Avocado Market

Avocado Market Size Survey Report – In a Glance

As per the survey report on global Avocado market, the market is projected to foresee a CAGR of 9.8% between 2024-2033, and further generate a market size of USD 42.8 billion by the end of 2033. In the year 2024, the market size was valued at USD 19.3 billion.

• The global Avocado market is projected to grow on account of the increased consumption of avocados worldwide.
• In Japan, the Avocado market growth can be attributed to the increased consumption of avocados worldwide.
• KDMI analyst’s growth analysis foresees the low popularity of avocados to challenge the market growth.
• North America, Having The Highest Market Share in the Avocado market is projected to dominate the global market.

Avocado Market Analysis

Analyst’s Observation on Avocado Market Survey

Avocado is an oval pear-shaped fruit that is rich in various nutrients, vitamins, and minerals and is considered a Super Fruit. The most produced variety of avocados is the Hass variety, 80% of the world's production, other cultivated varieties are Bacon, Fuerte, Gwen, Maluma, Choquette, Lula, Ettinger, and Pinkerton. The Avocado market is rising due to increased consumption of avocados worldwide. Consumers greatly enjoy the taste of avocados with various recipes for their health benefits are another important factor driving the purchases of the fruit. Worldwide avocado consumption has tripled from 6 billion pounds in 2000 to 18 billion pounds in 2020. Over the last two decades, avocado consumption has experienced significant growth across all continents. Calavo Growers, Inc., West Pak Avocado, Inc., and Westfalia Fruit are some of the significant parties in the global market for Avocado.

Analyst’s Observation on Japan Avocado Market Survey

In Japan, the market growth for Avocados can be attributed to the demand for nutritious foods such as avocados. Japanese culture has a long-standing emphasis on balance and wellness, Japan's reputation for longevity, health, and wellness witnessed that Japanese people prioritize mindful and nutritious eating habits. For instance, Avocados are nutritious and full of minerals including fiber, folic acid, potassium, and vitamins B, C, E, and K. Japanese eat avocado regularly in the form of salads, toasts, tacos, or homemade sushi to get nutritional benefits. Japan is a major importer of Hass variety avocados, with imports valued at USD 160 million (61,000 metric tons) in 2023. Interoleo Co., Ltd, Royal Co Ltd., and Sumifru Japan Corporation are some of the significant parties in the market for avocados in Japan.

Avocado Market Growth Drivers and Challenges

Growth Drivers

Increased health consciousness: Avocado is the first choice among the health consciousness population worldwide. A daily dose of avocado is good for the heart, people who eat avocados every day have higher levels of HDL means good cholesterol which is essential for better heart functions. Avocados are helpful to a diabetic diet as well, it is a nutritious option for people following a diabetic diet, as diabetes is rising globally. Furthermore, Avocado consumption is also growing due to the fruit’s benefits for health, which consist of bettering digestion, propelling natural detoxification, and enhancing vision. The avocado has become one of America's favorite nutritious foods in the past few decades, Avocado's nutritional profile, usefulness, and health benefits have helped to freeze its status as a superfood.

Rising adoption of a vegan diet: A vegan diet is the adoption of plant-based food and abstaining from animal products. A vegan diet is useful in lowering blood pressure, cholesterol, obesity, type 2 diabetes, and some types of cancer. Going vegan is a great chance to improve your diet with Avocado, getting nutrients from this fruit allows more health-promoting options. Avocados are often used as alternatives for dairy and animal fats in several recipes because of their creamy texture and beneficial fat content. This makes avocado the most popular choice among vegan diet consumers who are looking to reduce or eliminate animal products from their diets. Avocados are widely considered vegan-friendly due to several key aspects of their composition. As plant-derived fruits, they do not contain actual animal meat or animal byproducts supporting the primary views of veganism. The rise in the adoption of a vegan diet has significantly contributed to the avocado market growth.

Restraint factors

The low popularity of avocados: The low popularity of avocados is a key challenge affecting the market growth. The market faces a significant challenge due to the quite low awareness and demand for avocado as compared to other fruits. Avocado is not a native fruit from many regions and countries hence many people are not aware of avocado fruit and its health benefits. Low awareness of avocado fruit hampering the Avocado market growth.

