Avocado Market
Avocado Market (Nature - Organic, Conventional; Form - Raw, Processed; Source - Hass, Reed, Fuerte, Others; Distribution Channel - Direct Sales, Indirect Sales; End-use - Food and Beverages Industry, Retail Industry, Cosmetics and Personal Care, Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
- Category : Food & Beverages
- Format :
Press Release :
The global avocado market is expected to witness high growth dynamics over the course of this research study conducted by Transparency Market Research, i.e. 2018-2026. Promising growth is predominantly attributed to rapidly expanding healthy food segment, globally. Reduction in production complexity and introduction of new geographies for avocado production is expected to form the supply side driving force for the avocado market. Global revenue generated from avocado market is estimated to be valued at US$ 13,641.2 Mn by the end of 2018 and is expected to increase at a CAGR of 5.9% over the forecast period. By the end of 2026, the market will possibly attain a value worth US$ 21,561.8 Mn.
Drivers & Restraints:
The increasing preference for health-enhancing food in the developed and developing regions is expected to form a major driving force for the avocado market over the forecast period. The health benefits of avocado fruit are staged as the major marketing strategy for the promotion of avocado fruits as well as an extensive range of avocado-based products. Over the course of study, findings direct a higher growth rate for the processed avocado products. Retail sector is expected to form a major volume share of the global avocado market owing to the larger demand for fresh avocados from the consumers. The millennial population increasingly consuming fresh foods and are also using ready-to-eat and heat-n-eat fresh prepared food products, as they perceive these products as quick versions of homemade meals and save on time and efforts in cooking.
Moreover, a rise in the awareness in the consumption of fruits is another key factor driving the demand for fruits and vegetables. There has been an upsurge in the popularity of Mexican and Pan-Latin flavors, making them a part of mainstream culinary culture. Nearly 73% of U.S. consumers use Mexican food and ingredients, and the sales of Hispanic food and beverages are expected to reach US$ 10.7 billion in 2017. Avocados have been one of the preferred ingredients in Mexican and Hispanic food items.
Market Taxonomy:
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 labor input. An organic segment is foreseen 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 bifurcated as raw and processed. The raw segment is expected to dominate owing to higher fresh avocado demand in retail. The processed segment is further classified into oil, guacamole, puree and other sub-segments. Oil and guacamole will occupy a major volume share of the processed avocado segment.
By distribution channel, the avocado market is segmented into direct and indirect. The indirect segment will account for the largest volume share owing to high demand for avocado fruits in retail. The indirect segment is further sub-segmented into store-based retailing and e-retailers. The store-based retailing comprises hypermarket/supermarket, convenience stores, independent small grocers, and other store-based retailing. By end-use, the global avocado market is segmented into food & beverage industry, retail, cosmetics and personal care, and other end-use industries. The source, the global avocado market is segmented into hass, reed, fuerte, and other avocado sources.
Analysis by Region:
On the basis of region, the market is segmented into North America, Latin America, Europe, APEJ, and the Middle East and Africa. While Latin America region is expected to dominate the global avocado market over the forecast period in terms of both value share and volume share, North America will follow successively in terms of volume consumption. Europe and APEJ are likely to exhibit relatively similar volume consumption with totally varying market dynamics; Europe is experiencing higher demand from processed segments, whereas APEJ is experiencing higher revenues from the fresh segment. MEA is also identified as the key region in the market in terms of both production and consumption.
Key Vendor Analysis:
Some of the major companies operating in the global avocado market 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.
Transparency Market Research offers an 8-year forecast for the global avocado market between 2018 and 2026. The global avocado market is expected to register a CAGR of 5.9% during the forecast period. The primary objective of the report is to offer insights on the advancements and opportunity in the avocado market. The study demonstrates market dynamics that are expected to influence the current challenges and future status of the global avocado market over the forecast period. This report also offers updates on trends, drivers, restraints, value forecasts, and opportunities for manufacturers operating in the global and regional avocado market. The increasing preference for health-enhancing food in the developed and developing regions is expected to form the major driving force for the avocado market over the forecast period. The health benefits of the avocado fruit are staged as the major marketing strategy for the promotion of the avocado-based products. Over the course of study, findings directed a higher growth rate for the processed avocado products. Retail to form a major volume share over the global avocado market owing to the larger demand for fresh avocados from the consumers.
The millennial population has increased their consumption of fresh foods the most out of all age groups. They are also using ready-to-eat and heat-n-eat fresh prepared food because these save time and are perceived as quick versions of homemade meals. Younger adults focus on fresh foods and on getting out of the kitchen quickly. Moreover, a rise in the awareness in the consumption of fruits is one factor driving the demand for fruits and vegetables. Also, increasing penetration of avocado into new geographies owing to improved supply chain techniques increasing shelve life of the fresh fruit is expected to boost demand for the avocado high in the retail segment over the forecast period. Isolation of production of avocado into fewer geographies is expected to pose restraint for the avocado market over the forecast period as it is attributed to hinder the penetration of avocado into new regions.
Key Segments Covered in the Report Include
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 labor 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 to stand as the major volume share of the processed avocado segment.
By distribution channel, the avocado market is segmented into direct and indirect. The indirect segment is accounted to be the largest volume share owing to the large retail demand for avocado fruits. The indirect segment is further sub-segmented into store-based retailing and e-retailers. The store-based retailing is comprised of hypermarket/supermarket, convenience stores, independent small grocers, and other store-based retailing.
By end-use, the global avocado market is segmented into food & beverage industry, retail, cosmetics and personal care, and other end-user industries. The source, the global avocado market is segmented into hass, reed, Fuerte, and other avocado sources.
The report includes market share of each segment according to the region with analysis towards market trends respectively. A section of the report highlights avocado production and demand region wise. It also provides a market outlook for 2018–2026 and sets the forecast within the context of the avocado fruit ecosystem, including the new product developments as well as product offerings in the global avocado market. This study discusses key trends contributing to the growth of the global avocado market, as well as analyses the degree to which drivers are influencing the global market. In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR but also analyze on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities.
In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view. Detailed profiles of the providers 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. Key players in the global avocado market 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.
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