What is the global market size of the Avocado Market?

Global Avocado Market size was valued at USD 15.20 billion in 2021 and is poised to grow from USD 16.69 billion in 2022 to USD 32.11 billion by 2030, at a CAGR of 9.80% during the forecast period (2023-2030).

Avocado Market Size, Share, Growth Analysis, By Form(Fresh and Processed), By Distribution Channels(B2B and B2C), By Region - Industry Forecast 2024-2031

Report ID: SQMIG30H2103 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 59 | Figures: 77

Avocado Market Insights

Global Avocado Market size was valued at USD 16.69 billion in 2022 and is poised to grow from USD 18.33 billion in 2023 to USD 38.71 billion by 2031, growing at a CAGR of 9.80% during the forecast period (2024-2031).

Avocado consumption is rising worldwide as a result of the fruits' favourable effects on digestion, vision, and heart health. Production has increased as a result of rising demand on a global scale. Producing 8.05 million metric tonnes of avocados, up nearly 1 million tonnes, according to FAOSTAT. With a total production area of over 224,422 acres and over 2.3 million tonnes, Mexico is the world's leading producer of avocados. The Dominican Republic, Colombia, Peru, Indonesia, and other tropical nations are among the top producers of avocados. According to a Tetra Pak poll, customers prefer avocado-based snacks that are nutritious (51%), healthy (56%), high in protein (40.8%), and have a high calcium content (41.2%). The global market is anticipated to grow in the next few years due to the rising trend of snacking.

US Avocado Market is poised to grow at a sustainable CAGR for the next forecast period.

Avocado Market Report Snapshots

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The market is characterized by the existence of a number of well-established businesses and a select number of new players. The main strategic objectives in the sector are the launch of new products, partnerships, and acquisitions. 'Mission Produce Inc. (USA)', 'Del Rey Avocado Co., Inc. (USA)', 'Calavo Growers, Inc. (USA)', 'Westfalia Fruit (South Africa)', 'The Horton Fruit Company (USA)', 'Fresh Del Monte Produce Inc. (USA)', 'Henry Avocado Corporation (USA)', 'Salud Foodgroup Europe B.V. (Netherlands)', 'McDaniel Fruit Co. (USA)', 'Brooks Tropicals Holding, Inc. (USA)', 'Greenyard NV (Belgium)', 'Olivado EPZ Limited (Kenya)', 'Greenrope (South Africa)', 'Superior Foods Companies (USA)', 'Dole Food Company, Inc. (USA)', 'Mt. Kenya Avocado Farms (Kenya)', 'Eco Farms (USA)', 'Emerald Produce Limited (Kenya)', 'Shanley Farms (USA)', 'The Avocado Company (USA)', 'Lapis Lazuli (Chile)', 'Costa Group (Australia)'

Avocados are rich in nutrients such as vitamins, minerals, and healthy fats. They are known to have various health benefits, including reducing cholesterol levels, improving digestion, and helping to maintain a healthy weight. As a result, the increasing awareness and demand for healthy foods have been driving the growth of the avocado market.

As consumers become more health-conscious and environmentally aware, there is growing demand for organic and sustainably grown avocados. Organic avocados are grown without the use of synthetic pesticides and fertilizers, which makes them more appealing to consumers who are concerned about the potential health and environmental risks associated with conventional farming practices.

The largest portion of income, more than 45.0% of the total, came from North America. The increasing spending power of consumers in this area is another factor fueling the industry's growth. Due to the region's availability of alluring opportunities for the consumer products industry, it is projected that the market would soon display profitable expansion. The sector is growing as a result of rising import demand as well as per-person avocado consumption. The top two product importers are expected to remain the United States of America and Europe.

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Avocado Market Size, Share, Growth Analysis, By Form(Fresh and Processed), By Distribution Channels(B2B and B2C), By Region - Industry Forecast 2024-2031

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