According to the latest report by IMARC Group, titled "Avocado Processing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecas
According to the latest report by IMARC Group, titled “Avocado Processing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global avocado processing market size reached US$ 2.07 Billion in 2021. Avocado refers to the fruit of the Persea Americana tree that contains a single large seed. It is widely used in the preparation of numerous dishes, such as wraps, salads and sandwiches, due to its mild flavor as well as rich and creamy texture. It is an excellent source of essential nutrients, including minerals, proteins, potassium, lecithin, beta carotene, monounsaturated omega-9 fatty acids, and vitamins A, D, and E. Its consumption is consequently associated with maintaining cholesterol levels, improving heart health and regulating digestion. Since it also possesses antioxidant and anti-inflammatory properties, its application on the skin aids in calming itchiness, treating acne, preventing blemishes, increasing collagen metabolism, healing chapped skin and shielding the skin from ultraviolet damage. As a result, it is widely used in the preparation of numerous personal care and cosmetic products.
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Global Avocado Processing Market Trends:
The global market is primarily driven by the significant growth in the food industry. Rapid globalization, along with the inflating disposable income levels and shifting dietary preferences of the consumers, has contributed to the growing inclination toward global cuisines and westernization of food patterns. This, coupled with the escalating sales of processed and convenience foods across the globe, is providing a thrust to the market growth. Growing awareness among the masses regarding the health benefits offered by the consumption of avocadoes has contributed to an increase in their uptake. Several users are also replacing butter and vegetable oils with avocado oil in household and commercial settings due to its high concentration of beneficiary fatty acids. This, in turn, is acting as a major growth-inducing factor. Furthermore, the rising trend of personal grooming among the masses has catalyzed the demand for organic skincare and personal care products, which consist of avocado as an essential ingredient. The market is also driven by the rising popularity of frozen avocado and avocado sauce on the global level, along with the expansion of organized online retail channels. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 7.2% during 2022-2027.
- On the basis of the product type, the market has been divided into guacamole, avocado oil, frozen avocado, avocado sauce and others. Among these, guacamole represents the most popular product type.
- On the basis of the application, the market has been classified into food and beverages, cosmetics, pharmaceuticals, and others, wherein food and beverages account for majority of the total global market.
- On the basis of the distribution channel, the market has been segregated as supermarkets and hypermarkets, convenience stores, online, others.
- On the geographical front, North America holds the leading position in the market. Some of the other major regions include Europe, Asia Pacific, Middle East and Africa, and Latin America.
- The competitive landscape of the market has been analyzed in the report with the detailed profiles of the key players. Some of these players include Hormel Foods Corporation, YUCATAN FOODS, Sabra Dipping Company, LLC, Calavo Growers, Inc., Salud Foodgroup Europe BV, Olivado, SPECTRUM ORGANIC PRODUCTS, LLC, GRUPO INDUSTRIAL BATELLERO S.A. de C.V., Sesajal S.A. de C.V., and The Village Press.
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
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