Avocado-based Products Market
Avocado-based Products Market (Type: Raw/Fresh and Processed; Nature: Organic and Conventional; Application: Food & Beverages, Food Service Industry, and Retail/Household; and Distribution Channel: Business to Business and Business to Consumers) – North America and Europe Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
Press Release :
Global Gap-certified Products Fuel Demand during COVID-19 Pandemic
The World Avocado Organization (WAO) is promoting physical and mental health benefits of avocados during the COVID-19 pandemic. Public and private sector stakeholders are adopting various measures to supply avocados in North America and Europe with the help of environmentally safe and socially responsible methods. Companies in the North America & Europe avocado-based products market are increasing the availability of Global Gap-certified products, which help manufacturers to comply with food safety and safety of the workers.
Companies in the North America & Europe avocado-based products market are operating in a responsible manner by practicing safety measures and coordinating with government authorities. Educational practices are being used by companies to support the importance of a healthy diet.
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Sweet Versus Savory: Which Flavor Meets Consumer Expectations?
The increasing number of vegan consumers has fueled the demand for dairy-free butter coffee. Companies in the North America & Europe avocado-based products market are developing next-gen butter coffee with the help of avocado oil. In order to achieve this, manufacturers are investing in R&S and testing activities to innovate in dairy-free butter coffee. As such, manufacturers are producing gluten-free, non-GMO (Genetically Modified Organisms), and vegan puffed salty snacks with the help of avocados. For instance, the next-generation consumer products company, The Naked Market, has introduced new AvoCrazy puffs that are made from avocado oil, pulp, and avocado powder.
Companies in the North America & Europe avocado-based products market are innovating in chocolaty avocado puddings and spicy avocado-based dips. On the go products and spreads are meeting convenience needs of consumers.
Mulch Films and Glass Roofs Help Overcome Challenges in Avocado Production
The North America & Europe avocado-based products market is projected to reach a significant mark by 2030. However, manufacturers are facing challenges in avocado production, as avocados are cultivated as single crops, which tend to deplete soil quality and require huge volumes of water supplies. Hence, manufacturers are participating in collaborative knowledge sharing initiatives to improve avocado production. As such, mulch films are emerging as a promising solution to achieve evapotranspiration and enable drip irrigation systems.
Manufacturers in the North America & Europe avocado-based products market are experimenting with glass roofs to reuse evapotranspiration of trees.
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High Antioxidant Avocado Beverages Pose Stiff Competition to Kombucha Drinks
In order to strike the right balance between health and indulgence, manufacturers in the North America & Europe avocado-based products market are boosting their output capacities in ready-to-drink beverages. High antioxidants content in avocado is posing tough competition to kombucha drinks. Avocado seeds contain maximum amount of antioxidants. Thus, manufacturers can adopt cost-efficient production methods by sourcing avocado seeds, since a significant volume of these seeds end up in waste.
Companies in the North America & Europe avocado-based products market are increasing their R&D in patented processes to extract maximum nutritional value of avocado seeds into ready-to-drink beverages. The production at agriculture-certified facilities is helping manufacturers gain market recognition.
Demand for Avocado Oil for Cooking and Cholesterol Management
The fat in avocados is being highly publicized as a healthy fat. Thus, avocado-based products are growing popular for cholesterol management. Avocado oil is in high demand for use in cooking, owing to its neutral flavor and high smoke point in high-heat sautéing and flame grilling purposes. Manufacturers in the North America & Europe avocado-based products market are increasing their production capabilities in avocado oil, since health conscious customers are using this oil in spreads and dressings.
Brain boosting functions and fat burning characteristics of avocado oil are being preferred by consumers.
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The demand for bagged avocados is on the rise amidst the ongoing COVID-19 pandemic, since customers are limiting their time in supermarkets. California-based Calavo Growers Inc. has announced to expand its cooling capacities to upgrade its volume and grading technology. However, the rate of innovation in the North America & Europe avocado-based products market is relatively slow. Hence, manufacturers should mainly focus on both sweet and savory options, such as chocolaty avocado puddings and organic spicy avocado hummus to tantalize taste hybrids. Avocado infused chocolate bars and ready-to-drink beverages are gaining popularity.
Avocado-based Products Market: Overview
- The avocado-based products market value in North America is estimated to cross US$ 4.3 Bn in 2020, finds Transparency Market Research (TMR) in a recent study. According to the report, the market is expected to surpass US$ 7.3 Bn by 2030, at a CAGR of 5.4% in North America. The revenue from the Europe avocado-based products market is estimated to be valued over US$ 2.3 Bn in 2020, and expected to cross US$ 4.8 Bn by the end of 2030.
- The processed avocado is majorly used in the production of sauces and dips. The increasing demand for avocado sauces and dips from the food processing industry is expected to drive the demand for avocado-based products market in Europe.
- The demand for avocado-based products is rising from the food & beverages industry, as it enhances the nutritional profile and taste of food products. Awareness regarding good quality food contributing toward healthy lifestyle is driving consumers to natural and organic products. Moreover, consumers are curious about the quality of ingredients used in food products, and prefer healthy, nutritious, tasty, and innovative food products.
