The new report by Expert Market Research titled, ‘Global Avocado Processing Market Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global avocado processing market, assessing the market based on its segments like type, end use, distribution channel, and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 2.2 billion
- Forecast CAGR (2023-2028): 7.30%
- Forecast Market Size (2028): USD 3.35 billion
The market for avocado processing has seen substantial growth due to factors such as inflating disposable income and enhancing living standards, especially in the emerging economies Also, increased knowledge across different industries offers an enormous market opportunity for key players in the avocado processing market. Avocado processed goods are in high demand in the food and beverage sector, as well as in the cosmetics and wellness industry, as people become more conscious of the benefits of avocado. Because of the presence of oleic acid, these advantages include lowering cholesterol and improving heart problems. Avocado also functions as an antioxidant, promoting skin health, wound healing, and the neutralisation of free radicals, all of which contribute to the avocado processing industry’s development.
The industry has grown as people’s eating habits have broadened to include fresh and exotic foods. The advent of recipes that call for the use of the product has boosted the industry’s growth. The increasing acceptance of western food habits and different cuisines by the growing middle-class population is also helping the industry.
Industry Definition and Major Segments
Avocado is a fruit that is used in a variety of ways, including confectionery (cake baking), fine soup mixes and appetisers, and cosmetics such as oils, soaps, skin lotions, shampoos, and other similar items. Avocado oils, guacamole, avocado sauce, frozen products, and other products can all be made from the fruit.
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Based on the type, the industry is divided into:
- Frozen Avocado
- Avocado Oil
- Avocado Sauce
Based on the end use, the industry is divided into:
- Food and Beverages
Based on the distribution channel, the industry is divided into:
- Supermarkets and Hypermarkets
- Convenience Stores
The regional markets for avocado processing include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Geographically, North America is the world’s largest avocado processing market. This is due to a rise in demand for processed avocado products in the area, such as guacamole, frozen avocado, avocado oil, and avocado sauce. The product’s popularity is growing due to many factors, including its high oleic acid content, which is a very healthy fat, and its ability to improve the efficiency of essential nutrient absorption, lower cholesterol levels, and improve heart health.
Key Market Players
The major players in the market are Calavo Growers, Olivado Group, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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