The avocado processing market reached a value of US$ 1.7 Billion in 2018. 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. Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2024, growing at a CAGR of around 8% during 2019-2024.
Historical, Current and Future Market Trends
Market Breakup by Product Type:
Guacamole currently accounts for the largest share in the avocado processing market.
Food and Beverages currently account for the largest share in the market.
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:
Key Questions Answered in This Report:
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