52 million metric tons (MT) of avocados. In the space of almost ten years, that had climbed to 2.65 million MT by 2023, representing an overall increase of over 74%. Key milestones in this journey include an 8% jump in production in roughly a year (2015) to reach an output of 1.64 million MT, followed by a giant 15% boost in production from that new baseline in another year (2016) to achieve a total of nearly two million MT. For the first time, Mexico exceeded 2 million MT (2017), with an increase of about 7.4% YoY keeping up momentum, on its way to consistently exceeding this milestone over three years (2017–2019), growing total annual production by a quarter within five years, culminating at just under that final target for projected production in our window at about 2.30 million MT. Increasing avocado production is driving the avocado industry revenue by enhancing supply to meet rising global demand. This expansion enables countries, particularly Mexico, to boost exports to lucrative markets like the U.S. and Europe.

Avocados provide numerous health benefits, with high demand driven by their nutritional value, including healthy fats and antioxidants, which are key factors fuelling avocado market demand.

• Used in various sectors including food, pharmaceuticals, and personal care.
• Growing popularity in households and HoReCa sectors across regions.

Fresh avocados have a short shelf life and are vulnerable to transport damage, which can be a barrier to entry.

• Water-intensive cultivation and expensive labour in major growing regions.
• Avocado production fluctuates seasonally, leading to inconsistent supply and price volatility.

Increasing demand for processed avocado products like guacamole and oils can boost avocado industry growth.

• Expanding into new regions where avocados are becoming more popular due to health trends.
• Companies can drive growth through eco-friendly and ethical sourcing practices.

Adverse weather conditions and water shortages can negatively impact production.

• Increasing competition from other fruit or plant-based fat sources.
• Fluctuations in prices can impact affordability and consumer demand.

Key Players in the Global Avocado Market and Their Key Initiatives

Mission Produce, Inc.

• Expanded vertical integration into premium-growing regions like Peru, Guatemala, Colombia, and South Africa.
• Enhanced its distribution network, reaching emerging markets with ripe avocado programs, ensuring year-round supply.

Calavo Growers, Inc.

• Introduced a new ESG strategy aiming for a 50% reduction in its carbon footprint by 2030.
• Invested in sustainable agricultural practices, ensuring 100% of its growers are engaged in sustainability programs by 2030.

Simpson Farms Pty Ltd.

• Implementing paper-based packaging solutions to reduce plastic usage in their supply chain.
• Boosting avocado exports globally, particularly in response to rising international demand.

West Pak Avocado, Inc.

• Launched the "40 Years Forward" campaign to enhance sustainability.
• Opened a new distribution centre in New Jersey.

Global Avocado Industry Segmentation

“Global Avocado Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Form

• Fresh
• Processed

Market Breakup by Application

• Households
• HoReCa
• Pharmaceutical
• Others

Market Breakup by Distribution Channel

• Offline
• Online

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Avocado Market Share

Processed technology is driving the growth of the avocado industry by offering key advantages over fresh avocado distribution. The longer shelf life of processed products, such as avocado oil, frozen guacamole, and ready-to-eat avocado spreads, enables wider global reach, reducing the perishability concerns associated with fresh avocados. Value-added products, like avocado-based oils and snacks, open new revenue channels in sectors like cosmetics, health, and food, where they command premium prices due to their health benefits and versatility. Moreover, processing helps minimize waste, as imperfect avocados that may not meet the aesthetic standards for fresh sale can still be utilized effectively in processed forms, maximising yield, and profitability. This reduces financial loss for producers and contributes to more sustainable avocado farming practices, further results in driving the growth of the avocado market.

Leading Companies in the Avocado Market

The companies specialise in enhancing distribution networks, implementing paper-based packaging solutions, and sustainable agricultural practices.

• Mission Produce, Inc. 
• Calavo Growers, Inc. 
• Simpson Farms Pty Ltd. 
• West Pak Avocado, Inc. 
• Westfalia Fruit (Pty) Ltd. 
• EMPACADORA AVEHASS S.A. DE C.V 
• AustChilli Pty Ltd. 
• Del Rey Avocado Company, Inc. 
• Aguacates JBR 
• Duclos Farms

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