Avocado Market size to grow by USD 4.8 billion from 2021 to 2026 | North America is estimated to contribute 34% to the growth of the global market - Technavio
NEW YORK , Nov. 13, 2023 /PRNewswire/ -- The avocado market size is expected to increase by USD 4.8 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.04%, according to Technavio. By geography, the avocado market is segmented into North America, South America, APAC, Middle East and Africa, and Europe. The report provides actionable insights and estimates the contribution of all regions to the growth of the avocado market. North America is estimated to contribute 34% to the growth of the global market during the forecast period. Mexico and the US are the key contributors to the market in the region. Furthermore, California is the largest avocado-producing state in the US. Mexico and the Dominican Republic were the top avocado producers in North America in 2021. In addition, Michoacan was the largest avocado producer in Mexico in 2021 and accounts for about 80% of the country's total avocado production. Hence, these factors are expected to drive market growth in the region during the forecast period. -Request a sample report
Avocado Market – Company Analysis
Company Landscape - The avocado market is fragmented, with the presence of several global as well as regional companies. A few prominent companies that offer avocado in the market are Aguacates Selecionales JBR SA de C.V., Brooks Tropicals LLC, Calavo Growers Inc., Costa Group Holdings Ltd., Del Monte Food Inc., Del Rey Avocado Co. Inc., Fresca Group Ltd., Greenyard NV, Henry Avocado Corp., Index Fresh Inc., McDaniel Fruit Co., Melissas World Variety Produce Inc., Natures Touch Frozen Foods Inc., Propal, Rincon Farms Produce, Salud Foodgroup Europe BV, Tesco Plc, The Jupiter Group, West Pak Avocado Inc., and Westfalia Fruit Pty Ltd. and others.
What's New? -
- Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
- Global competitiveness and key competitor positions
- Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!
Company Offerings -
- Indexfresh - The company offers avocados such as Hass, Lamb Hass, and GEM avocados.
- Costa Group Holdings Ltd. - The company offers avocados such as Hass, Shepard, and Maluma avocados.
- Del Monte Food Inc. - The company offers avocados such as hass, fuerte avocados.
- For details on the company and its offerings – Request a sample report
Avocado Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on product (conventional and organic)
- The avocado market share growth in the conventional segment will be significant during the forecast period. This is due to people's awareness of the health benefits of avocados as they are rich in essential vitamins and minerals. The use of avocados as an ingredient in the production of some food products will increase the demand for conventional avocados. In addition, the launch of new products that contain avocado as an ingredient will also increase segment growth. Hence, these factors are expected to drive segment growth during the forecast period.
For insights on global, regional, and country-level parameters with growth opportunities from 2021 to 2026 - Download a Sample Report
Avocado Market – Market Dynamics
Key Driver
The health benefits associated with avocados are key factors driving market growth. Avocados are rich in important vitamins, including C, E, K, and B-6, as well as nutrients like riboflavin, niacin, folate, pantothenic acid, magnesium, potassium, lutein, and omega-3 fatty acids. Furthermore, they provide significant fiber, which helps with better digestion, relieves constipation, supports a healthy digestive system, and reduces the risk of colon cancer. Hence, these various health benefits are expected to drive market growth during the forecast period.
Major Trends
The adoption of new technologies is a major trend in the market.
Significant challenges
The low popularity of avocado oil is a major challenge restricting market growth.
What are the key data covered in this Avocado Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the avocado market between 2022 and 2026
- Precise estimation of the size of the avocado market and its contribution to the market with a focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the avocado market across North America, South America, APAC, Middle East and Africa, and Europe
- A thorough analysis of the market's competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of avocado market companies
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Related Reports
The avocado oil market is estimated to grow at a CAGR of 12.95% between 2022 and 2027. The size of the market is forecast to increase by USD 516.45 million.
The flax seeds market is estimated to grow at a CAGR of 11.75% between 2022 and 2027, and the market size is forecast to increase by USD 955.11 million.
Table of Contents
Executive Summary
Market Landscape
Market Sizing
Historic Market Size
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, and Trends
Vendor Landscape
Vendor Analysis
Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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