Fresh Avocado Market Size, Share, Growth, And Industry Analysis, By Type (Raw Avocado, Processed Avocado), By Application (Retail Store, Online, Specialty Store), Regional Forecast To 2031

Updated On: 01 April 2024

Fresh Avocado Market Report Overview

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global fresh avocado market size was USD 15566.34 million in 2021  and market is projected to touch 40511.22 Million by 2031, exhibiting a CAGR of 10.04% during the forecast period.

As demand and appreciation for avocados rise, businesses are presented with more and more opportunities in the fresh avocados market. This industry is becoming one that professionals, entrepreneurs, and investors should be keeping close tabs on. Moreover, consumers should not ignore the immense potential of this tasty and nutritious fruit. Avocados have myriad culinary applications and can be used as a topping for salads, in desserts, as part of a healthy breakfast, or even in guacamole - a traditional Mexican dip. Moreover, due to its many vitamins, minerals, dietary fiber, and healthy fats, avocados can be successfully added to a variety of dishes such as smoothies, sandwiches, and more. In a nutshell, the fresh avocados market is full of possibilities and is one that should be given due consideration.

Producers of avocados need to pay special attention to finding the freshest fruit, as their flavor and texture will be at their peak. Ensuring the right product is selected is not difficult, with a few factors to consider. When selecting, look for firm fruit, free from any blemishes, and a healthy dark green or black hue. In the marketplace, this creates an opportunity for entrepreneurs, investors, and consumers alike. Professionals should focus on providing the freshest available fruit, allowing customers to enjoy nutritional and delectable outcomes. Retailers should boost the range of options available to shoppers, in order to meet their needs. Finally, individuals should understand the importance of selecting fresh avocados to get the most out of their experience.

COVID-19 Impact: Avocado Prices Soar in the Face of Global Pandemic

The pandemic has unilaterally affected the global economy, and the fresh avocado sector is no exception. As quarantine regulations, social distancing requirements, and restrictions on domestic and international travel have been put in place, the demand for avocados has seen an immense variance since the beginning of the COVID-19 pandemic. For households, the need for fresh avocados has been significantly affected due to the inability to buy them in stores. Since customers are unable to visit stores regularly, retailers have recorded a diminishing sales figure for their fresh avocado items. In addition, the decrease in air travel due to restrictions has led to a decrease in fresh avocado availability from overseas markets. A drop in the international stock, along with the rising production costs due to safety rules, has caused prices to jump in many countries.

In the face of such arduous challenges, farmers have had to reduce their exports and resulting in a consequential drop of up to 25 percent in the cost of fresh avocados worldwide. This has put a dent in domestic markets and the agricultural industry due to their weakened state in a globalized environment. Despite these trying times, the augmentations in technology and the rising desire for organic products have been an impetus for the market of fresh avocados. Not only has the spotlight on organic produce and the widespread use of technology-enabled producers and retailers to stay competitive but also offered a glimmer of hope for the market. Though the future of the fresh avocado market remains uncertain as the pandemic progresses, the proliferation of cutting-edge technology and organic food consumption may provide a means of resilience in this unsettled time.

Latest Trends

"Fresh Avocados are Driving Healthier Lifestyles and Promoting Sustainable Habits "

Fresh avocados market growth is skyrocketing, mainly due to the heightened awareness of how these fruits can contribute to healthier lifestyles and promote more sustainable habits.

During the course of the current decade, the industry has experienced tremendous growth with new entrants entering the market and larger firms investing significantly in their products and technologies. Particularly prominent is the rise in the number of smaller farms, craft growers, and customer-oriented operations that specialize in providing a higher quality of avocados for a much higher price, with a wider selection of flavors than what was traditionally available.

To keep up with the ever-changing consumer preferences and provide a long-term supply of fresh avocados, leading players in the market have been integrating smart farming technologies and biotechnologies such as deep learning to automate crop production.

Furthermore, they are selling their avocados online via online marketplaces and forming partnerships to enhance customers' order and delivery experience. Notably, there is an increasingly rapid adoption of organic farming techniques among major avo producers due to the growing demand for organically grown avocados that are healthier and more nutritionally beneficial.

Leading firms in the avocados market are capitalizing on the growing awareness of the fruit's health benefits by investing heavily in the creation of novel products such as beverages, extract oil, and chips. This has not only successfully generated new opportunities for the market but has also been well-received by health-conscious consumers. The expansion of the worldwide fresh avocados sector is a confirmation of the success of technological advancements and consumer-focused strategies.

