New York, June 30, 2023 (GLOBE NEWSWIRE) -- Worldwide consumption of avocado powder market is estimated at 115,959 tons in 2023 and is predicted to reach 208,623 tons by the end of 2033, registering a CAGR of 6% over the next 10 years.
Avocado powder is a convenient and versatile product derived from avocados, which are fruits native to Central and South America. Avocado powder is made by grinding dry avocados into a fine powder. The powder retains the nutritional benefits and natural flavors of fresh avocados while providing a longer shelf life and easy storage.
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This powder is highly nutritious and packed with essential nutrients. It contains healthy monounsaturated fats, dietary fiber, vitamins (such as vitamin K, vitamin C, vitamin E, and various B vitamins), and minerals (including potassium, magnesium, and folate). Avocados are also a good source of antioxidants, which help protect cells from damage caused by free radicals.
Avocado powder can be utilized in a wide range of culinary preparations. It adds a rich and creamy avocado flavor to dishes without the need for fresh avocados. It is often used as a flavoring agent in sauces, dressings, dips, spreads, soups, smoothies, and baked goods. It can also be added to protein shakes or used as a seasoning for popcorn, vegetables, and meat dishes.
One of the main advantages of avocado powder is its convenience and extended shelf life compared to fresh avocados. It can be stored at room temperature, does not require refrigeration, and remains usable for a longer period. This makes it an excellent option for those who want to enjoy the taste and benefits of avocados without the risk of spoilage.
High-quality avocado powders are typically made from 100% pure avocados without any additives, preservatives, or artificial flavors. This makes them a healthier alternative to some commercially available avocado products that may contain additional ingredients.
Avocado powder is a concentrated form of avocados, meaning that a small amount can provide a significant nutritional boost. It can be particularly beneficial for individuals looking to incorporate the health benefits of avocados into their diet but may have difficulty accessing fresh avocados regularly or want a more convenient option. Avocado powder is suitable for various dietary preferences and restrictions, including vegan, vegetarian, gluten-free, and paleo diets. It offers a plant-based source of healthy fats and nutrients that can be used as a substitute or addition to other ingredients in many recipes.
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Key Takeaways from Market Study
- The global avocado powder is valued at US$ 522.6 million in 2023 and is forecasted to expand at a CAGR of 6.8% through 2033.
- Demand for avocado powder in Europe is expected to increase at a volume CAGR of 7% during the forecast period (2023 to 2033).
- France and Russia collectively account for 10% share of the European market in 2023.
- Based on nature, sales of organic avocado products are expected to increase at a volume CAGR of 6.7% and hold 10% market share by 2033.
- The food & beverage industry extensively utilizes avocado powder. This consumption stood at 63,534 tons in 2022.
“Usage of avocado powder in the food and beverage industry, including bakery & confectionery, infant food, soups, and sauces, is expected to increase gradually in the future. Demand for avocado powder is projected to be influenced by advancements in technological capabilities worldwide and growing awareness in developing regions. As a result, manufacturers need to anticipate changes in the market landscape and enhance their production capabilities accordingly,” says a Persistence Market Research Analyst
Competitive Landscape
Companies involved in manufacturing avocado powder are constantly trying to optimize their processes and incorporate the latest technologies to gain an advantage in a highly competitive industry. This involves being abreast of the advancements to have an edge over their counterparts. Providing high-quality products to consumers requires constant effort, which can be seen in the capital investments made by the leaders in the segment.
Top Key Players
AvoLov, Woodland Foods, Commercial Creamery Company, Schilling Ltd., The Green Labs LLC., Aki Organic, Xi'an Sost Biotech Co, TOP Creamery, OVAVO LTD., Xi'an Xuhuang Bio- Co., LTD
Recent Developments
- OVĀVO Ltd. produces its avocados locally in New Zealand. The company uses process-grade avocados in its production facilities. The company emphasizes environmentally friendly storage and transport to maintain product quality.
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Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the global avocado powder market, presenting historical data for 2018 to 2022 and estimation statistics for the forecast period (2023 to 2033).
The study offers compelling insights based on nature (organic, conventional), end use (food & beverages, foodservice, retail/household, others), and distribution channel (business to business, business to consumer) across six major regions of the world.
For additional insights on how the growth of the avocado powder market will shape up over the decade, write to media@persistencemarketresearch.com
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