The global avocado products market was valued at USD 11.6 billion in 2022 and is estimated to register a CAGR of 8.2% during the forecast period from 2023 to 2030. The market is expected to be driven by the rising demand for healthy food items such as avocados, the increasing disposable income of consumers, and the growing demand for convenience foods. Additionally, the increasing demand for avocado-based products such as guacamole, sauces, and spreads is expected to drive the market.

The growing health and wellness trend, along with the increasing awareness about the nutritional value of avocados, is likely to boost the market in the coming years. Avocados are a rich source of dietary fiber, vitamins, minerals, and healthy fats, making them an ideal choice for those looking to improve their health. Furthermore, the rising demand from millennials and Gen Z consumers, who are more health-conscious and seek a balanced diet, is expected to propel the market in the next few years.

The rise in the number of restaurants, food outlets, and supermarkets is expected to create a lucrative opportunity for avocado products in the coming years. Additionally, the growing demand for organic avocado products and the increasing number of organic farms are expected to boost the market. Furthermore, the increasing demand for ready-to-eat products and convenience food is expected to support the market growth in the coming years.

In addition, the increasing number of innovative product launches is likely to expand the scope of the market in the coming years. For instance, in July 2021, Mission Produce Inc. launched a new range of avocado-based products, including guacamole, snack packs, and avocado spread. The company is targeting impulse buyers, aiming to offer convenience and healthy snacks. Furthermore, the rising trend of restaurant chains offering avocado and guacamole-based dishes is expected to drive the demand for avocado products in the coming years.

The fresh avocado segment is expected to lead the market and account for a share of around 27.8% in 2022. Avocados are known to contain healthy fats and are a popular choice among health-conscious consumers. This is due to their high content of monounsaturated fatty acids, which helps reduce cholesterol levels. Furthermore, the high content of dietary fiber in avocados helps in healthy digestion and prevents constipation. Additionally, increasing awareness of health benefits associated with avocado consumption is driving the demand for fresh avocados worldwide.

The processed avocado segment is expected to grow at the fastest CAGR of 7.9% over the forecast period. The increasing demand for convenience foods, along with the growing trend of health-conscious snacks, are contributing to the growth of the processed avocado segment. Furthermore, the launching of various innovative avocado-based products such as chips and spreads is driving the market growth. According to a survey published by the American Heart Association, in August 2019, 63% of consumers agreed that avocados make healthy snacks.

The supermarkets and hypermarkets segment held the largest share of the industry in 2022. The growth of the segment is mainly attributed to the increased availability of avocados in supermarkets & hypermarkets and the convenience of making quick purchases. In addition, customers prefer to buy avocados directly from supermarkets & hypermarkets which allows them to select the best fruit according to their requirements. Moreover, these establishments also offer discounts and bundle offers, allowing customers to save money.

The online segment is expected to witness the highest CAGR of 12.3% over the forecast period. The increasing number of online platforms offering avocados is driving the growth of the segment. For instance, in December 2022, Amazon India launched Amazon Fresh, a dedicated website for fresh grocery items, including avocados. The platform offers farm-fresh avocados from the local suppliers and provides delivery within two-hours in selected cities. In addition, Amazon’s Prime membership program offers discounts on avocados and other fresh items.

The fresh avocado segment accounted for the largest revenue share of 71.2% in the year 2022. The growing demand for avocados as a healthy food ingredient is driving the segment growth. Additionally, the rising consumer preference for fresh produce is also driving the fresh avocado segment. For instance, in April 2022, the U.K. government launched a new campaign to promote the consumption of fresh fruits and vegetables. Furthermore, the increasing demand for avocados in the foodservice industry is driving the segment growth.

The processed avocado segment is expected to register the highest CAGR of 9.4% over the forecast period. The increasing demand for convenience food products is driving the segment growth. Additionally, the rising demand for guacamole and other avocado-based dips and spreads is also driving the segment growth. For instance, in April 2022, the Nestle Group launched avocado-based dips and spreads in the European market. The product is made from natural ingredients and is free from preservatives, colors, and artificial flavors.

Latin America is expected to lead the avocado products market during the forecast period, owing to the high presence of avocado producers in the region. The increasing demand for avocados as a healthy snack has been contributing to the growth of the market in the region. In addition, the presence of large-scale plantations in Mexico, Brazil, and Peru has been accelerating the production of avocados, which is further leading to a growth in the market. Moreover, the increasing demand from the foodservice industry in the region is driving the market.

Asia Pacific is expected to witness the fastest growth in the coming years. The rising demand for healthy snacks is expected to propel the growth of the market in the region. Moreover, changing consumer preferences and the emergence of new flavors in the market are expected to drive the growth of the market in the region. The increasing demand from the foodservice industry in the region is also expected to drive the growth of the market.

In this part of the avocado product business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your avocado products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for an avocado product business comes from the sale of fresh and processed avocados, avocado-based products, and other related products. Here you will find a list with a description of each of them and other possible sources of profit such as the sale of avocado related merchandise, partnerships with other businesses, and other services related to avocado production.

Projecting Expenses
In this section, all the regular expenses related to keeping the avocado product business running will be described. The list of operating expenses includes wages, utilities, insurance policies, advertising, packaging and shipping materials, and others.

Some of the key companies operating in the avocado products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In July 2022, Mission Produce Inc. launched a range of organic avocados, which are free from preservatives and contain no added sugar.

– In August 2022, The Avocado Company launched a range of ready-to-eat avocados in a variety of flavors, such as spicy, mild, and original.

– In October 2022, GreenFruit Avocados launched a range of ready-to-eat avocados in the Mexican market.

Some of the prominent players in the avocado products market include:

– Mission Produce Inc.
– The Avocado Company
– GreenFruit Avocados
– Calavo Growers, Inc.
– AvoCado Brands
– Avocado Producers and Exporting Packers Association of Mexico (APEAM)
– Avocados From Mexico
– Del Monte Fresh Produce
– West Pak Avocado, Inc.
– Henry Avocado Corporation

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global avocado products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Avocado Oil
– Avocado Puree
– Avocado Powder
– Avocado Spread
– Avocado Juice

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Specialty Stores
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Organic
– Conventional

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Factors Driving the Avocado Products Market?
[A]: Factors such as increasing health awareness, rising disposable income, availability of organic options, and rising demand for vegan-friendly products are expected to drive the growth of the avocado products market. Furthermore, the rising popularity of avocado-based products, such as smoothies and shakes, has been driving the growth of the avocado products market.

[Q]: What are the Major Applications of Avocado Products?
[A]: Avocado products are used for various applications, such as food and beverages, cosmetics, animal feed, and others. Avocado products are widely used in food and beverages, including bakery and confectionary items, smoothies and shakes, salads, and others.

[Q]: Which Region Offers the Largest Opportunity for Sales of Avocado Products?
[A]: North America is expected to be the most lucrative region for the growth of the avocado products market. This is attributed to the increasing health awareness among consumers and the presence of key players in the region.

[Q]: What is the Potential of Product Innovation?
[A]: Product innovation is expected to be a major factor driving the growth of the market. Companies are introducing innovative products to meet the changing needs of consumers. For instance, new flavors and textures are being introduced in the market to attract more consumers.

[Q]: Who are the Key Players in the Avocado Products Market?
[A]: Major players in the avocado products market include Mission Produce, Inc., Del Monte Foods, Inc., Avocados From Mexico, Dole Food Company, Calavo Growers, Inc., West Pak Avocado, Inc., and Chiquita Brands International, Inc.