Environmental Concerns: Avocados are an especially thirsty crop, Avocado production is highly water-intensive, using an average of 70 liters per avocado, which is more than three times the amount of water needed to grow one other fruit. Growing avocados is so lucrative that farmers cut down older trees and replace them with young avocado trees, draining local water supplies and leading to deforestation and biodiversity loss.

Avocado Market Segmentation

Our experts at KD Market Insights have segmented the global Avocado market research report as:

Avocado Market Regional Synopsis

North America having the highest market share in Avocado market is majorly driven by rising avocado consumption. In the North America Avocado consumption has experienced rapid growth in the last decades. The popularity of avocados in this region can be attributed to the growing trend of healthy eating and the rise of the “nutritional benefits associated with avocados. In the United States Avocado consumption is increased sixfold, from a modest 436 million pounds a year to an enormous 2.7 billion pounds in 2022. The shift towards healthier eating habits has significantly increased avocado consumption in Canada. The high demand for the Avocado in the United States and Canada led to North America's global market dominance in 2023, as a result, North America accounted for the most significant share of revenue.

Asia Pacific is growing with fastest CAGR in the Avocado market is majorly driven by consumers looking to improve their diets with healthy food. Consumer spending on natural, healthy, and fresh foods has increased significantly. The trend has boosted avocado sales rapidly in the Asia Pacific region. In 2022, China imported over 26,000 metric tons of fresh avocados from Peru, accounting for 64% of the imported avocado market share. In India, rising demand for avocados partially driven by health consciousness and increased consumer awareness about Avocadoes continues to drive the market growth. The Brazilian government welcomed the decision by the Japanese government to authorize Brazilian exports of Hass avocado into the country. This authorization unlocks new opportunities for the Brazilian agribusiness sector while expanding Avocado supply to Japan, one of the world’s most quality-demanding markets.

Avocados are already a standard product in most grocery stores in Europe. European imports totaled 813,000 tons of Avocado in 2022. France comes out on top as the European country consuming the most avocados in 2023 though the UK and Germany rank second and third.

In Latin America, Mexico’s avocado production in 2024 is forecast at 2.77 million metric tons (MMT), a five percent upsurge over 2023 on strong export demand.

In The Middle East region, organic and natural products are gaining significant popularity for their health benefits. The growing awareness regarding the benefits of consuming avocado is boosting the market growth.

In South Africa, 80% of avocado trees produced in nurseries are the dark-skinned ‘Hass’ which are most demanding globally.

As per our analysts at KD Market Insights, the following five players lead the North America having the highest share in the Avocado market:

• WEST PAK AVOCADO INC
• INTERNATIONAL PAPER COMPANY
• SIMPLOT INTERNATIONAL

Avocado Market Competitive Landscape

Some of the key players who top the global Avocado market share:

