Avocado Market Size Worth $30.22 Billion By 2032 | CAGR: 7.4%

The global avocado market size is expected to reach USD 30.22 billion by 2032, according to a new study by Polaris Market Research. The report “Avocado Market Share, Size, Trends, Industry Analysis Report, By Form; By Distribution Channel (B2B, B2C); By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

A growing inclination for health-enhancing foods in developed and emerging nations will likely drive the market over the forecast period. The primary marketing technique for promoting avocado fruits and a wide variety of goods made with avocados is to highlight the fruit's health benefits.  It is a nutritious powerhouse rich in nutrients B, K, C, and E. It is also a high source of potassium, carotenoids, and phytosterols. Due to its many nutritional benefits, avocado is now a common ingredient in many foods. This is a key justification for the steady growth of avocados worldwide.

Collaboration between industry and academia for Avocado's sustainable and large-scale production has increased its sales across non-growing nations. For instance, in November 2022, researchers at the University of Queensland developed commercially viable tissue culture propagation technology for the Reed avocado rood-stock variant. In the FY 2020-21, Australian sub-content produced around 78,000 tonnes of Avocado, with a market value of USD 563 Mn.

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The benefits of avocados for health, including improved digestion, reduced risk of heart disease, and improved vision, are another reason consumption is growing. Additionally, this fruit is gaining popularity in the pharmaceutical and cosmetics industries. Due to its potential medicinal benefits, drug companies and makers of therapeutic products think it might be a vital component in their goods.

For instance, according to a research paper by Albert C. Charles et al. published in July 2022 that the cosmetic uses and proprietary formulations of avocado seed extract are helpful in skin care. Additionally, soap can be made using the lipids found in avocado seed, which take the form of fatty acids. Avocado seed production would be more environmentally friendly, increasing the market's ability to sustain itself. Avocado seeds can contribute to the growing bio-economy sector for products used in food and cosmetics.

Due to the increased consumer demand for fresh avocados, millennial population is consuming fresh foods & using ready-to-eat, freshly prepared food products, which they perceive as quick versions of homemade meals that save time & work in the kitchen. For instance, In September 2022, Mission Produce announced establishing a cutting-edge ripening, packing, & forward distribution center in Dartford, England, in 2023. The area provides easy access to the world's busiest ports and transportation systems.

Avocado Market Report Highlights

• The fresh form will have the most significant revenue share. Due to the increase in demand for raw fruit, multinational corporations are integrating new technologies into their production processes.

• The B2B segment will dominate the total sales. People choose more nutrient-dense meals at cafes and restaurants due to greater health awareness, particularly among the younger population.
• In 2022, North America accounted for the highest revenue. The increasing demand for goods in the United States and Canada significantly influenced market growth and expansion.
• The global players with a worldwide presence include Calavo Growers, West Pak Avocado, Westfalia Fruit, Mission Produce, and Simpson Farms.

Polaris Market Research has segmented the Avocado Market report based on form, distribution channel, and region:

Avocado, Form Outlook (Revenue - USD Billion, 2019 - 2032)

• Fresh
• Processed

Avocado, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)

• B2B
• B2C

Avocado, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa