Transparency Market Research (TMR), in its recent outlook titled, “Avocado: Global Industry Analysis and Opportunity Assessment 2018-2026”, projects that in terms of value, the global revenue of avocado market will expand at a CAGR of 5.9% during the eight-year forecast period. In terms of revenue, the global avocado market is estimated at around US$ 13,600 Mn by the end of 2018 and is anticipated to reach US$ 21,561.8 Mn by 2026 end.
By nature, the global avocado market is segmented into organic and conventional. The conventional segment is expected to dominate the global avocado market in terms of both value volume owing to its low production cost and labour input. An organic segment to experience comparatively stronger growth rates owing to the rapid adoption of organic based food in developed regions. By form, the global avocado market is segmented into raw and processed. The raw segment is expected to dominate the global avocado market over the forecast period resulted from the larger fresh avocado demand in retail. The processed segment is further classified into oil, guacamole, puree and other sub-segments. Oil and guacamole are anticipated to account for major revenue shares in the processed avocado segment.
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The Transparency Market Research’s report covers recently observed trends driving each segment and offers analysis and insights regarding the potential of the avocado market in specific regions with region wise drivers, restraints, opportunity and trends. Recently, the millennial population is observed to be generating higher demand for fresh foods, ready-to-eat foods, and heat-n-eat fresh prepared foods. Another trend includes increasing consumption of fruits, which will reportedly fuel the growth of fruits and vegetables segment. According to research, growing consumer inclination towards maintaining a healthy lifestyle has led to the higher consumption of healthy food products and food ingredients. Off late, consumers have become more conscious about their food intake and diet. There has been a significant rise in the consumption of tree nuts, which include nuts, organic fruits, vegetables, and avocados over the past few years.
In terms of revenue generation, Latin America and North America currently account for a collective share of over 60% in the global avocado market value. Europe and Asia Pacific tend to witness almost similar growth in terms of volume. Whereas, MEA is expected to form a strong domestic market for its avocado production.
Detailed profiles of the key vendors in the global market for avocado are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the avocado space. Global avocado player includes McDaniel Fruit Co., Henry Avocado Corporation, Del Rey Avocado Co. Inc., The Horton Fruit Company, Fresh Del Monte Produce Inc., Superior Foods Companies, Brooks Tropicals Holding, Inc., Salud Foodgroup Europe B.V., Costa Group Holdings Limited, West Pak Avocado, Inc., Olivado USA, and Calavo Growers, Inc.