Avocado Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Health benefits of avocado have propelled interest in nutritionists and health professionals. The fruit has attracted a huge market among health-conscious populations worldwide as a versatile fruit. They are predominantly grown in tropical climates. Compared to several other fruits and vegetables, avocadoes are excellent source of good fats-- healthy monounsaturated fatty acids--and a wide range of minerals and vitamins in generous amounts. The range includes folic acid and vitamins B6, C, K, and E. Their demands have especially due to its role in managing blood pressure, regulating metabolism, and improving the function of liver. The antioxidant property of avocadoes have also brought more people to explore the avocado market. Explosion of information ranging on how to cut the fruit to how to merge avocado in variety of healthy recipes has helped expand the evolution of the avocado market. Growing use of avocado in smoothies is an example. Further, they are a great source of dietary fiber.
Widespread pursuit of including fruits in eating regimens to manage cardiovascular health is one of the compelling propositions for new demands in the avocado market. Avocadoes are gathering steam as potassium-rich foods in reducing the risk of heart attacks and strokes. Their antioxidant activity has bolstered demands to meet the need for natural foods to fight against cataracts, and various serious eye diseases particularly, age-related macular degeneration.
Cosmetics and personal care companies have been keen on utilizing the nutritional benefits of this fruit in skin care and hair care. Growing numbers of hair and skin masks that contain avocadoes point to the popularity. Over the past few years, imports of avocadoes have flourished on the back of favorable international trade policies and less barriers to trade across neighboring countries. A case in point is growing imports of avocadoes in China. A large proportion of import comes through Chile, Mexico, and Peru.
Key markets such as in the U.S. are seeing growth in promotional activities in retail stores and new stores opening up to bolster its prospects in the avocado market. Further, countries including Mexico have ramped up the harvest, thus fueling the evolution of the avocado market.
A number of recipes are enthralling party lovers and those who are on holiday sprees in countries that are major importers of avocado. Major producers of avocadoes are also focusing on popularizing avocadoes in mega events such as sports. A case in point is Mexico. The Government recently announced that it has collaborated with the Government of Qatar on a protocol that will enable the former to export avocados. The Mexican Government wishes to popularize avocado in the next world's biggest football event; the 2022 World Cup is scheduled to take place in Qatar.
Some of the players who are jostling for notable stakes in the avocado market are
On the global front, Asia Pacific has contributed sizable revenues to the global avocado market in recent years. A great deal of the growth impetus to the regional market has come from China. The Government has been keen on augmenting the volumes of imports. North America has also been a promising avocado market. However, the production is dependent on the vagaries of the weather conditions, which makes the growth unsteady. On the other hand, end-use industries in Central and South America are increasingly developing products that utilize the nutritional benefits of the fruit, thus catalyzing their prospects in the global avocado market.
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