Fresh Avocado Market Segmentation

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• By Type:

According to type, the market can be segmented into Raw Avocado, Processed Avocado

• By Application:

Based on application, the market can be divided into Retail Stores, Online, Specialty Store

Driving Factors

"Market Booms, the Demand Driven by Public Awareness of Health Benefits"

The market for fresh avocados is experiencing explosive growth due to the worldwide appreciation for their wholesome properties. Various drivers have contributed to this market's steady advancement, making it one of the most profitable businesses available.

The flourishing status of this industry is largely the result of a greater public understanding of the numerous advantages that come with avocado consumption. It's saturated with nutrients, minerals, and antioxidants, and has been established to support a healthy lifestyle, aiding in weight management and improving digestion, among other factors. With heightened health consciousness among shoppers, the market has seen a remarkable surge in demand.

"Avocado Demand Soars as People Look for Quality and Freshness "

Another factor driving the growth is the number of people who are willing to pay for fresh, quality avocados. Many restaurants and grocery stores are responding to this demand by offering premium avocados, often from organic farms or from specialty stores. This has also helped to fuel the growth of the avocado market, as people are willing to pay a premium for a high-quality product that meets their standards.

Restraining Factors

"Unpredictable Supply and High Price Impact Growth Potential"

Despite the growing popularity of avocados among health-conscious consumers due to their nutritional content and delicious taste, the market may soon face a concerning setback. The unpredictable supply of fresh, in-season avocados is prohibiting the growth of the avocado market and, in some cases, even reducing the demand for this product. Consumers are uncertain of their ability to purchase the product when it is in season and worry that the avocados may be past their best-by date, leading them to choose alternative options such as pre-packaged guacamole and ready-made products that are available all year round.

The instability in its supply, along with the fluctuating cost of avocados and produce, are two major factors that are impeding the growth of the fresh avocado market. The high cost of avocados makes them less accessible to a larger consumer base and causes them to be unwilling to pay the premium price for it. As a result, there is a decrease in the demand for fresh avocados, and suppliers try to sell them at a lower cost. In order for the fresh avocado market to grow and prosper, suppliers require reliable and consistent sources of supply, as well as cost-effective prices that are competitive with other produce. Pursuing organic production and sourcing straight from suppliers is one way to promote the steady production of fresh products, and enhanced merchandising and advertisement can help to make avocados more accessible to a larger number of buyers.

Fresh Avocado Market Regional Insights

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"North American Fresh Avocado Market Thrives on Growing Demand and Versatility"

The demand for fresh avocados has been steadily growing, and one region which has stood out from the rest is North America which holds the majority of the fresh avocados market share, making it a leading region in the global fresh avocados market. This area is characterized by a wide range of producers, mainly located in Mexico, the world's largest producer of avocados. Mexico is the main exporter of avocados to the United States, responsible for almost two-thirds of all avocado imports. Avocados are one of the most popular and versatile fruits in the world, consumed in a variety of ways, such as salads, sandwiches, smoothies, and guacamole, driving the market to new heights.

The North American fresh avocado market is distinguished by its large and flourishing retail sector, with avocados being sold in multiple stores, ranging from specialty shops to big supermarkets. This has been a major source of income for many producers as the appreciation for avocados has grown. Furthermore, the favorable climate in the area for cultivation and the enhancement of harvesting and planting methods have also added to the popularity of the North American fresh avocado market. It is anticipated that this trend of growth will carry on in the future due to the growing demand for avocados around the world, making the North American market a significant contributor to the global avocado business.

Key Industry Players:

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Avocados have become an extremely sought-after commodity in recent years due to their health benefits and versatility. This has caused the avocado market to become highly active, with numerous operators trying to get a piece of the pie. Several major players in the global avocado market are Grupo Bimbo from Mexico, Calavo Growers from California, and Chiquita Brands International. All of these market players have been making efforts to remain ahead of their rivals, employing strategies such as forming collaborations with other companies, introducing new products, and making mergers and acquisitions. Grupo Bimbo, for instance, is one of the major players in the avocado market and has been collaborating with others to broaden their product range and gain a competitive advantage.

Calavo Growers, a major player in the avocado market, has been partnering with other companies to broaden its product range. Recently, they joined forces with California Avocados Direct to introduce a new line of pre-prepared avocados. Calavo Growers has also been investing in new launches, like their Avocado on the Go and Simply Avocado.

Chiquita Brands International is another noteworthy participant in the avocado business. The firm has been engaging in acquisitions to extend its range of items. For example, they obtained Fresh Express, a leading producer of fresh-cut fruits and vegetables in the US. Chiquita Brands International has also been collaborating with other businesses to grow its range of products, such as its partnership with Chiquita Fresh Express. These are only a few of the key tactics employed by major players in the avocado market.

List Of The Key Players:

●   Grupo Bimbo

●   Calavo Growers

●   Chiquita Brands International

Report Coverage:

This report examines an understanding of the fresh avocados market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics.