Avocado Market Size
Market Outlook:
Base Year Value (2023)
USD 15.99 Billion
CAGR (2024-2032)
7.4%
Forecast Year Value (2032)
USD 30.4 Billion
Historical Data Period
2019-2023
Largest Region
North America
Forecast Period
2024-2032
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Market Dynamics:
Growth Drivers & Opportunity:Rising consumer awareness about the health benefits of avocados is driving the growth of the market. Avocados are known for their high nutrient content, including healthy fats and vitamins, which has led to increased demand among health-conscious consumers.
The growing popularity of avocado-based products, such as avocado oil and avocado spreads, is also fueling market growth. These products are versatile and can be used in a variety of dishes, which has expanded the consumer base for avocados.
The expanding use of avocados in the foodservice industry is another major growth driver for the market. Avocado-based menu items are increasingly featured in restaurants, cafes, and fast-food chains, driving up demand for the fruit.
Industry
Report Scope
| Report Coverage | Details |
|---|---|
| Segments Covered | Form, Distribution Channel |
| Regions Covered | • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA) |
| Company Profiled | Calavo Growers,, West Pak Avocado,, Westfalia Fruit, Mission Produce,, EMPACADORA AVEHASS S.A. DE C.V., Aguacates JBR, Propal, Duclos Farms, AustChilli Group, Simpson Farms |
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A major restraint for the avocado market is the susceptibility of avocado trees to diseases and pests. Diseases such as laurel wilt and pests like avocado lace bugs can significantly reduce avocado yields, impacting market supply and prices.
Another restraint for the avocado market is the environmental impact of avocado farming. Avocado cultivation requires large amounts of water, leading to concerns about water scarcity in regions where avocados are grown. Additionally, deforestation for avocado farming can contribute to habitat loss and ecosystem degradation.
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