North America to dominate the Global Avocado Market till 2026
Rise in working population
and increasing focus on healthy lifestyle is expected to drive the global avocado
market in the forecast period.
According to TechSci Research report, “Global Avocado
Market By Type (Hass, Bacon, Reed, Fuerte, Pinkerton, Others (Brogdon,
Zutano)) By Form (Raw, Processed) By Nature (Conventional, Organic) By
Application (Pharmaceuticals, Nutraceuticals, Cosmetics, Others) By
Distribution Channel (Direct (Online), Indirect (Supermarket/Hypermarket,
Specialty Stores, Others (Drug Stores, Convenience Stores)), By Region, Company
Forecast & Opportunities, 2026”, The global avocado market is expected
to witness steady growth for the upcoming five years. Avocado consists of
essential vitamins including A, B, C, E and K along with phytochemicals and
antioxidants. Presence of large number of nutrients is accelerating the demand
for avocado around the world. Health benefit of avocado owing to its health
benefits such as improved digestion, increases vision, and prevention of
heart-related diseases. Rise in demand for avocado world-wide as it is
superfood rich in omega and contains other multi-nutrient quality. Avocado is
the most nutrient dense fruit available. Launch of avocado based food items and
for example dips in fast food retailing joints along with expanding food retail
business is contributing to strengthen the market. High demand for avocado by
restaurant chains for use in continental and other cuisines is fueling the
demand for avocados.
The COVID-19 outbreak across the world which has been
declared as pandemic by World Health Organization has affected several countries
adversely. Leading authorities-imposed lockdown restrictions and released a set
of precautionary measures to contain the spread of novel coronavirus.
Coronavirus affected patients started suffering from shortness of breath along
with coughing and sneezing. Leading authorities increased the capacity of
hospitals as a greater number of patients were getting affected daily and
getting admitted into the hospital facilities. Rapid decline in economic
activity around the globe and international market, the disruption in supply
chain was observed. Avocado production requires well-coordinating harvesting
and post-harvesting care which was affected due to restrictions and
precautionary measures such as the practice of social distancing.
However, changing environmental conditions may hamper
the growth of global avocado market.
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Global
avocado market is segmented into type, form, nature, application,
distributional channel, regional distribution, and company. Based on type,
market can be divided into hass, bacon, reed, fuerte, pinkerton, and others.
The hass type segment is expected to account for major market share for the
forecast period, 2022-2026. It finds wide food application and consists of
pleasant, creamy, smooth edible fruit which is in high demand across the globe.
Based on distribution channel, market can be divided into direct, indirect and,
others. The direct segment is expected to dominate the market for the next five
years due to rise in internet penetration and proliferation of smart devices
across the globe. Increasing growth of e-commerce channels and adoption of
attractive strategies by the market players to improve the brand image is
expected to boost the demand for this segment. Offering of lucrative discounts
and the facility for fast delivery along with ease and convenience of consumers
is driving the growth of this segment.
Calavo
Growers Inc., Costa Group Holdings Ltd., Henry Avocado Corporation, West Pak
Avocado, Inc., Del Rey Avocado Co. Inc., AvoHealth Limited, Westfalia Fruit
(Pty) Ltd., Camposol S.A., Avehass S.A., Del Monte Fresh Produce Co are the
leading players operating in global avocado market. Producers are increasingly
focusing on research and development process to fuel higher growth in the
market. To meet evolving customer demand with respect to better efficiency and
durability, several avocado producers are coming up with their technologically
advanced offerings.
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“Rise
in health concerns and adoption of healthy eating habits by consumers as part
of preventive healthcare is fueling the demand for avocados around the globe.
Consumption of avocado helps in maintain healthy skin and protect the liver
from damage and ailments along with other numerous health benefits. Growing
sales of distribution channels and surging use of avocado in various end user
industries is further expected to propel the growth of the global avocado
market till 2026” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global
Avocado Market By Type (Hass, Bacon, Reed, Fuerte, Pinkerton, Others (Brogdon,
Zutano)) By Form (Raw, Processed) By Nature (Conventional, Organic) By
Application (Pharmaceuticals, Nutraceuticals, Cosmetics, Others) By
Distribution Channel (Direct (Online), Indirect (Supermarket/Hypermarket,
Specialty Stores, Others (Drug Stores, Convenience Stores)), By Region, Company
Forecast & Opportunities, 2026” has evaluated
the future growth potential of global avocado market and provided statistics &
information on market size, shares, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the of global avocado market.
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