Avocado-based Products Market to Observe Extensive Growth Due to Rising Popularity of Organic Products, Says TMR

- The avocado-based products market is estimated to witness steady growth during the forecast period of 2021-2031, mainly due to rich nutrient content in avocados

- Rising number of lactose-intolerant people is driving many individuals to opt for plant-based butters, thus boosting market growth prospects

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Transparency Market Research

Oct 04, 2021, 10:30 ET

ALBANY, N.Y., Oct. 4, 2021 /PRNewswire/ -- Evolving consumer preferences and growing awareness among consumers about the importance of use of avocados in daily diet regime are projected to serve as vital growth-boosting factors for the avocado-based products market during the forecast period of 2021-2031. The increasing use of avocado-based products in various end-use industries such as the retail industry, food &beverage industry, cosmetics &personal care, and others will assure market expansion.

Transparency Market Research (TMR) has conducted an extensive research on various aspects associated with the growth of the avocado-based products market. The TMR analysts estimate the global market for avocado-based products to expand at a CAGR of 6.1% during the forecast period. The avocado-based products market is expected to cross US$ 29.93 Bn by 2031.

The popularity of avocado oil as a feasible alternative to traditional oils is assuring substantial growth for the avocado-based products market. Players in the avocado-based products market are banking on this aspect. Avocado oil has vitamin A and promotes good health. In addition, due to the COVID-19 pandemic, the demand for immunity-boosting foods has increased to a considerable extent. Avocado is known to increase immunity levels. Therefore, these factors are anticipated to drive the avocado-based products market. The players in the avocado-based products market are expected to focus on R&D activities to create avocado-based food items that are effective and inexpensive for consumers, which will ultimately lead to an increase in their revenue.

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Key Findings of Report

Rise in Demand for Plant-based Butters to Improve Growth Trajectory of Avocado-based Products Market

Plant-based butters are emerging as superfood for lactose-intolerant individuals and vegans. These dairy-free products have the same taste as traditional butter. During the making of plant-based products, avocado oil is used as a prime component. The rising number of vegan population and the inclination of many individuals toward plant-based butter are likely to promote the growth of the avocado-based products market.

Increase in Use of Avocado Powder in Dietary Supplements to Propel Market Growth

The use of avocado powder in dietary supplements is acting as a growth accelerator for the avocado-based products market. Avocado comprises fiber, potassium, and monosaturated fatty acids. These nutrients are beneficial for fitness and other aspects. Thus, the growing consciousness about fitness among numerous individuals around the globe will present substantial growth opportunities to the market.

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Online Shopping to Offer Revenue Opportunities to Avocado-Based Products Market

The trend of online shopping was on the rise even before the pandemic but many food and beverage manufacturers relied on brick and mortar stores. However, as the pandemic struck across the globe and stay-at-home orders were imposed, online shopping became a popular method for shopping while staying at home. Lockdown restrictions and constant uncertainty about the reopening of stores forced many companies in the avocado-based products to market to sell their products through e-commerce platforms, thus impacting the growth structure of the avocado-based products market positively.

Some well-established players in the avocado-based products market are Salud Food Group Europe B.V, Westfalia Fruit (Pty) Ltd, Spectrum Organics Products, Avocado Mexico, Good Foods Group, Dipasa USA Inc., Calavo Growers Inc., Grünewald Fruchtsaft GmbH, Crofts Ltd., Sesajal S.A de C.V., and Frutas Montosa.

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