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The global avocado processing market reached a value of US$ 1.92 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 7.5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Avocado is used for the confection of baked products (such as cakes), to elaborate fine soup mixes, appetizers, and in the production of cosmetics (oils, skin lotions, soaps, shampoos, etc.) due to its oil content. Avocado can be processed into several products such as guacamole, avocado oils, avocado sauce, frozen products, etc.
A number of broad drivers and trends are currently driving the growth of global avocado processing market. These include rising disposable incomes, changing lifestyles, broadening of food habits, rising demand of processed foods, increasing cosmetic applications, etc. With the confluence of increasing trend of westernization of food patterns and acceptance of different cuisines along with burgeoning middle-class population, the consumption of avocado is rising across the globe. Moreover, the nutritional and health benefits associated with the consumption of avocado is also driving its demand. Avocado is rich in oleic acid, reduces cholesterol and improves heart health, acts as an antioxidant, improves skin, enhances wound healing, and neutralizes free radicals.
IMARC Group provides an analysis of the key trends in each sub-segment of the global avocado processing market, along with forecasts at the global and regional level from 2021-2026. Our report has categorized the market based on product type, application and distribution channel.
Breakup by Product Type:
Guacamole currently accounts for the largest share in the avocado processing market.
Breakup by Application:
Food and Beverages currently account for the largest share in the market.
Breakup by Distribution Channel:
North America currently represents the largest market.
The competitive landscape of the global avocado processing market has also been analyzed. Some of the leading players operating in the market are:
|Base Year of the Analysis||2020|
|Segment Coverage||Product Type, Application, Distribution Channel, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Companies Covered||Wholly, Yucatan, Sabra, PL, Calvio, Salud Food Group, Olivado Group, Spectrum organics, Grupo Industrial Batellero, Sesajal and The Village Press|
|Customization Scope||10% Free Customization|
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The global avocado processing market was valued at US$ 1.92 Billion in 2020.
We expect the global avocado processing market to exhibit a CAGR of 7.5% during 2021-2026.
The increasing demand for processed food products, along with the growing consumer awareness pertaining to the nutritional benefits of avocado consumption, is primarily driving the global avocado processing market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown across several nations resulting in the temporary halt in the processing units of avocado for several products, such as guacamole, avocado oils, avocado sauce, etc.
Based on the product type, the global avocado processing market has been divided into guacamole, avocado oil, frozen avocado, avocado sauce, and others. Currently, guacamole accounts for the largest market share.
Based on the application, the global avocado processing market can be categorized into food and beverages, cosmetics, pharmaceuticals, and others. Among these, the food and beverages industry accounts for the majority of the global market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global avocado processing market include Wholly, Yucatan, Sabra, PL, Calvio, Salud Food Group, Olivado Group, Spectrum organics, Grupo Industrial Batellero, Sesajal, The Village Press, etc.
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