The global guacamole market size reached a value of US$ 921 Million in 2018. Guacamole is a thick or semi-liquid paste of avocado mixed with chopped tomatoes, onions, chili peppers, and seasoning. Guacamole was first created in Mexico by the Aztecs but has now gained popularity across the globe and has become a key component of various cuisines as a dip, condiment, salad ingredient, etc.
With increasing globalization, guacamole has become a part of various international cuisines, which has resulted in a significant increase in its demand. Moreover, there are numerous health benefits associated with the consumption of guacamole. It consists mainly of avocado, a rich source of vitamins, minerals and fats. The presence of high fiber content makes guacamole a healthy food option among consumers. Additionally, guacamole is also packed with potassium which helps the body to maintain proper fluid balance. Moreover, guacamole is a rich source of potent oxidants and heart healthy fats which improve health. It is also associated with a healthy body weight, reduces bloating, and keeps the skin vibrant. Apart from the numerous health benefits, the guacamole market is also being catalyzed by the growth of the global fast food industry where it is widely used as a condiment and dip. Furthermore, driven by factors such as globalization, changing food habits and rising penetration of social media platforms, the consumer base of guacamole is expanding from its traditional markets in North America to various European and Asian Countries. Looking forward, IMARC expects the market to reach US$ 1.4 Billion by 2024, growing at a CAGR of around 8% during the forecast period (2019-2024).
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The competitive landscape of the global guacamole market has also been analyzed. Some of the leading players operating in the market are:
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