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

1. Executive Summary

1.1. Market Overview

1.2. Key Findings

1.3. Market Trends

1.4. Market Outlook

2. Introduction

2.1. Scope of the Report

2.2. Research Methodology

2.3. Definitions and Assumptions

2.4. Acronyms and Abbreviations

3. Market Dynamics

3.1. Drivers

3.2. Restraints

3.3. Opportunities

3.4. Challenges

4. Global Avocado Market

4.1. Market Overview

4.2. Market Size and Forecast

4.3. Market Segmentation

4.3.1. By Product

4.3.2. By Type

4.3.3. By Form

4.3.4. By Application

4.3.5. By Distribution Channel

4.3.6. By Region

5. Market Segmentation by Product

5.1. Conventional

5.2. Organic

5.3. Others

6. Market Segmentation by Type

6.1. Hass Avocado

6.2. Reed

6.3. Fuerte

6.4. Others

7. Market Segmentation by Form

7.1. Raw

7.2. Processed

7.2.1. Oil

7.2.1.1. Refined Oil

7.2.1.2. Extra Virgin Oil

7.2.1.3. Blends

7.2.2. Guacamole

7.2.3. Puree

7.3. Others

8. Market Segmentation by Application

8.1. Food

8.2. Retail

8.3. Cosmetic

8.4. Medical

8.5. Other

9. Market Segmentation by Distribution Channel

9.1. Business-To-Business

9.2. Business-To-Consumers

9.3. Others

10. Regional Analysis

10.1. North America

10.1.1. United States

10.1.1.1. Market Size and Forecast

10.1.1.2. Key Trends and Developments

10.1.1.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.1.2. Canada

10.1.2.1. Market Size and Forecast

10.1.2.2. Key Trends and Developments

10.1.2.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.1.3. Mexico

10.1.3.1. Market Size and Forecast

10.1.3.2. Key Trends and Developments

10.1.3.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.2.Europe

10.2.1. United Kingdom

10.2.1.1. Market Size and Forecast

10.2.1.2. Key Trends and Developments

10.2.1.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.2.2. Germany

10.2.2.1. Market Size and Forecast

10.2.2.2. Key Trends and Developments

10.2.2.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.2.3. France

10.2.3.1. Market Size and Forecast

10.2.3.2. Key Trends and Developments

10.2.3.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.2.4. Italy

10.2.4.1. Market Size and Forecast

10.2.4.2. Key Trends and Developments

10.2.4.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.2.5. Spain

10.2.5.1. Market Size and Forecast

10.2.5.2. Key Trends and Developments

10.2.5.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.2.6. Rest of Europe

10.2.6.1. Market Size and Forecast

10.2.6.2. Key Trends and Developments

10.2.6.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.3.Asia Pacific

10.3.1. China

10.3.1.1. Market Size and Forecast

10.3.1.2. Key Trends and Developments

10.3.1.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.3.2. Japan

10.3.2.1. Market Size and Forecast

10.3.2.2. Key Trends and Developments

10.3.2.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.3.3. India

10.3.3.1. Market Size and Forecast

10.3.3.2. Key Trends and Developments

10.3.3.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.3.4. Australia

10.3.4.1. Market Size and Forecast

10.3.4.2. Key Trends and Developments

10.3.4.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.3.5. South Korea

10.3.5.1. Market Size and Forecast

10.3.5.2. Key Trends and Developments

10.3.5.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.3.6. Rest of Asia Pacific

10.3.6.1. Market Size and Forecast

10.3.6.2. Key Trends and Developments

10.3.6.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.4.Latin America

10.4.1. Brazil

10.4.1.1. Market Size and Forecast

10.4.1.2. Key Trends and Developments

10.4.1.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.4.2. Argentina

10.4.2.1. Market Size and Forecast

10.4.2.2. Key Trends and Developments

10.4.2.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.4.3. Colombia

10.4.3.1. Market Size and Forecast

10.4.3.2. Key Trends and Developments

10.4.3.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.4.4. Rest of Latin America

10.4.4.1. Market Size and Forecast

10.4.4.2. Key Trends and Developments

10.4.4.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.5.Middle East & Africa

10.5.1. South Africa

10.5.1.1. Market Size and Forecast

10.5.1.2. Key Trends and Developments

10.5.1.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.5.2. Saudi Arabia

10.5.2.1. Market Size and Forecast

10.5.2.2. Key Trends and Developments

10.5.2.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.5.3. UAE

10.5.3.1. Market Size and Forecast

10.5.3.2. Key Trends and Developments

10.5.3.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

10.5.4. Rest of Middle East & Africa

10.5.4.1. Market Size and Forecast

10.5.4.2. Key Trends and Developments

10.5.4.3. Market Analysis by Product, Type, Form, Application and Distribution Channel

11. Competitive Landscape

11.1. Market Share Analysis

11.2. Company Profiles

11.2.1. All Company Names

11.2.1.1. Calavo Growers, Inc.

11.2.1.2. West Pak Avocado, Inc.

11.2.1.3. Westfalia Fruit

11.2.1.4. Mission Produce, Inc.

11.2.1.5. EMPACADORA AVEHASS S.A. DE C.V.

11.2.1.6. Aguacates JBR

11.2.1.7. Propal

11.2.1.8. Duclos Farms

11.2.1.9. AustChilli Group

11.2.1.10. Simpson Farms

12.Strategic Recommendations

13.Appendix

13.1. List of Tables

13.2. List of Figures

14.References