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Global Avocado Consumption Market segmentation by Product (Hass, Green Skin, Reed, Lula, Other), By Application (Food, Cosmetic, Medical, Others) By Distribution Channel (Direct Sales, Indirect Sales) By End-use (Food and Beverages Industry, Retail Industry, Cosmetics and Personal Care, Others) and by Regional Analysis (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast (2023 – 2028)

Published: March, 2023
ID: 13301
Pages: 175
Formats: report pdf report excel report power bi report ppt

Avocado Consumption Market Size, Growth (2023-2028)

The Global Avocado Consumption Market size was US$ 9.27 Billion in 2022 and is anticipated to succeed in the valuation of US$ 13.54 Billion in 2028 and is predicted to register a CAGR of 4.83% during 2023-2028.

Avocado Consumption Market

Avocado Consumption Market Scenario:

Avocado is a fruit originally cultivated in Mexico and Central America. The avocado tree, also known as Persian Americana, is now widely planted in tropical and Mediterranean climates. It is classified as a flowering plant of the Lauraceae family along with cinnamon, camphor, and laurel. The fruits are also called avocados. Trees are partially self-pollinated and growers often propagate by grafting to maintain fruit quality and quantity. Avocado Consumption Market Trend shows demand in the food industry and is also used in the cosmetics and pharmaceutical industries. Avocado is rich in nutrients such as magnesium, lutein, riboflavin, nicotinic acid, folic acid, pantothenic acid, potassium and omega-3 fatty acids, resulting in increased consumption.

Avocado is an excellent source of vitamins C, E, K and B6 and contains a natural plant sterol called beta-sitosterol. Beta-sitosterol not only helps improve and maintain a healthy heart, but also lowers cholesterol levels. It also contains antioxidants such as zeaxanthin and lutein, and contains folic acid, which helps prevent the accumulation of homocysteine, which helps to benefit the eyes and reduce the risk of depression.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 – 2028

Base Year

2022

Forecast Period

2023 - 2028

CAGR

4.83%

Segments Covered

By Product, Application, Distribution Channel, End-use and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Henry Avocado, West Pak Avocado, Mission Produce, Del Rey Avocado, McDaniel Fruit, Rincon Farms and Others.

Recent Developments Avocado Consumption Industry:

  • Calavo Growers, Inc. to Purchase Fresh Fruit - Calavo Growers, Inc. (Nasdaq-GS: CVGW), a global avocado industry leader and expanding provider of value-added fresh food, announced today that its Renaissance Food Group (RFG) subsidiary has signed a definitive agreement to purchase SFFI Company, Inc., trading as Simply Fresh Fruit (SFFI).
  • Whole Foods Market Honors Del Rey Avocado for Service and Partnership - Del Rey Avocado, Along With 31 Other Brands, Is Honored for Outstanding Quality, Environmental Stewardship, Organic Integrity, Innovation, Purpose, And Partnership.

Avocado Consumption Market Drivers:

Increasing preference for health-promoting foods in developed and developing regions is expected to form a major driver of the avocado market during the forecast period. The health benefits of avocado fruit are being staged as a key marketing strategy for promoting avocado fruit and a wide range of avocado-based products. As research progresses, Avocado Consumption Market Industry show higher growth rates for processed avocado products. With increasing consumer demand for fresh avocado, the retail sector is expected to occupy a large share of the global avocado market. Millennials are increasingly consuming fresh food and using warm, ready-to-eat meals. These products are recognized as quick versions of homemade meals, saving you cooking time and effort.

In addition, increased awareness of fruit consumption is another important factor driving demand for fruits and vegetables.  Mexican and Pan Latin flavours is becoming more popular and are part of the mainstream food culture. Nearly 73% of US consumers use Mexican food and ingredients, and sales of Hispanic food and beverages are expected to reach $ 10.7 billion in 2021. Avocado is one of the favourite ingredients of Mexican and Hispanic cuisine.

Avocado Consumption Market Restraints:

Manufacturers face problems because fruits are stored in farmer's warehouses and fields, but due to the serious effects of the pandemic, they cannot be shipped to markets or factories for further processing.

Owing to the lockdown implemented across various countries, national and international transportation, seriously impacting the supply chain of many industries around the world, thereby increasing the supply–demand gap.

Avocado Consumption Market Segmentation Analysis:

By Product:

  • Hass
  • Green Skin
  • Reed
  • Lula
  • Other

Based on the product, the Avocado Consumption Market share is divided into lotus, greenskin, reed, ruler and so on. The Has segment is expected to boost market growth. Hasuavocado is currently in large quantities due to the low prices produced by different countries. Demand is at fairly normal levels. As a result, the price of hass is very low, almost the same as the price of greenskin.

By Application:

  • Food
  • Cosmetic
  • Medical
  • Others

Based on Application, the market is bifurcated into Food, Cosmetic, Medical, And Others. Among all the segments of Avocado Consumption Market industry shows that Food is expected to be the fastest-growing market over the forecast period.

By Distribution Channel:

  • Direct Sales
  • Indirect Sales

By distribution channel, the avocado market directly and indirectly. Due to the high retail demand for avocados, the indirect segment will have the largest volume share. Indirect segments are further divided into physical retailers and retailers. Branch-based retail includes hypermarkets / supermarkets, convenience stores, independent small grocery stores, and other branch-based retail businesses.

By End-use:

  • Food and Beverages Industry
  • Retail Industry
  • Cosmetics and Personal Care
  • Others

By end-use, the global avocado market into food and beverage, retail, cosmetics and personal care, and other end-use industries. Sauces, the global avocado market is divided into rabbits, reeds, fuerte and other avocado sauces.

Geographical Segmentation Analysis:

  • North America - the United States and Canada
  • Europe - United Kingdom, Spain, Germany, Italy, and France
  • The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
  • Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
  • The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Avocado Consumption Market Regional Analysis:

Avocado is mainly produced in California, Florida and Hawaii in the United States. California accounts for 95% of US production. California Hass Avocado weighs about 170 grams on average. Durable avocado varieties are grown in the Gainesville area of Florida. Avocado trees cannot tolerate sub-zero temperatures, so they can only be grown in tropical or subtropical climates. Avocado production in the United States is highly sensitive to weather conditions and fluctuates from year to year. There are many varieties of avocado, and hass is the most popular in the United States. Few avocado varieties are cultivated in winter. Avocado consumption is expected to grow steadily as the US population grows. Monthly shipments of avocado to the United States increased 33% in 2021 to set a new record of around USD 404 million.

Key Players in the Market:

Major Key Players in the Global Avocado Consumption Market are

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FAQ's

What is the predicted market size and growth rate of the avocado consumption market?

Avocado Consumption Market is valued at USD 9.27 billion in 2022 and is projected to reach USD 13.54 billion by 2028, growing at a CAGR of 4.83% from 2023 to 2028.

What are the main drivers behind the growth of the Avocado Consumption Market?

Increasing consumer awareness of health concerns, coupled with increasing attention to healthy lifestyles, is expected to drive market growth over the forecast period.

Who are the top players operating in the avocado consumption market?

The main players are Calvo, Henry Avocado, West Pak Avocado, Mission Produce, Del Rey Avocado, McDaniel Fruit, Rincon Farms.

What are the segments covered by the Avocado Consumer Market Report?

The Global Avocado Consumer Market is Segmented on the basis of Product, Application, Distribution channel, End user And Geography.

Which is the fastest growing region of the Avocado Market?

The Asia-Pacific region will grow the highest CAGR from 2023 to 2028.

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