Portland, OR, Nov. 07, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global guacamole market garnered $0.8 billion in 2021, and is estimated to generate $1.5 billion by 2031, manifesting a CAGR of 5.8% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $0.8 billion |
| Market Size in 2031 | $1.5 billion |
| CAGR | 5.8% |
| No. of Pages in Report | 343 |
| Segments covered | End-user, packaging, distribution channel, and region. |
| Drivers | Surge in the number of people working globally |
| The growing demand for quick meals | |
| The expansion of fast food restaurants | |
| The growing appeal of wholesome, nutrient-dense snacks served with dips | |
| Opportunities | The growing acceptance of a better lifestyle brought on by changing consumer preferences |
| Restraints | The increasing scarcity of avocados |
| Rise in prices of guacamole |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global guacamole market, owing to implementation of global lockdown which resulted to temporary closure of fast food industry.
- Guacamole producers experienced a medium to high impact as a result of disrupted supply chains and trade flows that made it harder for them to source raw materials. Due to border barriers, wholesalers and distributors experienced the pandemic's effects on a global scale. Due to the inability to export any goods, there was not an abundance of guacamole available for local sales and distribution.
The research provides detailed segmentation of the global guacamole market based on end-user, packaging, distribution channel, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on end-user, the food service industry segment held the highest share in 2021, accounting for nearly half of the global guacamole market, and is expected to continue its leadership status during the forecast period. However, the households segment is expected to register the highest CAGR of 6.2% from 2022 to 2031.
Based on packaging, the glass bottles segment accounted for the highest share in 2021, contributing to nearly half of the global guacamole market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the pouches segment is expected to manifest the highest CAGR of 6.3% from 2022 to 2031.
Based on distribution channel, the supermarket and hypermarket segment accounted for the highest share in 2021, holding around one-third of the global guacamole market, and is expected to continue its leadership status during the forecast period. However, the online stores segment is estimated to grow at the highest CAGR of 7.3% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to nearly half of the global guacamole market share, and is projected to maintain its dominant share in terms of revenue in 2031. On the other hand, the Asia-Pacific region is expected to manifest the fastest CAGR of 8.1% during the forecast period. The research also analyzes regions including Europe and LAMEA.
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Leading market players of the global guacamole market analyzed in the research include Avoking, Calavo Growers, Inc, Casa Sanchez SF, Hormel Foods Corporation, Sabra Dipping Co., LLC, Salud Foodgroup Europe b.v, Snowcrest, Westfalia Fruit Ltd,Woolworths Group ltd, Landec Corporation.
The report provides a detailed analysis of these key players of the global guacamole market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