- With growing awareness about the key role played by food and beverages in promoting good health, the consumption of functional beverages has increased. Rise in application of tropical fruits puree such as avocado puree in the production of such functional beverages has paved way for growth opportunities for the avocado-based products market.
Avocado-based Products: Market Frontrunners
- Based on nature, the conventional segment dominates the North America avocado-based products market in the year 2020. However, organic avocado-based products are gaining massive traction among end users and the segment is expected to grow at a CAGR of 6.1% in North America.
- The raw/fresh type segment accounts for the largest share of 85.4% of the North America avocado-based products market, as majority of avocados are imported or produced in the North America for fresh consumption
- The retail/household application segment of the avocado-based products market is expected to exhibit high incremental opportunity over the forecast period due to increasing demand for avocado butter, avocado oil, and avocado puree from various retail sales channels
- In the Europe avocado-based products market, France accounts for the largest value share of 21.9%, owing to increasing awareness about beneficial properties of avocado among consumers and expanding application of avocado-based products in the food & beverages industry.
Avocado-based Products Market: Trends
- Increase in demand for processed food products to fuel demand for avocado-based products: With bourgeoning urban and millennial consumers, demand for processed food items is increasing. Companies in North America and Europe are launching smoothie and juice products prepared from varieties of puree with added minerals and nutrients. These companies are selling products directly to end users/customers, which can be consumed directly. It also has various food and beverage applications, which will increase the significance of this product in households. The avocado puree is also the main ingredient in these various exotic smoothies and food products. The increasing application of the avocado puree in various smoothies and other drinks is driving the market for avocado-based products in North America and Europe.
- Consumer preference toward nutritious food products to steer demand for avocado-based products: Consumers today demand food that is natural and nutritious offering health benefits. Millennials prefer high-quality products without compromising on the nutritional value and taste of the food. Avocado is known to have high nutritional value. It is rich in vitamins and is a natural source of vitamins B, K, C, and E. Avocado is also rich in vitamins, potassium, carotenoids, and phytosterols. Avocado-based products, being natural and nutritionally dense, are gaining traction among consumers, thus contributing to the growth of the market.
Avocado-based Products Market: Strategies
- Leading players in the avocado-based products market landscape are involved in geographical expansion and enhancement of business activities globally. Companies are also focusing on expanding presence in local markets.
- Leading players operating in avocado-based products market are also focusing on offering premium quality product to customers to add value to their health. Companies are conducting regular audits for high-quality products and complying with different international standards for quality assurance.
Avocado-based Products Market: Players
- Some of the key actors including producers, cultivators, and brands operating in the avocado-based products market, as profiled in the study, are
- Nestle SA
- Döhler GmbH
- Stonehill Produce
- Florigin Limited
- Simped Foods Pty Ltd.
- The FoodFellas Ltd.
- The Wilatta Group
- The Berry Man (Aus) Pty Ltd.
- Grupo Comavo
Avocado-based Products Market - Scope of the Report
Transparency Market Research (TMR) has recently published a market study on the avocado-based products market. It provides a detailed assessment of key market dynamics, including drivers, trends, opportunities & restraints, and detailed information about the avocado-based products market structure. The market study presents exclusive information about how the avocado-based products market will grow during the forecast period of 2020-2030.
Key indicators of market growth, which include year-on-year (Y-o-Y) growth of the market, value chain, supply chain analysis, and compounded annual growth rate (CAGR) are elaborated in the study in a comprehensive manner. This information is intended to help readers understand the quantitative growth prospects of the avocado-based products market during the forecast period.
The study is intended to offer a holistic market overview to stakeholders in the avocado-based products market, including manufacturers, suppliers, distributors, cultivators, brands and investors, and to help them develop winning growth strategies. Stakeholders in the avocado-based products market, which include investors, industry experts, researchers, and journalists, and business researchers can leverage the information and data presented in TMR’s study.
The study also includes statistics and facts related to the macro as well as microeconomic factors that are impacting the expansion of the market. It also offers actionable insights into the future trends in the avocado-based products market. Furthermore, small businesses and new entrants in the avocado-based products market can make use of the information presented in this study based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Questions Answered in TMR’s Avocado-based Products Market Report
- Which region will continue to remain the most profitable regional market for avocado-based products market players?
- Which factors will induce a change in the demand for avocado-based products during the assessment period?
- How will the changing trends impact the avocado-based products market?
- How can market players capitalize on the low-hanging opportunities in the avocado-based products market in developed regions?
- Which companies are leading the avocado-based products market?
- What are the winning strategies of stakeholders in the avocado-based products market to catapult their position at the forefront?
Avocado-based Products Market: Research Methodology
In TMR’s study, a unique research methodology is used to conduct extensive research on the growth of the avocado-based products market and identify future growth parameters. This research methodology is a combination of primary and secondary research, to help analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts for compiling the avocado-based products market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers who contributed to the development of this report as a primary source.
Information acquired from primary and secondary sources is compiled in a comprehensive manner. This also acts as a validation from companies in the avocado-based products market, which makes TMR’s projections more accurate and reliable.
Key Segments of the Avocado-based Products Market
TMR’s study on the avocado-based products market offers information divided into important segments — type, nature, application, distribution channel, and region. This report offers a comprehensive data and information about the important market dynamics and growth parameters associated with these categories.