Avocado Processing Market

Market Overview:

The global avocado processing market size reached US$ 2.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.4 Billion by 2032, exhibiting a growth rate (CAGR) of 7.08% during 2024-2032. The growing health awareness, thriving food service sector, and rising popularity of western food products represent some of the key factors driving the avocado processing market.

Rising Health Awareness Among Individuals Impelling Market Growth

The increasing health awareness among people currently represents one of the primary drivers resulting in the increasing sales of avocadoes. There is an increase in the prevalence of chronic and lifestyle diseases, such as diabetes, heart disease, blood pressure, hypertension, and obesity among the masses. This, coupled with the rising shift towards healthy food products among health-conscious consumers, along with the inflating income level of individuals, is propelling the growth of the market. Moreover, there are various benefits offered by avocados, such as weight loss management, healthy skin and hair, and enhanced immunity.

Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is fragmented with a large number of players currently operating in the industry. The volume of new entrants is high in the avocado processing industry due to the low product differentiation and high market growth. Also, majority of the market comprises products with little differentiation between various manufacturers.

What is Avocado Processing?

Avocado is a rich source of phytosterols, vitamins E and C, minerals, fibers, antioxidants, amino acids, and monounsaturated fatty acids. It assists in relieving arthritis pain, enhancing cholesterol levels, reducing the risk of heart from atherosclerosis, maintaining a healthy vision and digestive system, and improving the antioxidant properties among individuals. As a result, avocado is processed to preserve its taste, texture, and color for a long period of time. Avocado processing can be done by removing the peduncle and cleaning it in a machine through chlorinated water and rotating brushes. In addition, it is used to produce various processed food products, such as guacamole, avocado oils, and avocado sauce, by cutting, peeling, and mixing avocado with onion, chili pepper, and several acids. Furthermore, avocado processing enables preparation of wraps, salads, sandwiches, sushi rolls, and other high-quality ready-to-eat (RTE) food products around the world.

COVID-19 Impact:

The COVID-19 pandemic outbreak caused a severe problem for the avocado processing industry and imposed unprecedented challenges on numerous countries. It hampered the production of avocados due to the shutdown of manufacturing units. Due to supply chain disruptions and transport restrictions, the industry faced huge losses. In addition, the raw materials that couldn’t be transferred to the processing plants caused a significant loss of farm produce. Less demand for avocados was observed on account of the shutdown of hotels, cafes, restaurants, and other food chains. Besides this, there was an unavailability or shortage of labor and equipment in the agricultural production, processing, and distribution channels. This has also caused a spike in the prices of avocados that eventually led to their decreased demand among the masses around the world. However, post-pandemic consumption of avocados is expected to increase due to health consciousness among individuals, as they comprise various vitamins and minerals. Furthermore, the demand for processed avocado products has been witnessed among consumers due to hectic and busy lifestyles.

Avocado Processing Market Trends:

At present, the increasing adoption of processed and ready-to-eat (RTE) avocado products due to the busy and hectic lifestyles of individuals worldwide represents one of the major factors influencing the market positively. Moreover, the rising utilization of processed avocado products in the food and beverage (F&B) industry to prepare multiple cuisines, along with the thriving food service sector, is strengthening the growth of the market. Apart from this, the growing demand for avocado processed food products on account of the increasing health awareness among the masses, coupled with the inflating income level of individuals across the globe, is offering a positive market outlook. Additionally, the rising acceptance and influence of Western culture and food products among individuals around the world are offering lucrative growth opportunities to industry investors. Besides this, the increasing demand for avocados, as they aid in relieving arthritis pain, improving healthy vision, and reducing the risk of heart diseases, is supporting the growth of the market. In addition, the wide availability of processed avocado products through online and offline distribution channels is bolstering the growth of the market. Furthermore, the increasing demand for avocados to enhance wound healing and neutralize free radicals in the body is contributing to the growth of the market. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global avocado processing market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on product type, application and distribution channel.

Product Type Insights:

• Guacamole
• Avocado Oil
• Frozen Avocado
• Avocado Sauce
• Others
   

The report has provided a detailed breakup and analysis of the avocado processing market based on the product type. This includes guacamole, frozen avocado, avocado oil, avocado sauce, and others. According to the report, guacamole represented the largest segment due to its rising utilization as a dip or spread for salad dressing and in various Mexican cuisine. In addition, guacamole is a rich source of vitamin E and C that assist in maintaining a healthy heart, skin, hair, and eyes. Moreover, the increasing consumption of guacamole for weight loss and boosting immunity is bolstering the growth of the market.

Application Insights:

• Food and Beverages
• Cosmetics
• Pharmaceuticals
• Others
   

A detailed breakup and analysis of the avocado processing market based on the application has also been provided in the report. This includes food and beverages, cosmetics, pharmaceuticals, and others. According to the report, food and beverages accounted for the largest market share due to the increasing utilization of processed avocado products in this industry. In addition, the rising consumption of packaged and ready-to-eat (RTE) avocado food products among the masses is contributing to the market growth.

Distribution Channel Insights:

• Supermarkets and Hypermarkets
• Convenience Stores
• Online
• Others
   

A detailed breakup and analysis of the avocado processing market based on the distribution channel has also been provided in the report. This includes supermarkets and hypermarkets, convenience stores, online, and others.

Regional Insights:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. According to the report, North America was the largest market for avocado processing. The North America avocado processing market is primarily driven by the growing consumption of avocado products due to the rising prevalence of chronic diseases among individuals. In addition to this, the increasing adoption of ready-to-eat (RTE) avocado food products on account of hectic lifestyles of individuals, along with the increasing health-consciousness, is impelling the market growth.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global avocado processing market. Some of the companies covered in the report 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.
• The Village Press
   

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the avocado processing market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global avocado processing market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the avocado processing industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.