Dublin, Dec. 02, 2020 (GLOBE NEWSWIRE) -- The "Global Avocado Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global avocado market is expected to grow at a CAGR of 5.72% over the forecast period to reach a total market size of US$17.905 billion by 2025, increasing from US$12.824 billion in 2019.
These bright green fruits are often called alligator pears or the butter fruit and in recent years are extensively used as ready to go ingredients in all sorts of dishes. With high nutritional value in terms of low sugar content and high fiber content avocados are embraced by the majority of the population in the developed economies. Today, a major component of a healthy lifestyle includes the intake of nutritious foods which can help to prevent diseases. The vitamins, healthy fats, and minerals in avocados helps to prevent diseases such as cancer, arthritis, inflammation, and even depression.
Latin America and the Caribbean are the leading avocados producing regions
The advantage of tropical weather conditions along with its proximity to the United States (one of the largest markets for avocados) has resulted in the formation of the export-oriented market in the region. The production and trade of avocados are expected to increase on account of rising disposable income and growing consumer awareness in different parts of the world. However, changing climatic conditions is restraining the region's production potential as small island states are experiencing destructive effects of growing frequent tropical storms. Besides, avocado production in the region is heavily impacted by the weather conditions and hence, shows yearly variations.
Growing popularity among millennial population
Avocado is considered an ideal food for teenagers on account of its rich food content and composition as a healthy snack and with the growing health awareness among the young population its popularity is expected to further grow among the millennial population in the coming years. The growing working population in various parts of the world is expected to drive the growth of the market during the forecast period. For instance, according to the World Bank analysis, the population ages fifteen to sixty-five as the percent of the total population in Mexico and Brazil has increased from 63.23% and 67.35% in 2007 to 66.39% and 69.73% in 2019, respectively.
In addition, expanding food retail business coupled with the growing product launches of avocado-based products such as dips is fast food retailing giants is further anticipated to boost the demand for avocados over the forecast period. For instance, according to the United States Department of Agriculture (USDA), the consumer foodservice industry in Mexico is experiencing growth over the last five years and with the growing fast pace lifestyle in the major biggest cities the HRI sector is expected to advance at the significant rate creating ample opportunities for avocado producers in the country.
Environmental factors are expected to restrain the growth of the market during the forecast period.
Due to the growing popularity of avocado, there is an increasing demand over the past few years resulting in the rise in avocado prices making it more economically valuable than other tropical fruits. As a result, the commercial business of avocados is gaining popularity consequently leading to deforestation which is now becoming a major environmental issue in the world's largest avocado producing country Mexico. Avocado orchards are also affecting the wildlife in many tropical regions as they require twice as much water as the fairly large forest requires and with the growing deforestation avocado business are now under scrutiny. Furthermore, the extensive avocado farming in Mexico is causing water shortages, biodiversity, and even earthquakes causing environmental havoc.
Competitive Insights
Prominent/major key market players in the global avocado market include Calavo Growers, Inc., Del Rey Avocado Company, Inc., WestPak, Westfaliafruit, Mission Produce Inc, and Avehass among others.
The number of players in the avocado market is restricted and is growing with the opportunity to generate significant revenues because of growing demand in various parts of the world. The players in the global avocado market are implementing various growth strategies to gain a competitive advantage over its competitors in this market.
Major market players in the market have been covered along with their relative competitive position and strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the global avocado market.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Avocado Market Analysis, By Type (Value in US$ Million) (Volume in Tons)
5.1. Introduction
5.2. Hass Avocado
5.3. Bacon Avocado
5.4. Others
6. Global Avocado Market Analysis, By Industry (Value in US$ Million) (Volume in Tons)
6.1. Introduction
6.2. Food and Beverage
6.3. Cosmetic
7. Global Avocado Market Analysis, By Distribution Channel (Value in US$ Million) (Volume in Tons)
7.1. Introduction
7.2. Online
7.3. Offline
7.3.1. Convenience stores
7.3.2. Others
8. Global Avocado Analysis, by Geography (Value in US$ Million) (Volume in Tons)
8.1. Introduction
8.3. South America (Value in US$ Million) (Volume in Tons)
8.6. Asia Pacific (Value in US$ Million) (Volume in Tons)
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. Calavo Growers, Inc.
10.2. Del Rey Avocado Company, Inc.
10.3. WestPak
10.4. Westfaliafruit
10.5. Mission Produce Inc
10.6. Avehass
10.7. JBR Avocados
10.8. Propal
For more information about this report visit https://www.researchandmarkets.com/r/jqdkby
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