Avocado Market Size, Share, Analysis, Trends, Growth Report, 2032

Avocado Industry Prospective:

The global avocado market size was evaluated at $16 billion in 2023 and is slated to hit $30 billion by the end of 2032 with a CAGR of nearly 7.5% between 2024 and 2032.

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Avocado Market: Overview

Avocado is a medium-sized green tree of the laurel family. It is found in the Americas and has oily fruits. Moreover, it is found in the south-central region of Mexico and Guatemala. The fruits of the avocado have pear-shaped fruits that have black or green skin. Reportedly, it is consumed in the raw form and specifically in the form of salads. Avocado fruits are highly fruits and contain key vitamins such as vitamin K, vitamin A, vitamin B, vitamin C, and vitamin E.

Key Insights

• As per the analysis shared by our research analyst, the global avocado market is projected to expand annually at the annual growth rate of around 7.5% over the forecast timespan (2024-2032)
• In terms of revenue, the global avocado market size was evaluated at nearly $16 billion in 2023 and is expected to reach $30 billion by 2032.
• The global avocado market is anticipated to grow rapidly over the forecast timeline owing to a growing focus on a healthy lifestyle along with a large number of buyers demanding healthy food.
• In terms of form, the fresh segment is slated to register the highest CAGR over the forecast period.
• Based on the distribution channel, the B2B segment is predicted to contribute majorly towards the global industry profits in the upcoming years.
• Region-wise, the Asia-Pacific avocado industry is projected to register the fastest CAGR during the projected timespan.

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Avocado Market: Growth Factors

High preference for a nutritive diet to favorably influence the growth of the global market

Growing focus on a healthy lifestyle along with a large number of buyers demanding healthy food is likely to impel the expansion of the global avocado market. Furthermore, growing awareness about the nutritive values of the fruit leading to its growing import can translate into huge growth of the market across the globe. Furthermore, the product comprises phytochemicals including anti-oxidants and beta-sitosterol, and is enriched with folate, vitamin E, fiber, magnesium, and potassium. All these beneficial features will augment the growth of the market globally in the coming decade. Surging demand for whole fruits will further add to the global market demand. A growing inclination towards food containing fewer carbohydrates will drive the market trends globally. These products are rich in minerals and healthy fats and hence are preferred by the millennial population.

Avocado Market: Restraints

Surging raw material costs can impede the growth of the industry across the globe

Outbreak of pandemics such as COVID-19 has resulted affected the profitability of the hospitality sector, thereby severely impacting the expansion of the avocado industry across the globe. Growing costs of the product along with a rise in export duties will further clamp down the expansion of the industry globally.

Avocado Market: Opportunities

Growing preference for reducing weight leading to product intake can open new avenues of growth for the global market

Rise in the intake of avocado fruits can help in losing weight for individuals who are obese. Moreover, they also comprise of gut bacteria which benefits the health of individuals. All these aforementioned factors will open new growth avenues for the global avocado market.

Avocado Market: Challenges

Inaccessibility of cultivable & fertile land for growing avocado trees can pose a big challenge for the global industry expansion

Strict laws regarding the sale of product and an increase in the excise duties can impede the expansion of the global avocado industry. Furthermore, the non-availability of arable land for cultivating avocado trees owing to rise in the urbanization leading to an increase in the use of land for the construction of residential buildings can impact the global industry revenue.

Avocado Market: Segmentation

The global avocado market is divided into form, distribution channel, and region.                                          

In terms of form, the avocado market across the globe is bifurcated into fresh and processed segments.  Additionally, the fresh segment, which gained approximately three-fifths of the global market revenue in 2023, is anticipated to register the fastest CAGR in the forecast timeline. The expansion of the segment in the next eight years can be subject to the growing consumption of fresh avocados by people along with its easy accessibility. Huge fiber contents present in fresh fruits help in improving the digestive ability of an individual

Based on the distribution channel, the global avocado industry is divided into B2B and B2C segments. Furthermore, the B2B segment, which gathered approximately half of the global industry revenue in 2023, is set to make major contributions towards the global industry profitability in the coming eight years. The growth of the segment in the assessment timeline can be credited to a rise in health awareness among the youth along with customers opting for a nutritive diet in salad and sandwich form.

Avocado Market: Report Scope

Avocado Market: Regional Insights

North America is expected to maintain its leadership status in the global market in the forecast period

North America, which accounted for about 74% of the global avocado market revenue in 2023, is expected to establish a key position in the global market in the upcoming years. In addition to this, the regional market expansion during the period from 2024 to 2032 can be credited to a rise in the intake of products in countries such as the U.S. The growing tilt towards consuming fresh avocadoes in the region will further spur the expansion of the market in North America. A rise in the disposable income of the people in developed countries such as Canada and the U.S. will proliferate the growth of the market size in the region. Presence of key vendors in the region will contribute notably towards the regional market share in the foreseeable future.

The Asia-Pacific avocado industry is slated to register the highest rate of growth in the coming few years. The rapid progression of the industry in the sub-continent can be due to the surging intake of Western cuisine in countries such as Japan and China. Furthermore, the growing product popularity of avocados among the middle-income groups is likely to boost regional industry trends. Growing demand for fresh fruits will further drive the expansion of the industry in the APAC zone.

Key Developments

• In October 2023, Halls introduced a semi-prepared product referred to as The Naked Avocado with a view of reducing waste along with offering ripe and ready-to-eat fruits.

Avocado Market: Competitive Space

The global avocado market profiles key players such as

• Propal
• Mission Produce. Inc.
• Calavo Growers. Inc.
• Westfalia Fruit
• EMPACADORA AVEHASS S.A. DE C.V.
• Simpson Farms
• West Pak Avocado. Inc.
• Aguacates JBR
• Duclos Farms
• AustChilli Group.
• And Others

The global avocado market is segmented as follows:

By Form

• Fresh
• Processed

By Distribution Channel 

• B2B
• B2C

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa